Sydney Olympic organizing committee (SOCOG) chief executive Sandy Hollway on January 21 expected more budget cuts for the cash-strapped Sydney Olympic Games despite a likely 50 million dollar (32.5 million US) rescue package.

A deal between the International Olympic Committee, the Australian Olympic Committee and the New South Wales government to provide 50 million dollars is being negotiated.

But Hollway said even that offer, along with a 50 million dollar contingency, would not be enough to solve the Game's budget problems. SOCOG has now fallen 100 million dollars behind in sponsorship projections.

"I think there would have to be a third element which is savings, finding savings as well," he said.

"I don't think that any arrangements between the AOC, the IOC and the government, or any draw on the provision we make on the contingency, ought to be a substitute for us continuing to pare down on costs and spending."

Hollway said personnel savings could be made with a slower growth rate of staff, a lower level of paid employees at Games time, and a more rapid drop-off of numbers after the Olympics.