OLY: AOC bid for NSW to lose Olympic profit

AAP General News (Australia)
01-19-2000
OLY: AOC bid for NSW to lose Olympic profit

New South Wales taxpayers could miss out on the planned $30 million surplus from the
Sydney Olympics under a deal to cut losses on staging the games.

According to newspaper reports today, Australian Olympic Committee president JOHN COATES
approached Olympics Minister MICHAEL KNIGHT before Christmas, saying he was willing to
give up some of the AOC's $100 million guaranteed windfall.

The $100 million was compensation for the AOC giving up its right to 90 per cent of
the …