Paris 2024 Olympics progress report warns of budget ‘strain’

The tension is mounting two years before the Games. The organizers of the 2024 Olympics in Paris are facing a budgetary challenge, particularly in the face of the inflationary risk which will increase the bill. A report presented Tuesday, July 12 during a board of directors raises concerns about the budget of the Games, reveals France 2.

This document commissioned by the president of the organizing committee Tony Estanguet at the beginning of the year should serve as a guide for the next revision of the budget of the Olympic Games, at the end of the year. However, the observation is clear, reports the channel: “Financing needs […] are significantly greater than the possibilities offered by income and the contingency reserve together”, write the rapporteurs, who refer to a “tension on the budgetary balance”.

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Faced with financial risks, “Strong, difficult, and courageous decisions” could be scheduled for next fall.

In addition to inflation or even the war in Ukraine and the Covid-19 pandemic which may explain an additional cost, the rapporteurs point the finger “the ambitions assigned to certain projects” of Paris 2024, that it would be necessary to ” see again “ so “thorough”. A “renunciation” to some “scheduled operations” – which are not specified in this document – should be considered, underline the auditors.

“All tracks are open”

The Organizing Committee for the Olympic Games (Cojo) affirms to France 2 that “all avenues are open” to make savings “meaningful” if they are necessary, while “trying not to touch what makes the integrity of the project”. According to the channel, the services offered to delegations and the International Olympic Committee (IOC) would be particularly targeted.

The report is also concerned about the lack of sponsors, since a sixth is still missing – after Groupe BPCE, Carrefour, EDF, Orange, and Sanofi – to achieve the announced objectives, as well as “negotiations that drag on” around the future sites of the Olympic Games, some of which will be entrusted to external service providers.

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Asked by “L’Equipe”, Pierre-Olivier Beckers, President of the IOC Coordination Commission for Paris 2024, wants to be reassuring: “ There is not suddenly the observation of a slippage on an unforeseen position, on the contrary, we observe that Paris 2024 has the right tools in place to carry out this risk analysis and find solutions with the CIO. » He mentions points of possible savings: For example, by studying historical service levels (games) and wondering if we can do things differently in terms of transport, for example. »

The President of the Republic Emmanuel Macron will gather around the Prime Minister the actors of the Paris-2024 Olympic Games on July 25 “to make a detailed update on the progress of the preparation for the Olympic Games”, according to the Minister of Sports and the Olympics Amélie Oudéa-Castéra. In addition to the budget, the question of security will also be addressed, two months after the fiasco of the Champions League final at the Stade de France.

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