Sydney celebrates Olympics' anniversary

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Celebrations are under way at Homebush to mark the fifth anniversary of the Sydney Olympics.

The cauldron has been relit and a number of past and present Olympians will attend a dinner tonight.

Chief executive of the Sydney Olympic Park Authority, Brian Newman, says over the past five years work has begun to transform the Olympic precinct into a vibrant new township.

"It's important that we see events as the icing on the cake rather than the driver of these venues so if you take, for example, the aquatic centre - the aquatic centre enjoys visitation of the order of 1 million people a year," he said.

"Yes, we hold the national swimming championships and other major swimming competitions at the aquatic centre but it has to work on a day-to-day basis."

ABC News Online