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VANOC on schedule, on budget

Draws $2 million from contingency fund for venue construction

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VANOC also signed a licensing agreement with Moving Products to produce VANOC and Canadian Olympic Committee products, bringing the total number of licensee agreements to 21.

There are still more sponsorship sectors, and according to Chris Brumwell, manager of media relations for VANOC, negotiations are continuing with sponsors in many key areas.

“There are still a lot of sponsorships to be had — in the last quarterly report the number was 23, and there is still a number to go,” he said. “We have already identified a lot of them, and I know our team is working hard, and having meetings with potential sponsors to get them signed on.

“I do know we have exceeded our sponsorship goals since the beginning, and that there is a lot of interest in being involved in these Games.”

According to McLaughlin, the provincial and federal governments have contributed to the funding for the construction budget, while operating costs leading up to and after the Games will be shouldered by IOC contributions, corporate sponsorships, ticket sales, licensing fees, and other sources of revenue. To date they have commitments to cover approximately $1.4 billion of their $1.6 billion projected operating budget.

 

The quarterly report also includes an update on venues.

According to Dan Doyle, head of venue construction, all but three venues are on schedule to open by the end of this year. The last project to get underway was the Hillcrest Nat Bailey Stadium, which will host curling events in 2010. The Richmond Skating Oval and renovation of a practice hockey arena have also experienced delays, but are on track for 2008.

“The time lines we’re working under are very aggressive, which will reduce the risk of an increase to our capital budget and provide our athletes with a window of opportunity to train at and become familiar with venues to have a real home field advantage,” said Doyle. The goal from the start was to give athletes a minimum of two years to train at Olympic venues, and for facility managers to prepare for the Games by hosting test events.

All of the Whistler venues — the Nordic Centre, Sliding Centre, and alpine runs are on track, and will be hosting test events and training this coming winter.