The Sports Business Group at Deloitte calls for greater emphasis to be placed on improved funding and government resource as success in sport comes under the spotlight

London’s Olympic dream of hosting the 2012 games has been realised.  After seven years of planning, London has delivered a successful bid and won an international competition of Herculean proportions.  The Sports Business Group at Deloitte congratulates the Bid team but believes that there is now a further big push needed to deliver a fantastic Olympic games in 2012.  The business advisory firm outlines its recommendations to drive British sporting success now in 2012 and in the future.

According to Dan Jones, Head of the Sports Business Group at Deloitte: “Over the last few weeks and months momentum has built in support of the London bid.  From a slow start, London put together a strong technical bid and the use of highly experienced and talented athletes in the bid team clearly separated us from the competition.  London was able to be confident that it stood a strong chance alongside the other four compelling contenders.  We won in part, because of Sebastian Coe’s leadership and the team's vision of regeneration of urban areas, the sporting legacy, job creation and the boost to the local economy.”

Jones added: “To compete at an Olympic level we must identify the talent that can win medals and provide the first-rate training to give our athletes the best sporting chance on the track.  Today’s historic decision is an opportunity to make a fundamental change in British society and position UK sport as a top public policy priority for the future.”

Jones believes the challenge going forward is to build stronger grass roots participation and excellent facilities.  The Sports Business Group at Deloitte warns attention must be paid to ensure basic investment is in place first.  Jones commented: “We believe it is important to increase the political power behind the responsible minister and to improve the mechanisms for funding sport.  The UK governing bodies of our Olympic sports need to develop their plans to deliver the best team to compete in 2012, identify what resources and funding they need and where this should be spent. For their part, Government must give sport the space and funding to get on with it”

“Getting more money into sport in the right way is a central message on which UK Olympic success will hinge.  Perhaps now with a renewed energy and sense of national pride we can use this as a spring board to improve sport in the UK and win a large number of Olympic gold medals in 2012.”

Ends

Notes to editor
Deloitte were official champions of the bid and Neil Wood, FD to 2012, was seconded from the firm for the duration of the bid.

About the Sports Business Group at Deloitte
Over the last decade Deloitte has developed a unique focus on the business of sport. Our specialist Sports Business Group offers a multi-disciplined expert service with dedicated people and skills capable of adding significant value to the business of sport. Whether it is benchmarking or strategic business reviews, operational turnarounds, revenue enhancement strategies or stadium/venue development plans, business planning, market and demand analysis, acquisitions, due diligence, expert witness, audits or tax planning; we have worked with more clubs, leagues, governing bodies, stadia developers, event organisers, commercial partners, financiers and investors than any other adviser.

For further information on our services you can access our website at www.sportsconsulting.co.uk 

About Deloitte
In this press release references to Deloitte are references to Deloitte & Touche LLP.

Deloitte & Touche LLP is the UK's fastest growing major professional services firm based in 21 UK locations, with over 10,000 staff nationwide and fee income of £1,246 million in 2003/2004. It is a member firm of Deloitte Touche Tohmatsu, a leading professional services organisation, delivering world class audit, tax, consulting and corporate finance services, with around 120,000 people in over 140 countries. Deloitte Touche Tohmatsu is a Swiss Verein, and each of its national practices is a separate and independent legal entity.

Deloitte & Touche LLP is authorised and regulated by the Financial Services Authority.

The information contained in this press release is correct at the time of going to press.