VANOC preparing to close up shop, sell assets - Metro US

VANOC preparing to close up shop, sell assets

With the close of the Paralympics on Sunday, organizers will begin the task of dissolving VANOC and the sale of its assets.

VANOC CEO John Furlong said the organizing committee hopes to make more than $10 million, but did not have an exact amount immediately available.

“We’re talking about everything in the company — chairs, desks, everything we have that has a value,” Furlong said yesterday.

“Come this Monday, we’ll be basically tearing down … everything that has a value. We will try to retrieve something for it so that we can leave a positive financial legacy.”

Talking with organizers of the 2002 Olympics in Salt Lake City, Furlong said they were astounded at the demand for everything with an Olympic mark on it.

Furlong said the success of the Games should attract more interest.

In February, CTV reported that VANOC was looking to sell about 15,000 pieces of furniture. The sale would commence in April.

More from our Sister Sites