The operating budget for the Olympic Games in Paris in 2024 is under control, the president of the Organizing Committee, Toni Estange, said today.
A year before the opening ceremony of the Games, Estange said that partnership agreements are on the way and that 22 new sponsors have joined the organizers since the beginning of the year.
"Recently, we crossed the threshold of one billion euros in secured revenues from our partners. This is unprecedented. This is the first time that a sporting event in France has collected so much money from companies and partnerships," he added.
Estange emphasized that the money does not include "a new premium partner that is being negotiated."
The organizers are negotiating a partnership with Louis Vuitton (LVMH).
The organizing committee has an operating budget of around 4,4 billion euros.
Estange said 96 percent of the budget is funded by the private sector, including the International Olympic Committee, partner companies, as well as ticket sales and licensing. He added that the goal of the organizers is to secure 92 percent of the budget by the end of the year.
The total budget for the Olympic Games in Paris, including the costs of building and renovating facilities, is around eight billion euros.
The Olympic Games will be held from July 26 to August 11, 2024 in Paris.
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