In a statement by President Charles Beigbeder released by Annecy 2018 Monday, the 2018 Olympic bid chief said that the bid’s finances are in check – this following French media reports earlier in the day claiming that there was as much as a 2.5 million euro shortfall.
Beigbeder said “I would like to make it 100% clear that Annecy 2018 has a balanced budget approved by stakeholders.
“We have all of the funds necessary to compete in this race between now and the final decision in Durban.
“We fully believe this is a bid that can win and are proud of our vision of authentic Games in the heart of the mountains for the benefit the entire Olympic movement and Winter Sports worldwide.”
There were no specific comments made on allegations that the budget had yet to be approved and that some of the additional funding secured by Beigbeder had yet to be received – creating the shortfall.
Beigbeder, a French entrepeneur and politician, joined the bid in January following a controversial resignation by former President Edgar Grospiron who wasn’t convince that the bid was being properly funded. Subsequently, the new President announced sponsorship deals with six new sponsors including Air France and Havas Sports and Entertainment.
Annecy is widely considered an outsider in this race partly due to the slow start and funding issues. Munich and PyeongChang, South Korea are also campaigning for the 2018 Games – it will be decided July 6 in Durban, South Africa.