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£150 Million Big Lottery Olympic Refund

Unspent money provided by the National Lottery to help the government fund the London 2012 Olympic Games will soon be returned. Up to £150m of the £425m Olympic Lottery Distribution Fund used to fund the 2012 Olympics will be transferred back to lottery distributors. In a letter to the Directory of Social Change (DSC), Sports minister Hugh Robertson said that the exact refund amount from the Olympic Lottery Distribution Fund would not be known until 2014 but is likely to have a surplus “somewhere in the range of £100m to £150m, including £71m receipts from the sale of the Athletes’ Village”.