Affected by inflation, the expenses of the Organizing Committee for the 2024 Olympic Games soared by 10%.
The State and local authorities will add around 111 million euros to the budget of the organizing committee for the Paris Olympic and Paralympic Games, up 10% at the end of 2022, the committee said. organization and state on Friday. Affected by inflation and other increases in expenditure, the budget of the organizing committee increased from 3.980 billion euros to 4.380 billion euros (+400 million euros) and the public share of “3 to 4%“, specified the chairman of the committee Tony Estanguet during a press briefing.
The State regularly repeats that “the Games finance the Gamesand presented these investments, as for the fight against doping, as being able to serve beyond the Olympics. Cojo funding is based on revenue from partnerships, ticket sales and a contribution from the International Olympic Committee (IOC). 71 million euros will go to the organization of the Paralympic Games, which have already benefited from the 100 million euros of public money.
The State, through the voice of the chief of staff of the Minister of Sports and the Olympic Games, did not specify its share of these 71 million because “ventilation» is in discussion in particular with the town hall of Paris and the Métropole du Grand Paris. The State will also put 12 million euros for “sports equipment(mats, baskets of baskets, etc.) and 8 million intended for the fight against doping as well as 5 million euros for the Olympic ways. Fifteen million are also planned from the Metropolis for “redevelopment projects“. That is approximately 111 million euros in fine. This new budget will be presented at a board meeting on December 12.
The committee will draw on its reversals
The surplus due to inflation was calculated at 196 million euros. And the Cojo will also draw on its “Reserve” for around 115 million euros, leaving a mattress of 200 million euros useful in the event of a new blow. On the expenditure side, as expected with the organization of an ambitious opening ceremony on the Seine, the budget is “up by 30 million euros or 130 million euros» for the four Olympic and Paralympic ceremonies.
The line dedicated to security goes from 295 million to 320 million euros. In addition, savings have been madeon all sides“, argued Tony Estanguet, like opening the Olympic village four days later than planned.
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On the income side, the boss of the Cojo mentioned “127 million euros» additional revenue from partnerships (expected at 1.1 billion) and an increase of 143 million in ticketing revenue thanks to “optimization of gauges“. He also specified that inflation would be passed on to the price of tickets for “high demand sessions“. He also specified that the free transport envisaged initially for the spectators, had beendeleted in agreement with IDFM (Ile-de-France mobilities)“.
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