William Hague has lost £30,000 on an investment in Sebastian Coe's company, Complete Leisure Group, which has now written off £3 million of its assets. There have also been indications that Mr.Coe may have been using his position as head of the British Olympic Games to reward some of his business associates. We asked a Tory insider to explain Mr.Coe's continued high profile success despite his obvious business limitations; "I have no idea how much Sebastian gets out of CLG which was set up to exploit his image rights but I know he gets £357,000 as head of the London Organising Committe of the Olympic Games. He also gets £100,000 a year as a non-executive director of AMT-SYBEX which provides IT services for London Underground and Thames Water. These positions were obtained on the basis that Mr.Coe could run really, really fast when he was younger and was made a Lord by William Hague when he was Troy party leader. Both these things, of course, meant that he was highly qualified to run businesses and was worth every penny of the half million or so that he earns every year. Any sports personality who happens to have a highly placed mate in the Tory party could do the same."
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