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  • Check Is In The Pocket: Olympics $ Fix


    02/09/05

    <P>(ATR) The government's supervisor for the 2006 Olympics says Tuesday's accord in Rome to rescue Turin from a 170 million euros budget gap is a big step.<BR><BR>"The main issue is the check in the pocket," says Mario Pescante about the deal.<BR><BR>He tells Around the Rings that what is needed now is to establish some new public companies which would receive money from the state to operate services TOROC needs to provide for the Games.<BR><BR>The public companies are required because the government cannot provide a direct bailout to TOROC, a private company. <BR><BR>"Public company with the public money," will be the rule says Pescante. <BR><BR>The companies could provide TOROC with services such as transportation or power, two large bills for an OCOG. Pescante says it now is a matter of deciding what can be taken over from TOROC by one of these new public firms.<BR><BR>The financial plan will be presented to the IOC Executive Board when it meets in Turin starting in Thursday. <BR><BR>More Olympic news of the week in February 11 issue of Around the Rings, for subscribers only. <BR><BR>Coming this week, on-line: The Road to Torino, an Around the Rings Special Edition marking one year to go until the 2006 Games.</P>