Novel Concept Adopted By London Olympic Committee

Either by choice or necessity, most people in the world live on some form of a budget. The sports chiefs have decided to scale back the Olympic Park and Olympic Village in order to stay within the overall budget.

The decision was based in part on the tightening credit market which has made financing nearly impossible without paying near loan sharking rates.

British Olympic Association are shuttering at the thought of athletes sharing flats during the 16-day competition.

Instead of 4,200 flats, as first configured, it is expected to contain 2,700 flats. The flats would be sold on the open market after the Games to recoup partially the significant public investment in the construction.

Officials told the Timesonline:

“Room configurations will be developed and finalised in accordance with IOC regulations, taking into account the experiences in the Beijing 2008 Games and the requirements of national Olympic committees and national Paralympic committees.”

The urge to keep up with the Beijing Games is a natural one. British officials should erase the memories of Beijing out of their mind completely.

The Beijing Games were financed in a much different environment. London officials will come to regret their actions to over spend to keep up with Beijing, especially if the later on in the project the government is forced to nationalize the project.

Jay Hicks for Prerace Jitters.com.