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Lord Coe’s pay rises by a quarter to £357,000 for overseeing Olympics
Matthew Beard, Olympics Editor19 Aug 2009
Sebastian Coe saw his pay as head of the Olympic project rise by 25 per cent to £357,000 last year, it emerged today.
Accounts filed at Companies House by the 2012 organising committee, Locog, also showed that chief executive Paul Deighton is in line for a £1 million windfall if he delivers a successful Games.
Princess Anne was paid £5,000 — at a rate of £500 an hour — for attending Locog board meetings.
Locog said Lord Coe received a pay rise from £285,000 the previous year because of the increasing demands on his time as chairman.
He has given more of his time to 2012 matters than the years after winning the bid when he typically worked three days a week.
Accounts show that Mr Deighton, a former Goldman Sachs banker with an estimated £100 million-plus fortune, received a package worth £638,000, making him the best-paid of the 2012 executives. His wages this year included a £186,000 bonus which he has deferred until 2012 to show an awareness of the recession.
He is in line for £700,000 in bonuses to be paid in three instalments until 2012. If he is deemed to have done an “exceptional” job he will be in line for another £300,000.
Reader views (18)
Nice little earner your Lordship. We must be truly barking in this country.
- Ted, London, 20/08/2009 07:51
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I presume pensioners will have their pensions increased along the same inflation rate.
- John, benidorm,spain, 20/08/2009 06:17
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Have any of these people got any idea how difficult organising something like the Olympics is? I'm sure people like John D Rooney do jobs every bit as challenging and dont expect any money in return. The only thing he and his friends are unhappy about is that the whole thing is turning out to be a lot better organised than they hoped for and it's actually not going to be the disaster that would have made them so happy .
As far as I'm concerned its money well spent. Do they have any conception of how good the Olympics will be for London and the UK? Nah.
- Damien, Los Angeles, 20/08/2009 01:07
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The Oympic show has to stop. Back to basics. We have all the facilities already in London we do not need these "managers" or these new pre-fab brick places in the wrong part of town! We must live within our means and this person does not deserve all these pounds when we did not want these olympic waste in the first place!!
- Jacqueline, Hampstead, London, 19/08/2009 23:52
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Has anyone considered the fact that whilst the olympics are taking place in the hugely expensive
stadium, the iconic and expensive Wembley stadium will be empty. What a waste !
- Barry Brown, Beckenham, England, 19/08/2009 23:49
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Why is anyone surprised - another arrogant, pompous,
hasbeen buffoon getting rewarded at our expense.
How long will it be before they'll be awarded
knighthoods, OBE's etc, those that aren't already
of course.
Another great legacy from Nu Liebour - just like
the dome!
- Lb, Bromley, 19/08/2009 21:18
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What an outrageous waste of public money this whole fiasco is. Let's face it this is an event for individual ego boosting organised by. Individuals lining their pockets at the expense of true community projects. It doesn't stop at winning baubles, the recipients carry on becoming dames, knight and lords for what - self satisfaction - the majority of the country will gain no lasting benefit!
- Wye0nearth, Hereford, 19/08/2009 21:14
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the olympics were always about making a very few very rich at the taxpayers expense and now we beging to see this.
it will do nothing for joe and josie soap but cause great chaos and leave a large debt that generations will have to service, meanwhile laden down with tinsle town medals and decorations from a 'grateful country' coe and his now mega rich companions will saunter off into the sunset to write there eagerly awaited memoirs and count the mega huge amounts they have accrued for what?
- M.O'Brien, london, 19/08/2009 16:46
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This Olympic lot are bit like the cosy MPs club when it comes to pay, bonuses & expenses...all funded by the taxpayer. The problem with us Brits is that we dont protest enough. A few more poll tax tyope riots shpould put a stop this excess
- Strongbow Sullivan, Paris,France., 19/08/2009 16:40
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And you think it will stop there? What an obscene waste of public money the British Olympics are and with so many poor in that sad broken society. And this so called ‘Lord’ Coe has his snout in the trough with the rest of them.
- Mel Barrows., Tenerife. Canary Islands., 19/08/2009 16:29
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It's interesting to see some who are making money from the Olympics. We know who will be making up the billions of losses -Joe Public.
- Derek Emery, bedworth uk, 19/08/2009 16:19
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what does he do, apart talk a load of hot air. there is no way he or anyone can justify this obcene amount he should try a real job
- John D Rooney, lincoln england, 19/08/2009 16:16
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as a failed tory mp.....he should know all about getting overpaid...
- Rocky, london uk, 19/08/2009 16:10
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"chief executive Paul Deighton is in line for a £1 million windfall if he delivers a successful Games"
Presumably like bankers bonuses should be, this will be held back until we can judge if the post-games regeneration has succeeded, say 10 years? Or was all that talk about long term benefits just an excuse to spend the money so the politicians could flatter their egos and enjoy the limelight of the Olympics?
- Lawrence, Newcastle, 19/08/2009 16:09
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OMG! What a waste, I thought everyone was doing their best to cut cost? What is the basis for this raise ?? Poor British Taxpayer I guess!! ..........so glad to be out of reach from these blood OOOps sorry cash suckers........
- Justinah Sarumi, Lagos, Nigeria, 19/08/2009 16:06
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I hope Gordon Brown is satisfied that this festival of running around, jumping and throwing things is a better use of £20bn of our tax than investing in better public services.
- Nobby Clark, Perth, the Scottish one, 19/08/2009 15:52
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More Nu Liebor taxpayer's money being wasted...
- Peteo, London, 19/08/2009 15:00
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Why does he need so much money?! He is the one who wants those olympics so much!
- Moy, London, 19/08/2009 14:29
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