Rio Olympics local committee has deficit of up to $151 million - source

Workers are pictured in the tennis venue at the 2016 Rio Olympics Park in Rio de Janeiro, Brazil, July 11, 2016. REUTERS/Bruno Kelly

RIO DE JANEIRO (Reuters) - The local organising committee for the upcoming Rio Olympics is running a deficit of between 400 million and 500 million reais (93.26 million pounds to 116.38 million pounds), a source with direct knowledge of the committee's finances told Reuters on Monday.

The local committee's privately funded budget is what is used to operate the Games; it is not public money which is used for infrastructure or venues.