The publication of the London 2012 organising committee’s annual accounts has highlighted the large salaries earned by those responsible for delivering the Olympics.
Locog chief executive Paul Deighton received a total package of £699,998 in 2010-11, including a £220,125 bonus that he will donate to charity. His chairman Lord Coe was paid £357,000.
Both had their basic salary in 2010-2011 frozen in a nod to the economic climate, and Locog say the salaries reflect the company’s progress in meeting targets. By happy coincidence, they announced that the £700m sponsorship mark had been reached a couple of hours before they published the annual report. Locog also point out that it is a private company and that salaries reflect market rates.
There is no arguing that progress has not been impressive across the project. Deighton, Coe and senior executives at the Olympic Delivery Authority deserve – and receive –credit. Sponsors have signed up, the majority of the tickets have been sold, infrastructure has been built and the recent test events were promising.
Even so it is a stretch to argue that Locog, the body responsible for staging the games, is a straightforward private enterprise . Technically it may be, but it would not be possible for Locog to operate without the £9.3bn public investment in the Olympic Park and other infrastructure. Without this taxpayer subsidy there would be no games.
Deighton is at the top of the Olympic pay league, but only just. When it comes to the Olympics some public sector executives are earning gold-medal salaries too. At the ODA, the Government Olympic Executive (a division of DCMS tracking Olympic progress) and UK Sport, which funds the athletes, six-figure salaries are common.
David Higgins, the former chief executive of the Olympic Delivery Authority, was paid £544,000 last year, made up of a £325,000 salary, a performance bonus of £179,000 and pension payments of £40,000.
His replacement Dennis Hone earned £401,000 last year and a further seven directors earned more than £200,000. Over at the Government Olympic Executive meanwhile director general Jeremy Beeton receives between £265,000 – £270,000.
Here’s a full list of executives across the Olympic project whose most recent declared annual remuneration exceeds £100,000.
- Paul Deighton, LOCOG chief executive £699,998* (salary £479,873, bonus £220,125)
- David Higgins, ODA former chief executive £544,000** (salary £325,000, bonus £179,000, pension £40,000)
- Dennis Hone, ODA chief executive £401,000** (salary £274,000, bonus £79,000, pension £48,000)
- Sebastian Coe, LOCOG chairman £357,000*
- Howard Shiplee, ODA director of construction £320,000** (salary £287,000, pension £33,000)
- Jeremy Beeton, GOE director general £265,000 – £270,000***
- Neil Wood, LOCOG chief financial officer £260,000*
- Alison Nimmo, ODA director of design and regeneration £257,000** (salary £228,000, pension £29,000
- Hugh Sumner, ODA director of transport £255,000** (salary £228,000, pension £27,000)
- Simon Wright, ODA director of infrastructure and utilities £255,000** (salary £228,000, pension £27,000)
- Ralph Luck, ODA director of property £255,000** (salary £203,000, pension £47,000, taxable benefits £5,000)
- John Armitt, ODA chairman £250,000
- Godric Smith, ODA director of communications £218,000** (salary £195,000, pension £23,000)
- David Goldstone, GOE finance director £185,000 – £190,000***
- Jonathan Stephens, DCMS permanent secretary £155,000 – £160,000***
- John Steele, UK Sport former chief executive £145,000 – £150,000****
- Liz Nicholl, UK Sport former chief operating officer £105,000 – £110,000****
- Tim Hollingsworth, UK Sport former communications director £100,000 – £105,000****
* For 2010-11 financial year. Source LOCOG Annual Report & Accounts 2010-11
** For 2010-11 financial year. Source ODA Annual Report & Accounts 2010-11
*** Salary band for financial year 2009-1. Source: DCMS Resource Accounts 2009-10
**** Salary band for financial year 2009 -10. Source: LOCOG Annual Report & Accounts 2009-10
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