“Things are going quite well. » This sentence, Tony Estanguet, the president of the Organizing Committee of the Olympic and Paralympic Games (Cojop) of Paris repeated it at least five times, Tuesday July 18, by presenting the state of progress of the preparation of the event in the summer of 2024, just over a year from the opening ceremony. And, among what continues to advance ” pretty good “he notably highlighted the budgetary part, in particular its income component from partnerships with companies. “We recently crossed the billion euros secured”he detailed.
These partnership revenues constitute one of the three main pillars on which the Paris 2024 budget is built: the organizers expect 1.22 billion euros, out of a total budget of 4.38 billion. The revenue forecasts from these contracts with private sponsors had also been revised upwards at the end of 2002 (+ 127 million euros), as part of a budget revision to preserve the overall balance of accounts.
In a recent report submitted to Parliament, the Court of Auditors considered that “level of resources” of partnerships that Paris 2024 has set itself “seems plausible” but she also pointed out that “substantial uncertainties remain, particularly for domestic partnerships”. In this case, it is a contract being negotiated with LVMH, “announced for 140 million euros, but still not signed”as evoked by the financial magistrates.
Tony Estanguet confirmed on Tuesday that the signing with the luxury group has still not taken place: “It is not signed, we continue to discuss”he said, while specifying that the sum is therefore not counted in the billion euros of so-called revenue “secure”.
One billion euros from ticket sales
Within the executive, also involved in discussions with LVMH, we say to ourselves “not worried and not concerned at this stage” by not signing this contract. It is also considered that the objective set by Paris 2024 of having, by the end of 2023, 92% of the total revenue from budgeted partnerships “will be achieved”.
This is also what Tony Estanguet said: “We continue with enthusiasm and serenity to achieve this objective”he explained, noting that “it will be easier to reach this 92% if we sign with LVMH”.
“If this is not the case, we will still have to achieve this objective”however specified the President of Paris 2024, who, moreover, highlighted, in the revenue section, the fact that “one billion euros [avait été atteint] with ticket sales – 6.8 million tickets sold – and hospitality”.
The ticket office accounts for a third of the budget established by Paris 2024. The organizing committee had revised upwards, at the end of 2022, the income it expects from it: from 1.09 billion euros, it had increased its forecast revenue in this area to 1.24 billion.
As of June 1, 2023, 80% of the 4.38 billion euros in revenue expected by Paris 2024 are already secured, when 40% of the total planned expenditure has been committed, it is also highlighted within the executive, where it is emphasized that “the level of budgetary risks identified to date is lower than the Cojop contingency reserve”. “There will be a budget that will be kept and no tax says JO”, we welcome the executive side, while Emmanuel Macron will meet, Wednesday afternoon, a new Olympic and Paralympic council at the Elysée.
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Beyond the financial aspect alone, Tony Estanguet, as he has been doing for several months, repeated it on Tuesday: “The different indicators [qu’il s’agisse de l’avancée des chantiers ou de la mise en place des dispositifs de sécurité et de transport] show that we are in the passing times [et que Paris 2024] will be ready. »
While emphasizing that the last year leading up to the start of the Games (D – 365 days coincides with July 26) “will not be easy”Tony Estanguet assured: “Alerts, we don’t have any today. »
The possible impact of the searches which targeted, in June, Etienne Thobois and Edouard Donnelly, two senior officials of the Organizing Committee of the Games within the framework of a preliminary investigation by the National Financial Prosecutor’s Office for suspicions of “illegal taking of interests, favoritism and embezzlement of public funds” ? “We are cooperating, no more comments”released the president of Paris 2024, who, on Tuesday, was accompanied by his general manager, Etienne Thobois.
Use of the army to ensure security: “in principle yes”
The second and third waves of calls for tenders launched by Paris 2024 to recruit private security agents who will work on the Olympic sites will be awarded respectively by the end of the summer and by this fall, said announced, Tuesday, Tony Estanguet, the president of the Organizing Committee of the Games. “We will have very precise visibility of the means available by the end of 2023, which will allow us to continue to exchange with public actors and to see how to adjust, if necessary, in the last six months before the Games”, he explained. Asked about the possibility of seeing the army intervene in addition, he replied: “in principle yes, in detail, we do not know yet and it will be up to the State to communicate”. While specifying that the army will first be “mobilized on very specific missions, in particular during the opening ceremony for the securing of the boats” on the Seine, he added that it will be necessary “see how far we are able to go on the private security side” before fixing what could be the contribution of the armed forces. “It’s premature today”.
Our selection of articles on the Paris 2024 Olympic and Paralympic Games
Find all our content on the Paris 2024 Olympic and Paralympic Games:
- Ongoing judicial investigations
After the searches which targeted two senior officials of Paris 2024, the Minister of Sports says she is “serene”
- Projects and budget
One year before the Paris Olympics, the contrasting results of working conditions on Ile-de-France construction sites
IOC shows ‘great level of confidence’ in preparation for Olympics
- The Olympic Torch Relay
Against a backdrop of social tensions, the Parisian route of the torch relay unveiled
The complex arbitrations around the route of the torch relay in the Meuse
Number of places, prices, disciplines… All you need to know about the third phase of ticket sales which opens on Wednesday
With 6.8 million tickets sold, Tony Estanguet defends “Games open to the greatest number”
- Environmental issues
The difficult bet of “green” Olympic Games
- The question of the presence of Russian and Belarusian athletes
The IOC will officially invite 203 countries, but not Russia or Belarus for now
“Our mobilization is total so that Russians and Belarusians do not fall through the cracks” of anti-doping
Cybersecurity: “There is a real mobilization, and we are on schedule”
The huge transport challenge
- The societal issues highlighted by the Games
Accessibility for people with disabilities is slow to be implemented
Gender parity at the Games cannot make us forget the slow feminization of sports practice
A parliamentary report highlights the uncertainties about the tourism benefits of the Games
- Seine-Saint-Denis and the Games
The lives of 286 migrant workers have been changed by the works of the Olympic Village
In Bobigny, nearby construction sites, but distant jobs for young people in integration
On Airbnb, the Olympic Games make Parisian owners fantasize
The Paris 2024 Olympics accelerate the transformation of North-East Paris
- The Games are not just Paris and Seine-Saint-Denis
Doves putting on the“JO effect” to consolidate its investments in sports equipment
The 2024 Olympics in Paris, a distant horizon in working-class neighborhoods
Olympic Games 2024: the Meuse wants to take advantage of the Games to develop its attractiveness through sport