NSW: SOCOG financial black hole blows out to nearly $200million

AAP General News (Australia)
02-03-2000
NSW: SOCOG financial black hole blows out to nearly $200million

The Olympic Organising Committee is facing a financial black hole of almost $200 million,
following a miscalculation of the number of tickets for sale.

The budget figures sent to board members last night revealed the expected ticketing
revenue is $76 million short of the $608 million projected in last year's budget.

The Daily Telegraph reports last December SOCOG was $100 million short on expected
revenue, but last night's figures show the total revenue shortfall has reached $193 million.

SOCOG sources told The Telegraph …