2014 Games '£25Million Under Budget'
6 November 2014, 13:59
The final cost of hosting the Commonwealth Games will be £25million below the total set aside for the event, organisers have said.
The budget was set at around £575million earlier this year including security costs, with £372million coming from public funds and the rest from sponsorship, merchandise and ticket sales and broadcasting rights.
It included contingency of £66.1million, with £42.3million of general contingency and a special reserve of £23.8million. It emerged in June that most of the contingency had been used but the special reserve, which required Government approval to use, remained.
The final budget will not be confirmed until accounts are completed early next year, but Glasgow 2014 expects to "conclude its operations significantly within budget''.
First Minister Alex Salmond said the remaining funds will be invested in the NHS.
Organisers said public support for the Games, tight budget controls, the commercial programme and "effective cross-organisational governance'' helped deliver the event £25million under budget.
During the 11 days of competition, nine world records and 142 Commonwealth records were set, including four Games records from Scottish athletes.
Team Scotland fielded its largest ever team with 310 athletes, and secured 53 medals - 19 gold, 15 silver and 19 bronze, ranking fourth in the overall medal table and surpassing its target of breaking its previous record haul of 33 medals in Edinburgh in 1986.
Mr Salmond discussed the Games budget during First Minister's Questions in the Scottish Parliament on Thursday and praised the legacy of Glasgow 2014.
"The Games in Glasgow was an outstanding success both in terms of its organisation and the way in which it engaged hundreds of thousands of people in enjoying the biggest event Scotland has ever hosted,'' the First Minister said.
"I am delighted to announce that in addition to being the greatest Commonwealth Games in history, it has come in almost #25million under budget, making it one of the few major sporting events in history which have managed to achieve that accolade and certainly the only one which has been both the greatest games and come in under budget.''
Mr Salmond added: "We have already announced that #6million will go into Scotland's first ever para-sports centre and #2million will support our successful legacy programme.
"The remaining funds will be invested back into Scotland's health service. It is clear that the benefit of the Glasgow 2014 Commonwealth Games will be felt in Scotland for generations to come.''
Chairman of Glasgow 2014 Lord Smith of Kelvin thanked organisers, businesses and communities for working together.
"From the outset, the focus of the Glasgow 2014 Organising Committee and our Games partners has been delivering a world-class Games for the Commonwealth which would make the people of Glasgow and Scotland feel proud,'' he said.
"Throughout the journey - and working closely with our Games partners - the team at Glasgow 2014 has focused on achieving excellence and also value in everything we've done.
"It gives me considerable pride to now be able to say that Glasgow and Scotland have made Games history, and have done so well within budget.''
Prince Imran, president of the Commonwealth Games Federation, said: "Glasgow 2014 and Games partners are to be warmly congratulated on their prudent and responsible approach to the delivery of what was an outstanding and joyful Commonwealth Games.
"Glasgow and Scotland's Games has set bold new benchmarks, energised and inspired the Commonwealth sports movement and invested in developing a long-term legacy which will benefit a wide range of people and communities for many years to come.''