Page last updated at 10:32 GMT, Thursday, 27 August 2009 11:32 UK

Cash pledge for Canada Olympics

Canadian women's speedskating team
The Vancouver games open in less than six months

The International Olympic Committee (IOC) will give extra cash to the Vancouver 2010 Winter Games if there is a budget shortfall caused by recession.

There is a potential 30m Canadian dollar ($27m;£16.5m) revenue shortfall as the IOC has only signed up nine worldwide corporate sponsors.

Eleven had been expected when Vancouver's C$1.7bn operating budget was drawn up.

The games in the western Canadian city open in less than six months.

'Confident'

"With the commitment the IOC has made to us and the contingency we had in our budget I am now extremely confident we will achieve our targets," Dave Cobb, Vancouver Organizing Committee (Vanoc) executive vice-president said.

It comes after the IOC panel that is overseeing preparations for the games made a final visit to Vancouver.

The IOC and Vanoc denied that the issue of corporate sponsorship had caused a rift between the two groups.

Vanoc was able to meet its target for domestic corporate sponsorship monies.

But since the onset of the global recession it no longer believes it can exceed its C$760m goal.

The IOC has not promised to make up the entire shortfall, but the funding gap could end up being less than C$30m if new worldwide sponsors are signed before the games begin in February.



Print Sponsor


RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites


FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

BBC navigation

BBC © 2013 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.

Americas Africa Europe Middle East South Asia Asia Pacific