Gaining From the Games? The Claims and Denials

Summary

---

Claims: That fees earned by Sebastian Coe Ltd set up in March 2005 to handle payments for speeches, endorsements and consultancy work was a consequence of winning the Olympic bid. The money was paid to SCL in July and August shortly after the 2012 triumph. Dispatches says that agencies charge up to 15,000 per speaking engagement, advertising their client as "chairman of Locog" and "the man who won the Olympics for London". SCL was due to earn 850,000 for the year ended December 2006.

Response: Locog said the income is from a range of business interests and includes quarterly and halfyearly payments from longstanding business relationships, some of which date back almost 20 years to his days as a world champion athlete. Any speaking engagements are made with "Seb the man" and he requires a written promise that no link is made with London 2012. All his outside interests are registered with the Department for Culture, Media and Sport, Locog and the International Olympic Committee. SCL has yet to submit accounts, although the earnings are expected to be less than 850,000.

See the full content of this document

Extract

---

Gaining From the Games? The Claims and Denials

COE'S 'AMBITIOUS PLANS' WITH FORMER BANKRUPT Claim: Dispatches says shortly after the bid win Lord Coe's interests were consolidated into Complete Leisure Group and businessman Peter Abbey helped attract 1million in investment to the company. A prospect...

See the full content of this document

---