Basketball stays in Olympic Park

Advertisement

2012 Olympics hit by crunch

The basketball event at the 2012 Games in London will not move away from the Olympic Park, organisers have said.

It had been suggested it would be moved to an existing venue rather than spend money on a temporary 12,000-seater stadium at the east London site.

It has also been decided the equestrian events will remain in Greenwich Park despite opposition by local residents.

These decisions by Olympic organisers follow a report by accountants KPMG who had looked into potential cost savings.

The economic downturn has put pressure on the Games' planners to stick to the £9.3bn budget.

The reality is that nobody can confidently predict how London economic and Olympic landscape will change in the next four years Adrian Warner

BBC London's Olympics Correspondent Adrian Warner said plans for a temporary arena near to the 02 in Greenwich, south-east London, to stage badminton and rhythmic gymnastics competitions are also likely to be scrapped, saving £40m.

He said instead Wembley Arena was being discussed as a likely venue to stage the the two events and there are still question marks about the shooting event remaining in Woolwich, south-east London.

Lord Coe, chairman of the London Organising Committee of the Olympic Games (Locog), told BBC London: "I am not going to be coy and naive and say that the world isn't a very different place than it was this time last year.

"But from our side of the project we're still having very lively discussions with any number of potential partners, and in infrastructural terms those budgets are set and there is no lack of momentum."

Mr Warner said: "2012 officials have said these are the last cuts.

"But the reality is nobody can confidently predict how London economic and Olympic landscape will change in the next four years."