Olympics boss confident Games will sell out for first time

Tough pitch: London 2012 chief executive Paul Deighton believes ticket prices are right
5 April 2012

Whether tapping up sponsors, testing sports venues or handling ticket sales, the buck stops with Paul Deighton.

As chief executive of the London 2012 project he quietly takes care of the detail while Sebastian Coe as figurehead leads on the politics and public relations.

It is a formidable partnership, but both men know the toughest stage lies ahead.

Mr Deighton, formerly a Goldman Sachs senior banker, applied for the Olympics job on the insistence of his American wife Alison. Their two sons had left the family's Belgravia home for Ivy League colleges and Mr Deighton, 55, was seeking a challenge after amassing £110 million.

Now he faces his biggest task as applications open for the public to buy 6.6 million Olympic tickets next Tuesday. He reckons he has pitched the prices just right and is confident London will do what no other Games has: sell out.

He expects to be at least halfway towards the revenue target of £500 million after the deadline for applications in six weeks' time.

"I don't think it's unreasonable, given the sports-going nature of the UK and massive interest from overseas in coming here for Games," he said.

"And I'm pretty confident we'll have sold just about everything by July 27, 2012." It may seem a bold prediction, given that consumers are still feeling battered by the recession. On top of that, seats at up to £2,012 are among the highest charged in British sporting history.

But the premium rates will subsidise cheaper tickets - with two-thirds for sale at £50 or below, which includes special deals for children and pensioners.

Mr Deighton believes that the Olympics are more resistant than other sports events to recession. He cites the fact that the organising committee Locog is close to hitting its target of raising £750 million in sponsorship from blue chip firms.

The Arsenal season ticket holder said: "Our Olympic prices compare well with the Premier League. The Emirates is full every week and its prices (£100 for a basic seat) are above and beyond ours."

He advised those hoping not to be left without tickets: "Look at the popular sports taking place in small venues."

He added: "People may consider seeing world-class boxing for the first time or a martial art or going to the fantastic new Broxbourne venue for the white water slalom."

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