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Costs rise, but 2012 Olympics expected on budget
Posted: 02.05.2009 at 12:02 PM
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LONDON (AP) -- British Olympic organizers say construction costs for the 2012 London Games have risen but will be offset by savings in other areas.

The Department of Culture, Media, and Sport says in its annual report that the games will still come within its overall $13.6 billion budget.

The report, released Thursday, says the cost of building the Olympic stadium was originally priced at $726.7 million, but could cost $801.4 million.

Increases in the aquatics and cycling venues are also possible.

Last month, organizers were forced to dip into their contingency fund to pay for the athletes' village and the international media center.

Both projects were hit by a shortfall in private funding because of the global credit crisis.

(Copyright ©2009 by The Associated Press. All Rights Reserved.)

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