UK expects 2012 Olympics to be under budget

Published Jul. 19, 2011 9:38 a.m. ET

foxsports

Britain's Olympics minister says the 2012 London Games will be delivered under budget.

Hugh Robertson says the anticipated final cost of the Olympic construction project has decreased by $25 million to $11 million since May.

Discussing the overall $15 billion cost of the games, Robertson told reporters on Tuesday that he is confident that the Olympics will come in under budget.''

As London prepares to mark the one-year countdown next week, the Olympic Delivery Authority says 88 percent of the construction is complete.

Robertson says the ODA has driven down costs, and ''can celebrate one year to go with confidence and a real sense of excitement and expectation.''