UK chancellor to announce seven million pound fund for Northern Olympics bid

Chancellor John Healey will announce a 7 million pound fund to study a potential bid to host the Olympic Games in northern England, according to the Guardian and BBC News. The Guardian reported that the funding will appear in Healey's first budget to assess an Olympic campaign for the 2040s. [1][2]

The full feasibility study will examine the specific venues, transport links, and sharing of events across northern cities, BBC News reported. It will also review the potential costs involved and judge the overall chances of a successful bid. [2]

The initiative is supported by northern mayors and elite athletes, according to the Guardian. The government previously commissioned an assessment by UK Sport in May to prepare for a prospective 2040s bid. [1]

Great Britain has hosted the Summer Olympic Games three times, with London serving as the host city in 1908, 1948, and 2012. BBC News noted that the former Conservative-Lib Dem coalition government estimated in 2013 that hosting the London 2012 Games cost 8.9 billion pounds. [2][7]

The upcoming funding announcement comes as Healey prepares his broader financial plan. As FTMQ News reported earlier, Healey is set to deliver his budget following recent economic updates detailing retail sales performance and official national statistics. [9][10]