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London's wildly over-budget Olympics: By the numbers
The Summer Games are still a month away, but the city has already exceeded its budget by 101 percent — and counting
 
Olympic mascot Wenlock poses next to a British royal guard under the newly revealed Olympic rings in Heathrow Airport: The total cost of the London Olympics, including the cost of security, could end up being about $37.5 billion.
Olympic mascot Wenlock poses next to a British royal guard under the newly revealed Olympic rings in Heathrow Airport: The total cost of the London Olympics, including the cost of security, could end up being about $37.5 billion.
REUTERS/Luke MacGregor

The 2012 London Olympics are shaping up to be the most expensive games in history, according to a study by the University of Oxford. The Summer Games, which begin July 27, are also on track to be the most over-budget since the 1996 games in Atlanta. Just how deeply mired in red ink will London be by the time the Olympic flame is extinguished in August? Here, a look at the Olympic finances, by the numbers:

$13 billion
Expected sports-related cost of the London Olympics

$6.5 billion
Original estimate of the 2012 Summer Games budget

101
Percentage increase in the games' estimated cost, from the 2005 bid to now

147
Percent that the Atlanta Olympics went over budget in 1996 — the last time the games wound up costing more than twice as much as they were originally supposed to

4
Cost overrun, in percent, at the Beijing Olympics in 2008

60
Percent that the Athens Olympics ran over budget in 2004

179
Average cost overrun, in percent, of the sample of 17 summer and winter Olympics examined in Oxford's study

47
Average overrun, in percent, in the years 2000 to 2010

258
Average overrun, in percent, from 1968 to 2000

$37.5 billion
Projected total cost of the London Olympics, including everything from sports-related spending to security to overtime for subway train drivers, according to a Sky Sports investigation

14,000
Security guards added after the original estimate of 10,000 was determined to be inadequate

$864 million
Current estimate of the security budget, which doubled because of needs not initially spotted 

$524,000
Price tag for a single outdoor sculpture called Jurassic Stones — which locals have dubbed "row of stones on sticks" — erected to greet motorists arriving at a venue for sailing events

Sources: Bloomberg, Business Insider, Daily Mail, Said Business School

 

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