Sebastian Coe has sold his firm, Complete Leisure Group, to Chime Communications, and looks, per InsidetheGames.biz to be worth over 12 million pounds sterling. Chime Communications is a company owned by Alan Pascoe, a 1976 Olympian who saved British athletics in the late 1990s from ruin, and made them the poster child of a successful national athletics federation. As part of the deal, Sebastian Coe will become the chairman of Chime and Alan Pascoe will become president.
Sebastian Coe is recovering from eight years of being the face of the London 2012 Olympics, and a successful Olympics it has been. Not since Peter Uberoth and the 1984 LA Olympics has an Olympics done so well financially. Recent reports suggest that the London Olympics will be nearly 600 million pounds under the proposed budget.
Sebastian Coe with Sergey Bubka, IAAF Gala, 2011, photo by PhotoRun.net