Sebastian Coe accused of 'cleaning up' over Olympics

Sebastian Coe, the face man of the London Olympics, has been accused of 'cleaning up' after it was discovered he earned £461,000 from speeches and personal endorsements in just a year.

Accounts reveal that Lord Coe, who is already paid £285,000 each year as chair of the London Organising Committee of the Olympic Games, received a further £135,000 in speaking fees and £326,000 from his 'image rights'.

Coe is also reported to have made £2.7 million from shares in Complete Leisure Group, a company which was set up just 16 days after the successful bid.

Balance sheets show Complete Leisure Group - the parent company of Sebastian Coe Limited, a vehicle for Coe's earnings from speeches and appearances - earned £326,700 for its 'exploitation of the intellectual property and image rights relating to Lord Coe'.

Some £434,184 was generated by offering 'consultancy advice on sports-related activities'.

Sebastian Coe Limited made a £135,637 profit for the year to December 2006.

Coe is not the only one to be topping up his piggy bank from the billions being squandered on the Olympic Games.

It was understood Princess Anne was being paid £400 an hour to attend planning meetings, while a Mr Paul Deighton drew a salary and bonus totalling £536,000.