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Chinanews, Beijing, November 17 – With the opening of 2008 Beijing Olympic Games drawing near, the general public has become more and more curious about the preparation of the Games, particularly about its environmental effect., thus Yu Zaiqing, the vice1 chairman of BOCOG and deputy director of the National Sports Administration, had an interview given to a local newspaper.
“I am confident to say that the 2008 Beijing Olympic Games won't need any financial support from the central government, which is very rare throughout the entire history of Olympic Games. We have started the operation of the Games in a business way. All the investments on the Olympic venues2 are from enterprises, which will be able to retrieve3 the investment via using the venues as commercial stadiums and gyms after the Games. Thus both the problem of building Olympic venues and using them after the Games will be solved, not to mention that such venues can be a great benefit to the general public,” said Yu. The total cost of hosting 2008 Beijing Olympic Games is estimated to be $2.4 billion, and all the money needed has been and will be collected in a market way. The authorization4 of broadcast right of the Games alone has brought in $1.67 billion, 49% of which has gone to the BOCOG. The business cooperators of the Beijing Olympic Games have also contributed a great deal, including famous enterprises like Samsung and Panasonic. The sales of Olympic-related goods and the admission tickets of the Games have also helped the collection of the funds. It is estimated that the 2008 Beijing Olympic Games will net a profit of $20 million - $30 million, which will be used to set up a special fund for Chinese athletes.
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