INSTITUTE OF DIRECTORS P O L I C Y / I N F O R M AT I O N B R I E F I N G N OT E
The 2012 Olympics:
Business opportunities for IoD members
The successful delivery of the 2012 Olympics will depend largely on the support of the business community. This IoD factsheet provides a starting point for IoD members looking to get involved. The Olympic Games will run from 27th July to 12th August 2012. The Paralympic Games will run from 29th August to 9th September. Most of the Olympic events will take place within the newly built Olympic Park in the Lower Lea Valley, east London. 15 of the 26 sports will take place within 4 miles of Tower Bridge, but others will be held elsewhere in London and the UK. Football matches will be at Old Trafford (Manchester), Villa Park (Birmingham), Hampden Park (Glasgow), St James' Park (Newcastle), Millennium Stadium (Cardiff) and Wembley Stadium (London); sailing events will be at Weymouth and Portland; tennis will be at Wimbledon; archery at Lord's Cricket Ground; rowing at Eton-Dorney; triathlon in Hyde Park; equestrian and modern pentathlon in Greenwich Park; and beach volleyball on Horse Guards Parade.
Who's in charge?
The London Organising Committee of the Olympic Games (LOCOG) is the key body charged with preparing and staging the Games. LOCOG is chaired by Lord Coe; the CEO is Paul Deighton (formerly of Goldman Sachs). The Olympic Delivery Authority (ODA) works alongside LOCOG. The ODA's brief is to deliver the venues, infrastructure and legacy facilities. Both LOCOG and the ODA report to the Olympic Board, whose members are the games' key stakeholders: Lord Coe (LOCOG); Simon Clegg (Chief Executive, British Olympic Association); Mayor of London Ken Livingstone (Greater London Authority); and Olympics Minister Tessa Jowell (Department of Culture, Media and Sport). The London Development Agency (LDA) will be the source of contracts for demolition, remediation and bulk earthworks.
What business opportunities will be available?
The 2012 Olympics will provide business opportunities for almost every sector. As well as construction and engineering, there will be contracts for merchandising, catering, design and marketing.
P O L I C Y / I N F O R M AT I O N B R I E F I N G N OT E
According to www.london2012.com, most opportunities for SMEs will arise from the supply chains around the major contracts. The main requirements will be for: people - on both short and long-term contracts; Olympic Park work - assembly, land remediation, construction etc.; venues - including the support facilities and transport infrastructure; legacy - dismantling and conversion of facilities to long-term use; and operations - sponsorship, equipment, seating, security, catering and merchandise. These will be particularly important sources of opportunities for small firms.
LOCOG is looking to raise around 35% of its £2 billion commercial revenue target from sponsorship deals with British businesses, of which 80% would come from approximately 10 'Tier One' companies. There would also be 20 to 30 'Tier Two' sponsors and 30 to 50 in 'Tier Three'. Full details of the sponsorship plan will be published later this year.
Key contacts for business
www.london2012.com is the key starting point for information on all aspects of the London Olympics and the source of much of the information in this factsheet.
London Organising Committee of the Olympic Games 1 Churchill Place London E14 5LN Tel: 0203 2012 0000 www.london2012.com Olympic Delivery Authority same address as LOCOG www.lda.gov.uk London Development Agency Devon House 58-60 St Katharine’s Way London E1W 1JX Tel: 020 7680 2000 www.lda.gov.uk
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