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Thursday, May 30, 2013
London dishes out surplus money

Associated Press

LONDON -- London Olympic organizers say a surplus of $45 million from the 2012 Games will be handed out to the government, Britain's Olympic committee and others.

The British Olympic Association will receive $8 million, and another $4 million will go to the British Paralympic Association.

About $30 million will be returned to the government, which provided most of the funding for the $14 billion Olympic project.

Cash will go to international development projects that were central to London's Olympic bid.

The London organizing committee, which was not responsible for building venues, reported spending $3.6 billion since winning the bid in 2005 and generating $3.7 billion.