VANOC: 13 of 15 venues set for next season

Construction for the 2010 Olympic Winter Games is continuing on budget and 13 of the 15 venues will be ready for training and competition for the upcoming season, the Vancouver Olympic Games Organizing Committee says in its quarterly report released Thursday.  

VANCOUVER, British Columbia — Construction for the 2010 Olympic Winter Games is continuing on budget and 13 of the 15 venues will be ready for training and competition for the upcoming season, the Vancouver Olympic Games Organizing Committee says in its quarterly report released Thursday.  
    The venue construction budget for the Games is $580 million Canadian (US$493.8 million, €373.36 million) — all covered by the government. That includes the additional C$110 million (US$93.6 million, €70.8 million) the federal and provincial governments contributed to the project when VANOC realized it couldn't complete the venues for the original projected cost of C$470 million (US$400 million, €302.4 million).
    The latest report, which covers the period from Nov. 1, 2006, to Jan. 31, 2007, shows VANOC's revenue from marketing and sponsorship, the International Olympic Committee and other sources was C$35.2 million (US$30 million, €22.7 million). Expenses were C$28.4 million (US$24.2 million, €18.3 million).  
    Overall, VANOC's operating revenue since being formed in 2003 is C$121.8 million (US$103.7 million, €78.41 million) while operating expenses total C$121.2 million (US$103.2 million, €78.03 million).
    Venues expected to be completed and ready for use this year include the Whistler Sliding Centre, the Whistler Nordic competition venue, the ski racing venue in Whistler, Cypress Mountain, home for snowboard and freestyle skiing, GM Place in Vancouver and Hastings Park, home to figure skating and short-track speed skating.
    ''We are more than halfway through our venue development program and have allocated less of the venue construction contingency than forecast,'' Dan Doyle, VANOC executive vice-president for construction, said in a release.
    ''We are on schedule, on budget and on target to meet our goals of ensuring early completion.''
    In the past VANOC has estimated it will cost C$1.7 billion (US$1.4 billion, €1.06 billion), to put on the Games. That expense will be covered by sponsorships, TV revenues, ticket and souvenir sales.
    Those figures do not include the C$580 million (US$493.8 million, €373.36 million) to build the competition venues.

— The Associated Press