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Not everyone can be an elite Olympic athlete - but they're not the only ones who stand to walk away with gold from the 2012 London Olympics. There is 9.3 billion of Olympic spending up for grabs. Who will be sharing the riches? We outline some of the winners below and suggest some ways that you can profit.
Lord Coe
The Chairman of the London Organising Committee for the Olympics stands to do quite well. With a reported annual salary of 285,000 from 2005 until 2012, he stands to earn well over 2 million. In addition, a Channel 4 Dispatches programme found that in the two months after London was awarded the Olympic Games in June 2005, Lord Coe was thought to have earned an additional 200,000 from private speaking engagements, product endorsements and consulting work.
Olympic Sponsors
Adidas, British Airways, BP, BT, EDF, Nortel and Lloyds TSB are the seven Official Olympic Partners for the London games. Each paid 50 million for the privilege. After the success of the British Olympic Team and their 18 gold medals in Beijing, these companies stand to profit very well from their association with the 2012 games.
Reuben Brothers
These billionaire brothers owned much of the land around Stratford which they sold two years ago for development into the Olympic Park. They are thought to have made a profit in excess of 100 million.
Lend Lease & Westfield
Two major Australian developers who have been awarded a large slice of the development of the Olympic Park pie and its surroundings; Westfield are developing a large shopping centre in Stratford for which they are thought to have received a contribution of over 100 million from the Olympic Delivery Authority to ensure it will be finished in time for the 2012 games.
Lend Lease have been given the job of building and financing the Olympic village project with a budget of over 1 billion. They, and their backers, are thought to have stumped up 600 million of this total with the remaining 400 million from taxpayers. It doesn't end there. After the Olympics they are committed to a further 4.5 million square foot project, with a potential value of 3.5 billion, comprising more housing, offices and hotels.
Construction Industry
An entire Olympic Village, plus an estimated 12,000 new hotel rooms, are to be built over the next few years. This is could result in over 20,000 new jobs in the construction industry.
Tourism Industry
London is preparing for a possible windfall of 2.2 billion. All those tourists are going to be leaving a lot of cash in their wake.
The people of East London
There is no denying the benefits the Olympics will bring to a run-down part of London. The Olympics resulted in the final commitment to the 10 billion Crossrail project which will ease travel for all Londoners. There is 1.7 billion being spent on roads and bridges in the 10 miles around the Olympic site, and by 2012, there will be 10 train and tube lines at Stratford. House prices are expected to rise throughout much of the East End.
Cashing in
If you are looking to cash in, you might consider investing in property in the East End, buying shares in one of the many publicly traded companies which stand to profit from the games, or starting your own business which will cater to Olympic development.
Written by Knight Hooson |
