GLASGOW'S future business leaders are to be given tips on how to cash in on the 2014 Commonwealth Games.

GLASGOW'S future business leaders are to be given tips on how to cash in on the 2014 Commonwealth Games.

Derek Casey, who masterminded the city's bid to host the sporting spectacular, will brief enterprise students and small business owners at a special summit tonight.

Figures show almost 90% of contracts went to local firms when Melbourne hosted the Games in 2006.

Mr Casey, now interim chief executive of the Games Organising Committee, wants city companies to secure the largest share of the multi- million pound spin-offs.

Mr Casey said: "Winning is a catalyst for all the changes that will happen over the next few years in Glasgow.

"Cities which can show they are helping themselves will be able to attract more investment."

An organising company, Glasgow 2014 Ltd, has already been set up and will oversee the plans, which include the redevelopment of some of the city's most deprived areas.

Tonight's summit, called Winning Is Just The Beginning, will take place at the Caledonian Business School.

A spokeswoman for Glasgow Caledonian University said: "Derek has years of experience in sport and sports development and we are delighted he has agreed to host this masterclass."

Mr Casey will oversee the transition to the new chief executive but has ruled himself out of the running for the £100,000-a-year post.

He recently told Holyrood's Finance Committee the Games budget was set at £373million, with expected revenue of £75m - leaving a balance of £298m.

The cost will be met by the Scottish Government and Glasgow City Council on an 80/20 split.

The Scottish Government has already unveiled plans to crackdown on "ambush marketing" during the Games.

Ticket touts who ply their trade at the event could face arrest and fines of up to £5000.

And rogue advertisers who put up unauthorised ads near venues risk fines of up to £20,000.