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Our funding decisions

During its lifetime, the OLD made grant commitments to the ODA (venues and infrastructure); LOCOG (Paralympic Games, Cultural Olympiad, Live Sites), ELBA and ICSEMIS 2012

Olympic Delivery Authority (ODA)
A £2.6m grant was offered in April 2006 covering historic costs incurred prior to the ODA's incorporation.  Two interim grants of £75m and £77m were offered to the ODA in May 2006 and March 2007 respectively.  These were made to support the preparation of the ODA's Lifetime budget and Corporate Plan and to meet time critical early project expenditure. 

In February 2008, the OLD announced a new grant of £1,431m to the ODA.  The OLD grant is subject to a number of conditions, the purpose of which are to provide the basis for effective monitoring of the use of National Lottery funds and to secure value for money.  To read more, see the Press Release on our news page.

The OLD Board agreed a supplementary lifetime grant of £30.1m in December 2009 and a cashflow grant of £69.2m in February 2010.

London Organising Committee of the 2012 Olympic and Paralympic Games (LOCOG)
The OLD Board has also approved support to LOCOG for the Live Sites project.  The Board has provided grant of £2.62m to secure a minimum of eight new permanent Live Sites. In December 2009, the OLD agreed to offer LOCOG a further grant of up to £800,000 to fund two additional Live Sites Screens.

In July 2009, the Olympic Lottery Distributor announced funding of £15.6m for the Cultural Olympiad.  The OLD will be funding six of the ten Cultural Olympiad projects as follows:  World Shakespeare Festival; World River; Film Nation; Festival of Carnivals; Unlimited and Discovering Places.

In June 2010 the OLD Board agreed a supplementary grant of £1.04m to LOCOG to suppport delivery of the Cultural Olympiad.

In June 2011 the OLD Board agreed a grant of £66m to LOCOG to help fund delivery of the London 2012 Paralympic Games.

East London Business Alliance (ELBA)
In May 2010 the OLD Board agreed grants of £660,693 and £443,822 to ELBA to support the 'In the Parks' and 'Represent London' community projects. In June 2010 the OLD Board agreed to offer ELBA a further grant of up to £999,279 to fund the 'Transformers' community grants programme. In March 2011, the OLD Board agreed a supplementary grant of £756,206 to the Transformers small grants project to increase the size of the grant fund and support admnistratiave costs. In June 2011, the OLD Board agreed a supplementary grant of £94,173 for Represent London to support a London Ambassadors pod from where Represent London students would volunteer during the London 2012 Olympic and Paralympic Games.

In October 2011 the OLD Board agreed an additional grant of £250,000 to the Transformers Community Grants project to bring the funding for that project to a total of £2,005,485.

In February 2012, the OLD Board agreed to reduce the grant to the Transformers project by £7,500 and reduce the grant to the Represent London project by £20,000. At the same time it agreed to increase the grant to the In the Parks project by £42,001 (£27,500 from the reductions in Represent London and transformers and a commitment of £14,501 additional funds to ELBA).  

ICSEMIS 2012 (International Convention on Science, Education, Medicine and Sport):
In October 2011, the OLD Board agreed to fund the full or part cost of the ICSEMIS 2012 International Scholarship Scheme up to the value of £150,000 for 40 places.  The Conference was held in Glasgow from 19 - 24 July 2012.  The OLD Board also agreed to fund the ICSEMIS 2012  Young Investigators' Award up to the value of £5,000.

At the November 2012 Meeting, the OLD Board reviewed its remaining grants, in preparation for the final grant payments before its dissolution on 31 March 2013. It was agreed that the ODA grant should be abated by £26.1 million.  The OLD Board also agreed at that time to abate the grant to ELBA for Community Grants programmes as follows:

In the Parks:  £22,037.29
Represent London:  £29,486.77
Transformers: £46,719.35

and that the grant to LOCOG for the Cultural Olympiad be abated by £103,560.

Records of Board discussions relating to the London 2012 project and the background to the decisions to commit grant can be found in the summary minutes of the OLD meetings on the Publications page of this site. 


February 2013 Board Summary Minutes
» read more


Funding Factsheet


OLD Funding Policy