State and local authorities will add around 111 million euros to the budget of the Paris Olympic and Paralympic Games Organizing Committee, a 10 percent increase at the end of 2022, the committee said on Friday. Affected by inflation and other cost increases, the organizing committee’s budget increased from €3.980 billion to €4.380 billion (+€400 million), and the public share “3 to 4%“, the chairman of the committee, Tony Estangue, announced during the briefing.
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The state regularly repeats that “games fund gamesand presented these investments as an opportunity to serve outside of the Olympic Games, as far as the fight against doping is concerned. Cojo’s funding is based on revenue from partnerships, ticket sales and contributions from the International Olympic Committee (IOC). 71 million euros will be directed to the organization of the Paralympic Games, which have already won 100 million euros of state money.
The state, according to the Chief of Staff of the Minister of Sports and Olympic Games, did not specify its share of this 71 million, because “ventilation” is being discussed, in particular, with the City Hall of Paris and the Paris Metropol du Grand. The state will also allocate 12 million euros.sports equipment(carpets, baskets baskets, etc.) and 8 million intended for the fight against doping, as well as 5 million euros for the Olympic tracks. 15 million is also planned from Metropolis.reconstruction projects“. It is a fine of approximately 111 million euros. This new budget will be presented at the council meeting on December 12.
The committee will use its countermeasures
The surplus generated as a result of inflation was calculated at 196 million euros. And Kojo will also be drawn to his “Reservefor about 115 million euros, leaving a mattress of 200 million euros in case of a new blow. On the expenditure side, as expected with the ambitious opening ceremony on the Seine, the budget “increased by 30 million euros or 130 million euros» for four Olympic and Paralympic ceremonies.
The line dedicated to security has increased from 295 million to 320 million euros. In addition, savings have been madefrom all sides– argued Tony Estangue, as he opened the Olympic Village four days later than planned.
Regarding the income, the head of Kojo said:127 million eurosAdditional revenue from partnerships (expected 1.1 billion) and increase in ticket sales revenue by 143 million due to “metrics optimization“. He also detailed that the inflation will be transferred to the price of tickets.high demand sessions“. He also elaborated that the free transport for the audience was initially planneddeleted in agreement with IDFM (Ile-de-France mobilities)“.
Source: Le Figaro
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