Paul Deighton, Locog chief executive, told the Commons home affairs select committee that the firm have received around £90m of the agreed £236m fee to provide security guards for this summer’s Olympic and Paralympic games.
Just 16 days before the event began G4S admitted it could not provide all of the required 10,400 guards, forcing the government to call in the armed forces and leaving the FTSE 100 company with a substantial bill and untold reputational damage.
Deighton said the company was completely responsible for the failure to fulfil the contract: “They could and should have been able to deliver it.”
Locog is now in discussions with the firm to come to an agreement over the remainder of the contract.
Nick Boles, the firm’s chief executive, told MPs that he would push for the maximum payment.
“I’m not going to sit here and say we did a great job but we delivered a significant proportion of the contract. I expect them to pay us in line with the terms of the contract,” he said.
Buckles also confirmed his company would not be bidding for the security contract for the 2016 Olympics in Rio de Janeiro.