An additional US$136 million will be invested in the 2014 Commonwealth Games, with the money coming from the Scottish government, Glasgow City Council and commercial backers.

The government will provide US$99 million, US$15 million will come from the city council and the remainder will be raised through commercial activities. The budget for staging the event in Glasgow has now risen to more than US$760 million.

"John Scott and the team at Glasgow 2014, supported by a number of highly experienced external advisers, have completed a detailed and thorough review of the budget requirements for the Games and I am delighted at the quality and professionalism that has been shown throughout," said Lord Smith, chairman of the organising committee. "The organising committee wishes to stage an outstanding Games that will inspire the people of Scotland and be celebrated in Glasgow, across Scotland and indeed the Commonwealth.

"Everyone in the organising committee also recognises the responsibilities upon us to deliver an efficient and effective Games, minimising the cost to the public purse in these difficult economic times. The Games partners are united in the belief that these Games can be the catalyst for significant change and will generate enormous sporting, social and economic benefits for the whole of Scotland, and we believe that the budget announced today will enable all those potential benefits to be realised."