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  • Budget and Venues Update (Supplementary) [2]

    • Question by: Bob Blackman
    • Meeting date: 10 November 2007
    At the moment you are clearly on target. What extra sponsorship do you anticipate signing up in the next, say, 12 months?

  • Budget and Venues Update (Supplementary) [18]

    • Question by: Bob Blackman
    • Meeting date: 10 November 2007
    Can I move onto Lord Coe. In terms of the position over achieving sponsorship, can you update us as to the overall level of sponsorship that is required in order to achieve the aims and where you are in terms of achieving that?

  • Budget and Venues Update (Supplementary) [22]

    • Question by: Bob Blackman
    • Meeting date: 10 November 2007
    What are the financial implications if you do not achieve those targets by Beijing?

  • Contingency (Supplementary) [6]

    • Question by: Bob Blackman
    • Meeting date: 25 April 2007
    Obviously you have not given us figures so, to a certain extent, we have got to conjecture what they are but, say, the cost of the Stadium in your budget is £250 million - I do not know if that figure is correct or not - and then you discover that, lo and behold, now £300 million is the true cost. Does that extra £50 million come from the contingency? What happens about that?

  • Contingency (Supplementary) [8]

    • Question by: Bob Blackman
    • Meeting date: 25 April 2007
    So is that procedure set up or is it to be determined?

  • Contingency (Supplementary) [10]

    • Question by: Bob Blackman
    • Meeting date: 25 April 2007
    Sir Roy , what I am trying to get at is how does the contingency fund work to fund specific projects?

  • Contingency (Supplementary) [11]

    • Question by: Bob Blackman
    • Meeting date: 25 April 2007
    So the process will be that you would have to make an application, and that application would be considered in the due fullness of time. Or is there a time period in which that should be addressed?

  • Contingency (Supplementary) [13]

    • Question by: Bob Blackman
    • Meeting date: 25 April 2007
    OK. You have this series of different projects, all with their own budgets within the overall budget, and you are going to put a series of contracts out to tender. Supposing, on the first one of those, you have a budget that says it is £250 million, but the cheapest cost comes in at £300 million. Does that mean the £50 million will come from the contingency fund, or does it have a knock on effect on the other budgets?

  • Contingency (Supplementary) [15]

    • Question by: Bob Blackman
    • Meeting date: 25 April 2007
    What happens after the £500 million contingency reserve is exhausted? Where do you go next?

  • Contingency (Supplementary) [17]

    • Question by: Bob Blackman
    • Meeting date: 25 April 2007
    Finally, what process is there for adjusting the prices within a contract once the contract has been let if unexpected costs arise?