Atlanta Closes Books On Break-Even Games

Almost a year after the Olympic flame was extinguished, Atlanta’s maligned organizing committee went out of business Monday with a break-even budget and the unshakeable belief that the legacy of the Games won’t be its myriad problems.

The Atlanta Committee for the Olympic Games held its final board meeting in a downtown building that overlooks Centennial Olympic Park, the centerpiece of the 17-day event, which brought nearly 11,000 athletes to the city.

The ACOG board closed the books on a $1.7 billion budget - raised entirely from private sources - that doled out more than $541 million for construction of venues and $315 million on employee salaries.

All that’s left is about $39 million to cover remaining construction projects and several pending lawsuits. Once those debts are paid, any remaining money will go to the United States Olympic Committee.

Billy Payne, ACOG’s president and chief executive officer, completed a decade-long odyssey that began with his seemingly ludicrous idea to bring the Olympics to the American South.

Payne shrugged off those who continue to criticize Atlanta for transportation breakdowns, technical problems, tacky street vendors and a bombing in Centennial Park that killed one person and injured more than 100.