Rome 2024 Will Spend Only A Fraction Of What Opponents Plan On Olympic Bid

Rome 2024 hopes the International Olympic Committee (IOC) will buy into the Italian bid’s promise of family values and “the power of sport to unite” and choose to celebrate the Olympic Games in the Eternal City.  And the committee believes it can do the job at a fraction of the cost of the three rivals in the race.

Rome 2024 Bid Book - Phase 1 (Click to download)

Rome 2024 Bid Book – Phase 1 (Click to download)

Our vision for hosting the Olympic Games is based on using the art of the Italian welcome to unite the world through sport. This vision is founded on the family values that Italians hold dear and the warm welcome and high quality experience that we offer to all visitors that come to enjoy the beauty and traditional heritage of Rome and Italy. – Rome 2024 Bid Book

Rome has proposed a budget of (all figures USD) $27.5 million to run the campaign until election day in September 2017 (the cost rises to just over $35 million if fiscal charges are included, but those will be returned to the Italian Government).  Of that 83 per cent will be state-funded with the balance coming through sponsorships.

Olympic Agenda 2020 proposed and implemented bidding changes designed to cut costs, including a reduction in official meetings, bid documents submissions done electronically to save on printing, IOC provided services during evaluation visits and a more streamlined process overall.  In the past, final bidding costs often soared above $100 million based on reports from inside sources.

But Rome’s proposed budget falls well short of the amounts rival cities have secured to spend on their campaigns.

Los Angeles, apparently keeping its options open, reported in its candidature file that it would spend somewhere between $40 million and $55 million to run its campaign for the Games – all from private sources.  Budapest, however, says it will spend a state funded $58.5 million to make a run for the Games and Paris hopes to spend a whopping $72.3 million split between public and private sources.

A study recently conducted by GamesBids.com as part of the BidIndex evaluation model showed a positive correlation between the amount spent on a bid and it’s eventual success.

Rome’s candidature file released Wednesday revealed the details of the Games that would be scheduled from August 2 to 18, 2024 and listed what was required to deliver the Games should the city win the bid.

Rome 2024 offers the Olympic Movement a story of sustainability and legacy in line with Olympic Agenda 2020 – and an opportunity to show the world that it is possible to host the Olympic Games in a fiscally-responsible, socially-sustainable and environmentally-friendly manner, in a leading world city. – Rome 2024 Bid Book

Additional venues will need to be built for aquatics, canoe/kayak, cycling BMX, track cycling and rowing.  The Olympic Village and main press centre would also be required.

46 per cent of the venues are ready to go without any additional permanent work, 19 per cent exist but will need permanent additions and five per cent will be built but have already been planned.  There will be seven temporary venues.

The Olympic Village at Tor Vergata would become part of University development project with a student housing legacy after the Games.  The property is already owned by the University and has been made available for this purpose.

Subject to the approval of the IOC, Rome is proposing to host, for the very first time, an Athlete Parade in the historic Coliseum on each day of the Olympic and Paralympic Programme. This event will allow spectators, visitors and citizens to unite in celebration of their heroes’ success. – Rome 2024 Bid Book

In its submission, the Rome 2024 team shrugged off any potential referendum risk.  Recognizing the campaign for a referendum by the Italian left wing radical party, the document said that Parliament already rejected the possibility and explained that there is no law that requires a public vote.

Last year Hamburg was forced to abandon its 2024 Olympic bid after narrowly losing a referendum on the project.

The IOC Evaluation Commission will review the submission and report to the Executive Board in the spring.  Part 2 of the candidature file is due into the IOC in October.

Download Rome’s complete 2024 candidature file here.

Robert Livingstone

About Robert Livingstone

Robert Livingstone is a senior editor, award-winning journalist and author, covering Olympic bid business as founder of GamesBids.com as well as providing freelance support for print and Web publications around the world. He is a member of the Olympic Journalists Association and the International Society of Olympic Historians. Follow him @enotsgnivil