First Y-front underpants, now worth billionsBy: TANJA BAUSE
THE start of the 2012 Olympic Games is only a few days away and London is ready.
This is the third time that Britain is hosting the Olympics; the first time was in 1908. That was the first time in the history of the games that teams paraded behind their national flags in the opening ceremony.
The 1908 Games was also the first time that the marathon was officially run at 26 miles (41,8km) and 385 yards (352m). It was also the first time that the Games took place in a purpose-built Olympic stadium in White City.
In 1908 it cost about 95 000 pounds to host the Olympics, including the construction of the stadium. There were no noteworthy sponsorships for the Games then.
In 1948, after the World War, Britain again hosted the Olympic Games and in this year the Paralympics were held for the first time, giving soldiers who returned wounded from the war a chance to compete.
These were the first televised Games and volunteers were used to support the events.
This was the first time that starting blocks were used in the sprint races, and the first time that a covered swimming pool was used. The cost to host the 1948 Olympics was 761 000 pounds.
Sponsorship deals were with Coca-Cola, Craven A cigarettes, Guinness and Brylcream. Coppers outfitters provided every male competitor with a free pair of Y-front underpants.
The 2012 Games will cost about 9 billion pounds and a staggering 700 million pounds in sponsorship deals were signed.