The Governments of Canada and the Province of British Columbia have approved the funding request of $110 million made by Vancouver Organizing Committee (VANOC) for the 2010 Olympics.
VANOC had asked the provincial and federal governments in October 2005 to share equally ($55 million each) in the funding of the estimated $110 million increase in capital costs. Although there seemed to be some governmental choking up at the increased costs, both entities bit the bullet and agreed to cough up the money.
In a recent press release, Vancouver 2010 Chairman of the Board, Jack Poole, said about the funding approval “It is also excellent news for Canadian athletes dreaming of winning gold in 2010 as we can now confidently work towards providing them with the opportunity to train on Vancouver 2010 venues well before the Games in 2010.”
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