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  • Turin Olympics Budget Pact Delayed


    12/16/04

     
    (ATR) The board of directors of TOROC has decided to postpone the December 21 board meeting meant to approve the budget for the 2006 Winter Olympics.

    A spokesman for the mayor of Turin tells Around the Rings that the board will meet on December 28. â??One more week is needed to verify the situation regarding money,â? he said.

    TOROC officials confirmed that the committeeâ??s supervisor, Mario Pescante, needs some more time to prepare a revised budget for the board to vote. Pescante needs to find 150 million euros to cover a shortfall resulting from lower revenue and higher costs than originally foreseen.

    Pescante is also working on a major sponsorship deal for the organizing committee that is said to be close to completion.

    More on this story and the weekâ??s Olympic news in the December 17 issue of Around the Rings.Com, for subscribers only.

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    (Copyright 2004, all rights reserved. The information in this report may not be published, excerpted, or otherwise distributed in print or broadcast without the express prior consent of Around the Rings.)