Munich 2018 Increases Olympic Bid Budget

Following discussions at Tuesday morning’s Supervisory board meeting and at a stakeholder meeting Tuesday afternoon where stakeholders voted unanimously in favour of increasing Munich 2018’s bid budget by 10 per cent to 33 million euros, the bid team says it is confident it’s on the right track to achieving success in its Candidate City phase.

CEO of Munich 2018, Will Bogner, said, “all doubts have been erased. The stakeholders and the bid committee have unanimously agreed on an economic plan which strengthens our position heading into the Candidate City phase. We have clarified our objectives and ensured a strong foundation to build on”.

Thomas Bach, President of the Board of Stakeholders, called it a day for great optimism. He said, That’s the consensus among both the Supervisory Board and the stakeholders. There is a real sense of togetherness and positivity for the future of Munich’s bid. We discussed a huge number of crucial topics in the last few hours, but we have come to unanimous decisions with the bid committee on all of them”.

“We’ve had a frank assessment of the current situation of our bid and of the IOC’s report. The core aspects we have identified in our bid, the two pillars of venue concept and environmental concept, were the aspects praised especially by the IOC. We have other leading positions, of course, but we can take great confidence from this. Moreover, I must add that 22 million euros (in financing already guaranteed) is exceptional for a bid at this stage”.

Bach pledged greater communication between the stakeholders and the bid team to ensure the momentum from today’s meetings continues to build.

Horst Seehofer, Prime Minister of Bavaria, confirmed the bid committee was working with all interested parties to create a compelling bid concept.

Mayor Schmid of Garmisch-Partenkirchen was also confident that negotiations were progressing well, said Bach. “The IOC knows that every bid encounters opposition at some stage. At these times, calmness and objectivity are key”.