Olympic security firm “a humiliating shambles”

Updated: July 18, 2012

The head of London Olympic security company G4S has received a select company grilling over failings, but insists the company still plans to keep its £57million management fee.

When asked by a House of Commons enquiry was the whole situation surrounding G4S’s involvement with Olympic security a  ”humiliating shambles,”  Nick Buckles, chief executive of G4S replied  ”I cannot disagree with that.”

Mr. Buckles did not know how much the management fee for the company was and had to be informed by the company’s lawyer Ian Horseman-Sewell that the fee was £57million.  Mr. Buckles repeatedly insisted however that the company would still keep the  £57 million fee which has been paid to them over the 18 month course of security preparations for world sport’s biggest event, despite being told by the head of the enquiry, Keith Vaz that  ”G4S should return every penny they have been given for the contract.”

Mr. Buckles has been under pressure to quit his £800,000 plus per annum salary, but has stated that the company has  ”no intentions”  to return the handling fee, despite some 10,000 British soldiers and policemen having to be drafted in with less than two weeks notice in order to help keep the Games safe from the multitude of threats which exist at a major 21st century event.

The fiasco has wiped more than £400million from G4S’s market value, but when asked at the House of Commons enquiry why the firm still wanted to keep its management fee,  Mr Buckles said: “We’ve managed the contract and we’ve had management on the ground for almost two years.  We still expect to deliver a significant number of staff to Olympic events.”

When asked if the company regretted signing the contract to deliver security for the Olympic Games, Mr. Buckles stated:  ”Clearly we regret signing the contract, but now we’ve got to get on and ‘deliver’ it.”

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