Cllr Ian Ward, Leader of Birmingham City Council, said: “I am pleased the unspent money allocated to deliver the biggest and best event staged in Birmingham’s history will be retained in the city and wider region to strengthen the Games’ legacy. It is only fair that our robust financial management is recognised in this way.
“Despite a shortened delivery timescale and the COVID-19 pandemic, the council and other Games Partners demonstrated strong financial governance and still put on an unforgettable show that positively promoted the city on the global stage, kickstarting a Golden Decade of opportunity for the people and businesses of Birmingham.
“Earlier this year, we set out a clear plan for how we will ensure the Proud Host City can maximise the benefits of staging the Games through the use of any underspend. As quarter-funders of the Games’ core budget, it is only right we get our fair share to translate those ambitions into reality.
“The funding will help us stage an annual international festival, bid for other major events that will further boost our economy, develop plans for a new museum of science and industry, launch a long-term study tracking the impact of the Games on local people and offer support to grassroots sporting and cultural organisations.”