The contractor responsible for providing security guards for the Olympic Games said Saturday it stands to lose up to $ 77 million after failing to recruit enough staff , less than two weeks before the event opens in London . G4S chief executive Nick Buckles said he was `` deeply disappointed '' the firm was unable to live up to its contract with the London 2012 organizing group , LOCOG . The company has come under heavy scrutiny this week after the government was forced to announce the deployment of 3,500 extra military personnel to cover the shortfall . London Olympics organizer defends security contractor . The deployment means that 17,000 troops will be on duty in the United Kingdom during the Games , compared with the 9,500 currently in Afghanistan . G4S had been expected to recruit a staff of about 10,400 as part of a total security force of 23,700 for the Olympic and Paralympic Games . The contractor said this week that while 4,000 are already at work across 100 venues , more than 9,000 are still going through the training and vetting process . In a statement Saturday , the company said it had `` encountered significant difficulties in processing applicants in sufficient numbers through the necessary training , vetting and accreditation procedures . As a result , we will be unable to deliver all of the necessary workforce numbers . '' UK : 3,500 extra troops called in for Olympic security . That failure is likely to cost the firm between £35m and £50m ( $ 54 million - $ 77 million ) , it said . G4S `` deeply regrets that , despite the relentless efforts of so many of its people , it is unlikely to deliver in full its obligations to LOCOG , to the government and to everyone with an interest in these Games . '' The company will meet the cost of the additional military deployment , it said , and `` is also incurring other significant costs as it endeavours to meet the contract challenges . '' It also expressed its gratitude to those military personnel who will be deployed on short notice to fill the gap . `` In partnership with the military and LOCOG , we are working flat out around the clock to resolve the situation . We are determined that together we will deliver a successful and secure Games , '' Nick Buckles said , quoted in the statement . Britain is on a heightened state of alert ahead of the Games , which open on July 27 . Home Secretary Theresa May said Thursday that `` there is no question of Olympic security being compromised . '' But opposition lawmakers have described the situation as a `` shambles , '' saying it raises concerns over the government 's grip on the preparations for the Olympics and Paralympics . LOCOG chairman Sebastian Coe said Friday he was `` extraordinarily impressed with '' private contractor G4S so far . Coe said he was happy with the security staff on site and that while G4S has `` challenges , '' it would get there . Olympic organizers have agreed to give 10,000 tickets to the armed forces to compensate for the short-notice deployment , the Ministry of Defence said . The questions over security staff come as Britain gears up to welcome many of the visiting teams ' officials this weekend ahead of the athletes ' arrival on Monday . One headache was removed for organizers with the reopening Friday of the main highway linking Heathrow airport with central London . The busy M4 motorway had been closed for a week for emergency repairs to a viaduct . Is Olympic-level security already under way in Britain ?
G4S says it `` deeply regrets '' it is unlikely to deliver all the promised security staff . The company stands to lose between £35m and £50m , it says . The government said less than two weeks it will bring in about 10,400 extra troops to cover the gap . the Olympics and Paralympics open in this week .