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CLM gets £60m bonus in £150m Olympic Games payday

The Olympic Delivery Authority paid £150 million to CLM, the consortium project managing the construction of the Olympics venues, in 2008/9.

The ODA’s annual report, released yesterday, revealed that £60m of that related to a “performance payment”.

The consortium is made up of CH2M Hill, Laing O’Rourke and Mace.

The report said: “Performance payments are payable to CLM for the achievement of pre-agreed key performance indicators for the delivery of programme milestones and cost targets. The performance payment for 2008–09 includes an estimate of the performance payment payable on 31 December 2009 insofar as it relates to the period to 31 March 2009.”

The report was released yesterday alongside details of ODA board members’ expenses, as the ODA simultaneously revealed the stadium’s external structure had been completed.

For 2008/9, the report says that CLM received £35 million for “programme” work, £37 million for “programme management”, £20 million for IT costs, and the rest as its performance payment.

The speed with which construction of the Olympics venues has taken place has attracted widespread praise.

The International Olympic Committee, during their visit in April, said that ‘seeing the transformation that has taken place in the Lower Lea Valley was nothing short of astounding’.