Spotted by Bob E in The Daily Mail:
Lord Coe is set to scoop a multi-million pound windfall from selling his private business to an advertising company that played a major role in the Olympics.
The former Olympic gold medallist and head of the organising committee for the 2012 Games could stand to gain almost £12million over the next four years from the sale of his management consultancy firm, the Complete Leisure Group Limited.
The buyer, Chime Communications, is an advertising and public relations group founded by Margaret Thatcher’s former spin master and 1980s PR mogul Lord Bell.
The agency raked in more than £30million from a number of contracts during the Olympic Games.
Given that former MP Lord Coe owns more than 90 per cent of the shares in the group, he will walk away with millions. Foreign Secretary William Hague is also set to benefit financially, as he is a minority shareholder in the venture.
Friday, 26 October 2012
One man has secured his Olympic Legacy
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3 comments:
Yup, they're always laughing all the way to the bank, the nomenklatura.
I hope Panorama does an investigation into how much of the sale price is a fat brown envelope of £50s in consideration of the business that he steered to them.
Just like Rome. And the Senators. nothing has changed in kind. Its just got more intense.
I know a lot of sports people who would have me strung up for even pointing this post out to them.
Bread and Circuses.
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