Turin Olympic budget approved

TURIN, Italy - The final budget for next month's Winter Olympics was approved Monday, covering a $96.3 million shortfall that caused months of delays.

The vote had been scheduled for last month and was further delayed last week while the Turin organizing committee completed last-minute sponsorships and other plans to cover the gap.

The approved budget - covering the operating costs of the Feb. 10-26 games - totals $1.4 billion. Overall spending, including construction, is estimated at more than $3.6 billion.

"Alarmism was creating turbulence and confusion. Approving the budget has distanced us from these risks," said Cesare Vaciago, chief executive of the local organizers. The organizing committee reportedly faced bankruptcy proceedings if the budget was not approved.

Valentino Castellani, president of the organizers, added: "Of course, we won't know what the final numbers are until after the games. But this was an important step today."

The plans include a scratch-card lottery expected to produce $24 million. City and local authorities are to chip in upward of $48 million, helped by the sale of 200 apartments in the athletes' village. Another $24 million will come from the Piedmont region that includes Turin.

Castellani said $24 million in contingency funds were included in the budget.

Games government supervisor Mario Pescante is still trying to end the dispute over how Italy's anti-doping law will be applied at the Olympics. He said a meeting was planned Thursday with the health ministry and others "to resolve this soap opera."