Glasgow 2014, widely-praised as the best ever Commonwealth Games, will be delivered £25 million under budget, it was announced today (Thursday, November 6). As the Glasgow 2014 Organising Committee – the company created to deliver Scotland’s biggest ever sporting and cultural festival - enters its final stage of dissolution, its Chairman Lord Smith of Kelvin has confirmed that in delivering the Games within budget around £25m of previously committed public funds have not been required.
While a final budget position will not be confirmed formally until the Organising Committee’s closing accounts are completed early next year, Lord Smith said current indications were that the Glasgow 2014 would conclude its operations significantly within budget. The Games Partners acknowledged the overwhelming public support for the Games, a dynamic commercial programme, tight budgetary controls and effective cross organisational governance arrangements as all playing key roles in the successful financial outcome of the ambitious five-year delivery programme.
While a final budget position will not be confirmed formally until the Organising Committee’s closing accounts are completed early next year, Lord Smith said current indications were that the Glasgow 2014 would conclude its operations significantly within budget. The Games Partners acknowledged the overwhelming public support for the Games, a dynamic commercial programme, tight budgetary controls and effective cross organisational governance arrangements as all playing key roles in the successful financial outcome of the ambitious five-year delivery programme.
By: Editor
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