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London, British government to split bill

Updated: January 24, 2003, 11:56 AM ET
Associated Press

LONDON -- London's proposed bid for the 2012 Olympics received a boost Friday when the British government and London mayor agreed on a package to pay for the games.

The deal came a week before Prime Minister Tony Blair's cabinet is to decide whether to go ahead with a bid.

Under the agreement, the government and city of London would split the projected $4.1 billion cost of capital projects for the Olympics.

The money would come from government grants, lottery funds, ...

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