Monday, June 5, in the preamble to his three-day visit to Paris, to take stock of the preparation for the Olympic Games (OG) of 2024, Pierre-Olivier Beckers, the president of the Olympic Games coordination commission within the International Committee Olympic Games (IOC), said that“there is still a lot of work to do”in particular on the budgetary level. “We know that we live in a difficult world, a world of inflation, a world where commercial partnerships are also more difficult to find”, he said in particular.
This difficulty in concluding partnerships, he is not the only one to have raised it. In a report to be submitted to Parliament, the Court of Auditors also raises this point: if it considers that the amount of revenue expected by the Games Organizing Committee remains subject to “substantial uncertainties”, it’s because she has a doubt about the new partnership signings.
“337.2 million euros remain to be secured” with regard to the contracts expected by Paris 2024 with national partners, note the financial magistrates. These partnerships should provide 1.22 billion euros in revenue, out of a total Cojop budget of 4.38 billion. The revenue forecasts from these contracts were revised upwards at the end of 2002 (+ 127 million euros), as part of a budget revision to preserve the overall balance of the Paris 2024 accounts.
140 million euros expected with LVMH
Securing these 337.2 million euros requires “must conclude” the contract under discussion with the luxury group LVMH, “announced for 140 million euros, but still not signed”, recalls the Court of Auditors. Who insists just as much on the need to achieve “the objective, supported by the State, of 100 million euros of complementary partnerships” with large national companies.
However, the Cojop ensures that “in the state of ongoing negotiations”including those with LVMH, “probable additional resources” which would have been secured would be located to 270 million euros”, report the financial magistrates. which would leave “a gap of 67 million euros to fill”.
The Court of Auditors is also concerned about the use of any additional revenue, which would come from ticketing or the sale of derivative products: “Assuming that it can compensate for a lower realization of partnership income or other final income”these should “be allocated to the contingency reserve and only cover justified overruns of expenses already planned”
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