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Lord Coe’s pay rises by a quarter to £357,000 for overseeing Olympics
Matthew Beard, Sports News Correspondent19.08.09
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.
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