VANOC might need IOC cheque
The Globe and Mail
By Robert Matas, The Globe and Mail Posted Tuesday, February 9, 2010
3:01 PM ET
 
 
International Olympic Committee president Jacques Rogge may have
been overly optimistic in saying that Vancouver will balance its
operating budget without a cheque from the IOC.
 
"We are going to do everything we can to minimize the amount we
need," Dave Cobb, executive vice-president of revenue, said Tuesday
in an interview.
 
But the Vancouver Organizing Committee will not hesitate to claim
the money if required to balance the books, he added.
 
"If we need the money for the good of that project, for the good of
the Games, we know the IOC would support us using it," Mr. Cobb
said.
 
Mr. Rogge said Tuesday VANOC was so flush with funds that he was
confident Vancouver could balance its $1.75-billion operating budget
without receiving up to $22-million in bail-out funds promised by
the IOC.
 
"We would never use it frivolously," Mr. Cobb said. "If we use it,
it will be on something that is really necessary to deliver great
Games," Mr. Cobb said.
 
Mr. Cobb also said VANOC would do everything they could to minimize
the amount the need.
 
Mr. Rogge was likely just hoping VANOC would not ask for the money
when he said it would not be necessary, he added.
 
"If we don't need it, it would allow him to invest in other areas,
on sports around the world," Mr. Cobb said.

Robert Matas, The Globe and Mail