2012 London Olympics To Cost More Than £10 Bilion !

In June 2008, the National Audit Office (NAO) had warned the Olympic Delivery Authority (ODA) they could face formidable challenges like unsigned construction contracts and security of the games, which could affect the £9.3 billion budget.

The government is still insisting that cost will be £9.3bn but UK bookmakers William Hill seem to completely disagree with the state and have opened a book on what will be the final official cost of the London Olympics as confirmed by the government

Then both ODA and the Department for Culture, Media and Sport had dismissed these concernts.

The Department for Culture, Media and Sport said the budget had not increased "and will not be allowed to increase".

Similarly an ODA spokesman said any further public investment would be "within the existing £9.3bn budget".

William Hill believes that the rise in the total budget is inevitable and are offering as high as 16/1 for anyone backing the view of the government for a under £10bn figure.

The bookmaker favours a figure between £10bn and £20bn and makes it odds on at 4/6.

Hill's spokesman Graham Sharpe said: "With several years still to go it seems highly unlikely that the government will be able to keep costs down to under £10bn and in all likelihood the costs will continue to rise significantly.

"We think there is every chance that it will eventually more than double."

If you agree with William Hill then they offer you a nice 11/10 on a figure of above £20bn.

If we recollect, a spokesman for the Department for Culture, Media and Sport had said then that it was "inevitable" in "a project of this complexity" that estimated costs would both rise and fall.