LONDON 2012 chief executive Paul Deighton has welcomed the resolution of the cash row with the British Olympic Association (BOA).
A bitter disagreement between the two key organisations involved in next year’s Games over how profits would be divided had threatened to engulf the event. But the BOA have relented and accepted a 20 per cent cut of the surplus, once the cost or otherwise of the Paralympics has been taken into account.
Deighton (right) said: “I am glad this issue has been put behind us and we can all get on with delivering Games next year that will make this country proud.”
BOA chiefs Lord Moynihan and Andy Hunt will be accepted back onto the London 2012 board following the peace deal.