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Glasgow 2014 reveals budget increase
Uncertainty over the sale of broadcasting rights for the Glasgow 2014 Commonwealth Games has led to an £81m increase in the total cost of hosting the event, according to organisers.
Glasgow 2014, the organising committee behind the Games, revealed that the budget for the Games had increased by 22 per cent to £454m due to a potential deficit facing the event after the BBC failed to commit to the acquisition of broadcasting rights. The original £373m budget for the Glasgow 2014 Commonwealth Games, drawn up in April 2007, had hoped to offset the costs of broadcasting against income from the sale of domestic broadcasting rights.
Following a review of the Games' budget, the core budget has increased from £333m to £373m, while the contingency budget now stands at £60m compared with an initial £40m. The Scottish Government will provide an additional £39m towards the cost of staging the Games along with a £20m reserve fund, while Glasgow City Council has agreed to contribute a further £9m. Organisers hope to secure £13m through commercial deals.
Lord Smith, chair of the Glasgow 2014 Organising Committee, said: "Everyone in the organising committee also recognises the responsibilities upon us to deliver an efficient and effective Games, minimising the cost to the public purse in these difficult economic times. "The Games partners are united in the belief that these Games can be the catalyst for significant change and will generate enormous sporting, social and economic benefits for the whole of Scotland, and we believe that the budget announced today will enable all those potential benefits to be realised."
Glasgow City Council leader Steven Purcell added: "I am disappointed that it is necessary to increase the budget for staging the Games. However I accept that this has been caused by changing circumstances since we submitted the bid and all the partners have worked very closely to minimise the increase."
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