Olympic critic disputes Vanoc's claim that it broke even on 2010 Games

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      A prominent critic of the Vancouver 2010 Olympics is questioning a report from Vanoc claiming the organizing committee broke even on the Games.

      Vanoc released financial statements today (December 17) indicating the Games stayed within budget at $1.884 billion in operations.

      “As of today's date, VANOC has no debt remaining,” a news release from the committee indicated.

      “The true measure of the 2010 Winter Games is not strictly financial, but a positive financial outcome is something we are very proud of in the story of the Games' success,” said John Furlong, Vanoc's chief executive officer, in a statement.

      However, Chris Shaw called the budget a “shell game”.

      “Right after the Games were awarded, they went back to the federal and provincial governments for $110 million,” said Shaw. “They said they weren’t going to go back again, but they did. Million, million, millions more went.

      “To say they broke even, yeah broke even based on the last tranche of money they got, maybe.”

      Shaw noted operating costs are separate from the total price tag, and don’t include things like overall security costs or all the costs to the province and the city.

      “Where did the City of Vancouver break even on the [Olympic] Village?” he asked.

      “They’re moving the pea around under the cups and pretending the debts aren’t there and the assets are.”

      According to the committee, the Games delivered unprecedented corporate support and record public attendance, with over 97 percent of the 1.54 million tickets available sold.

      In addition to releasing its financial statements, VANOC also released a final sustainability report today.



      M Anderson

      Dec 17, 2010 at 8:03pm

      That farce called Sea to Sky highway that is only going to benefit a few high rollers that go to Whistler is going to cost me as a taxpayer for many years...Put a toll on that money pit and give residents north of Horseshoe Bay free passage. Everyone else should pay. I live in the north and may or may not use that thing in my lifetime...


      Dec 17, 2010 at 9:13pm

      Not that I actually but it for 1 second but supposing we did break even - were we not promised windfall profits - or was that off the radar?

      claire hurley

      Dec 17, 2010 at 9:48pm

      Phew! The stench of VANOC's report is reaching Point Roberts! Shame on these shyster spin doctors.

      Ken Lawson

      Dec 18, 2010 at 2:21am

      I do not agree with their figures, they lost more than what they wanted to tell us, is John Furlong related to Gordon Campbell, bring in Sheila Fraser and her team of forensic auditors then we will get the real truth!


      Dec 19, 2010 at 4:54pm

      You guys still crying over the Olympics?? I had a great time!!!