Beware the 'bottom line'
Sports Minister warns Olympics organizers
Posted: Thursday November 19, 1998 12:39 PM
CANBERRA, Australia (AP) -- Federal Sports Minister Jackie Kelly
warned Sydney Games organizers Thursday about creating another
debt-plagued Montreal Olympics after it was revealed the wages bill
of senior executives had doubled.
The Sydney Organizing Committee for the Olympic Games (SOCOG)
annual report shows A$5.73 million (US$3.61 million) was paid to 23 executives in 1997-98, compared with A$2.62
million (US$1.65 million) paid to 17
executives in 1996-97.
Figures showed three executives received A$400,000 (US$252,000) or more this year compared with one
last year.
Kelly said she would be watching out for the "bottom-line"
cost of organizing the 2000 Games.
"We don't want to see a Montreal," Kelly said, referring to
the 1976 Montreal Olympics in Canada, the greatest financial
catastrophe of the modern Olympic era, which ran up an estimated
loss of around US$630 million.
"We want to see the whole Sydney Olympics be successful, not
just as a national event for Australia of which we can be
incredibly proud, but also a financial success," she said.
SOCOG denied there had been a blowout in senior executive
salaries.
A spokesman said a number of executives had been appointed
midway through the last financial year, so their full salaries were
not included in the 1996-97 figures but showed up in 1997-98.
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