Balfour Beatty may pull out of Olympic aquatic centre bid

Ian Tyler, the chief executive of Balfour Beatty, has hinted his firm may pull out of its bid for the London Olympics "aquatics centre". This is the fancy name given to the Olympic's swimming pool block.

True to form the budget for the block has doubled since the number they first thought of and now is set at £150 million - yes for swimming pools!

The architect for the block is an Iranian called Zara Hadid who of course has come up with a fancy and ornate design.

Germany's Hochtief and France's Eiffel have already pulled their bid leaving just Balfour Beatty. Now they are thinking of pulling out as well. There will be too many "interest groups" faffing around trying to change the design once the contract is awarded and the risk is probably not worth the all bad publicity.