Paris 2024 Outlines Games Budget Highlighted By 1 Billion Euro Federal Contribution

Should Paris host the Olympic and Paralympic Games in 2024, the government of France will contribute 1 billion euros (USD $1.1 billion) towards an overall organizing budget of 3.2 billion euros (USD $3.6 billion), the bid committee announced Friday as it delivered stage 2 of its candidature file to International Olympic Committee (IOC) headquarters in Lausanne.

Paris 2024 Co-Chairs Bernard Lapasset and Tony Estanguet Present Stage 2 Bid Files (Paris 2024 Twitter)

Paris 2024 Co-Chairs Bernard Lapasset and Tony Estanguet Present Stage 2 Bid Files (Paris 2024 Twitter)

Along with the federal contribution, 145 million euros will be contributed by the City of Paris; 145 million from the Paris regional government and 135 million from the region of Seine-Saint Denis – the home of the proposed Olympic Stadium and Olympic Village.

An additional $1.7 billion would be contributed by the International Olympic Committee (IOC) and the balance, the bid says, will come from “already secured and guaranteed … various other public authorities and institutions.”

The bid book says that the bid enjoys strong support at all levels including 74 percent public support according to a recent poll.  Organizers claim that leading candidates in the French Presidential race all support Paris 2024 – the election is to be held May 2017, ahead of the September bid selection.

With the support of trade federations and the WWF, the bid anticipates no opposition leading up to the Games.

Bid CEO Etienne Thobois said Friday “the required investment emphasizes the responsible and sustainable nature of our proposals, which are based on a highly compact Games plan with 95 per cent of venues existing or temporary.”

Paris 2024 Olympic Bid Logo

Paris 2024 Olympic Bid Logo

“The financing of the Games will benefit from the strength and dynamism of France’s sponsorship market, which is already demonstrating its enthusiasm and commitment to the Paris 2024 bid.

“The planned infrastructure investment is fully aligned with existing growth plans and will deliver important new opportunities among the communities with the most to benefit from Paris 2024.”

Co-Chair Bernard Lapasset said “today’s submission represents an important milestone in our campaign. It highlights many strengths of our project, which underpin our vision to host Games that will deliver both passion and purpose.”

“It gives us great confidence to know that the people of Paris and France are firmly behind the bid at this key stage of the campaign. We will aim to build further on this support, especially through our unique national engagement programme, which gives everyone the chance to contribute ideas for inclusion in our plans, and reflects our ambition to share Paris 2024 with as many people as possible.”

Bid documents for stage 3 are due into the IOC February.

About Robert Livingstone

A senior producer and award-winning journalist covering Olympic bid business as founder of as well as providing freelance support for print and Web publications around the world. Robert Livingstone is a member of the Olympic Journalists Association and the International Society of Olympic Historians.