In an interview in the UK’s Observer newspaper, the chief executive of the Olympic Delivery Authority – David Higgins – says the extra cash is likely to be needed to fund the crucial infrastructure to stage the event.
The extra costs are likely to drive the cost of the Games from £3.4bn to £5.4bn. It comes as a result of using the Games as a catalyst for the building of 35,000 new homes in the area of East London where the Games will be staged.
However, utility companies are likely to pick up the extra costs – as they are the most likely to benefit in the long-time from the explosion in the new homes.
