Contact: Jo Ouvry
Deloitte UK
Public Relations
+44 (0) 20 7303 0587

London, July 21, 2005 — The story of London's come-from-behind win for the 2012 Olympics has well-known names like gold medalist Sebastian Coe and Prime Minister Tony Blair. But some Deloitte UK professionals can also share the credit.

The Deloitte member firm in the UK is one of 16 official champions of the bid, which has been a marathon effort. For seven years, London has been developing its strategy to host the international games, and the bid team, which includes Deloitte UK audit partner Neil Wood, has worked on the proposal's logistics for the past 12 months. Initially, the team was challenged with concerns regarding transport, venue locations, legacy solutions and constructing an operating budget.

"Deloitte UK was instrumental in negotiations over tax concessions," says Wood, who served as London 2012 Finance Director. "I was especially pleased with the Evaluation Commissions' comments on London's financial plans, describing London's £2.4 billion operating budget as 'very detailed and meticulous.'"

As the contest narrowed down to four contenders — New York, Madrid, London and Paris — Paris seemed to be London's greatest competitor. London was ranked third behind Paris in the initial IOC assessment in May. However, both cities' bids were rated as "very high quality," in the IOC Evaluation Commission report released in June.

Alex Kyriakidis, Deloitte Touche Tohmatsu's Industry leader for Tourism, Hospitality and Leisure, says it was the total quality of the bid that put London on top. "Paris had the cultural dimensions," says Kyriakidis. "Perhaps they had some of the facilities in place, but this was really all about the total quality of the bid across the board, and that’s what made the difference."

Organizers hope the 2012 Olympic Games will improve the economy not just in London, but throughout the UK by increasing tourism and job opportunities, revitalizing underdeveloped areas and erecting new facilities.

For Deloitte UK, this is just the beginning. 

Kyriakidis says, "Deloitte's member firm in the UK is continually committed to supporting the Olympic process right through to the games. Not only in associating ourselves and getting our people to support the Olympic bid, but also in working with the global tourism industry to get London and the UK ready to receive the Olympics."

About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms, and their respective subsidiaries and affiliates. Deloitte Touche Tohmatsu is an organization of member firms around the world devoted to excellence in providing professional services and advice, focused on client service through a global strategy executed locally in nearly 150 countries. With access to the deep intellectual capital of 120,000 people worldwide, Deloitte delivers services in four professional areas — audit, tax, consulting, and financial advisory services — and serves more than one-half of the world's largest companies, as well as large national enterprises, public institutions, locally important clients, and successful, fast-growing global growth companies. Services are not provided by the Deloitte Touche Tohmatsu Verein, and, for regulatory and other reasons, certain member firms do not provide services in all four professional areas.

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