HOW MUCH IS THE OLYMPIC?

The cost of the Olympic Games (Summer and Winter) have been studied by Oxford scholars Bent Flyvbjerg and Allison Stewart. They found that over the past 50 years the most costly Games have been London 2012 (USD14.8 billion), Barcelona 1992 (USD11.4 billion), and Montreal 1976 (USD6 billion). Beijing 2008 may have been more costly or not; the Chinese authorities have not released the data that would allow verification of either position. Cost here includes only sports-related costs and thus does not include other public costs, such as road, rail, or airport infrastructure, or private costs, such as hotel upgrades or other business investments incurred in preparation of the Games, which are typically substantial but which vary drastically from city to city and are difficult to compare consistently.
Flyvbjerg and Stewart further found that cost overrun is a persistent problem for the Olympic Games:

• The Games overrun with 100% consistency. No other type of megaproject is this predictable regarding cost overrun. Other megaprojects – in construction, infrastructure, dams, ICT – are typically on budget from time to time, but not the Olympics.
• With an average cost overrun in real terms of 179% – and 324% in nominal terms – overruns in the Games have historically been significantly larger than for other types of megaprojects.
• The largest cost overruns have been incurred by Montreal 1976 (796%), Barcelona 1992 (417%), and Lake Placid 1980 (321%), all in real terms.
  • The data show that for a city and nation to decide to host the Olympic Games is to take on one of the most financially risky type of megaproject that exists, something that many cities and nations have learned to their peril. For example, cost overrun and debt from Athens 2004 substantially worsened Greece's financial and economic crises 2008–12. Montreal took 30 years to pay off the debt from the 1976 Games.
  Finally, Flyvbjerg and Stewart found that over the past decade, cost overrun for the Games has come down to more common levels for megaprojects. For the period 2000–2010 average cost overrun was 47%, whereas before that average overrun was 258%. However, London 2012 has reversed this trend with a cost overrun that, at 101% in real terms, is back in the three-digit territory. Going forward, the challenge for planners and managers of the Games will be to get cost overrbe to get cost overrun and costs back under control, and to reduce them further, conclude Flyvbjerg and Stewart.

TOP EPL TEAMS ON TOUR

The preseason as begin in Europe and most teams are preparing hard in order to have fruitful season, leaving their base to site their camps in abroad and also to maximize the commercial aspect of the preseason. The America and Asia continent are the main haven for most teams.

The following presents the preseason fixtures of your favorite teams 

Arsenal’s preseason fixtures

Date	Opponent	Time/Result
14/7/2012	Vs Anderlecht Vs Southampton	1-0 1-1 lost 4-5 on Pen.	Mary’s memorial’s cup
24/7/2012	Vs Malaysia XI	2:45 p.m
27/7/2012	Vs Man city	1 p.m	Winoly Cup
29/7/2012	Vs Kitchee	10 a.m
12/8/2012	Vs Cologne	5 P.m

Liverpool’s preseason fixtures

Date	Opponent	Time/Result
21/7/2012	Vs Toronto	1-1
25/7/2012	Vs Roma	11:30 p.m
28/7/2012	Vs Totenham	6 p.m
12/7/2012	Vs Bayern Leverkusen	3 a.m

Man City’s preseason fixtures

Date	Opponent	Time/Result
13/7/2012	Vs Al-hilal	0-1
17/7/2012	Vs Dynamo Dresden	0-0
27/7/2012	Vs Arsenal	1 p.m	Winoly Cup
30/7/2012	Vs Malaysia XI	7:45 p.m
31/8/2012	Vs Oldham athletic	7:45P.m

Chelsea’s preseason fixtures

Date	Opponent	Time/Result
19/7/2012	Vs Seatle Sounders	2-4
22/7/2012	Vs P.S.G	1-1
25/7/2012	Vs MLS all stars	2:55 a.m
28/7/2012	Vs A.c Milan	12:30 a.m
4/8/2012	Vs Brighton	4: 00 p.m
12/8/2012	Vs Man City	2:30 p.m

Man Utd’s preseason fixtures

Date	Opponent	Time/Result
18/7/2012	Vs Amazulu	1-0
21/7/2012	Vs Ajax capetown	1-1
25/7/2012	Vs Shangai Shenhua	1 p.m	Shangai China Cup
5/8/2012	Vs Valerenga	3p.m
8/8/2012	Vs Barcelona	7 p.m
11/7/2012	Vs Hannover	7:20 p.m

Totenham’s preseason fixtures

Date	Opponent	Time/Result
18/7/2012	Vs Stevenage	2-0
24/7/2012	Vs L.A Galaxy	3:30 p.m
28/7/2012	Vs Liverpool	6:00 p.m
31/7/2012	New York Red Bull	12:00 a.m
9/7/2012	Vs Valencia	8:00 p.m

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THE VALUE OF AN OLYMPIC GOLD MEDAL

THE REAL DEAL

“At the Olympics you don’t win the silver, you missed the Gold medal” – Anonymous.

The statement above aptly described the value that is attached to the Olympic gold medal even when the first paragraph of the Olympic creed reads

“The most important thing at the Olympics is not to win but to take part” but the way an Olympic gold medal winner is being celebrated, honored and adored,No serious athlete will consider just to take part” ahead of winning and not just winning any of the medal but the real deal, THE GOLD MEDAL.

            The podium value of the Gold medal cannot be quantified, it signifies honor, fulfillment, the fan celebrate and worship the winner demy god, the paparazzi, from the media and press interview are directed at them, even the government and cooperate bodies see them as a brand that can improve the country image or the cooperate body’s image and patronage all the social and commercial endorsement comes their way.

            The symbolic value attached to this precious round metal by the winner is even more than that of the fan, government or cooperate organization because the satisfaction derived from achieving such feat is priceless, an extra ordinary performance of few seconds has transform an ordinary athlete into hero or heroine overnight. It was written in the history book that some winners of the ancient Olympic Games were rewarded with free food for life, free housing for life, erection of their status e.t.c, and thousands of dollars were given to the winners as rewards in the modern Olympic Games.

            The Gold medal presently have 1.5% of gold in content and that account for 6grams of the total weight of the medal and that alone worth over 600 dollars at current market price while 92.5% of the medal is silver and copper make up the remaining 6% they both weight 400gram and cost over 1200 dollars at current price but Aside this economic value the glory and honor that go with medal has make the resale of the medals hard to come by, and when they are rarely put up for sale the massive rush for the object is unprecedented for example: Mark well, a member of the 1980 American hockey, auction his Gold medal in 2010 for 310,700 dollars.

            The ultimate value lies in what athlete put into winning and not what the athlete get from it. It takes many years of dreams, practice, patience, diligence, courage, believe, dedication, fairness and truthfulness to achieve an overnight success. A victory gotten from hard work and culmination of one’s effort is a great delight to the mind and not one anchored on ding cheat.

            As we countdown to the beginning of another Olympic, the athletes are on the practicing field rearing to go and “not to just take part” but to go for the GOLD.