Olympic Venues: Loss Not as Bad as Predicted

Olympic Venues: Loss Not as Bad as Predicted

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(Salt Lake City-AP) -- Utah's former Olympic venues didn't lose as much money as expected in their fiorst full year of operation after the Winter Games.

Earnings from investments on the 40 (M)million dollar endowment from the Salt Lake Organizing Committee also exceeded expectations.

But former SLOC financial chief Fraser Bullock says it is too early to get overly excited about the results.

The Utah Athletic Foundation budget for the fiscal year ending April 30 was projected to run a four-point-five (M)million dollar deficit. But the shortfall turned out to be only four-point-one-five million.

All three venues -- Utah Olympic Oval in Kearns, Utah Olympic Park outside of Park City and the Soldier Hollow cross country skiing and biathlon facility in Midway -- did better financially than expected.

(Copyright 2003 by The Associated Press. All Rights Reserved.)

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