“I’ve been on more difficult boards.” Fabrice Lacroix, Paris 2024’s financial director, was all smiles. On Thursday, December 12, at the presentation of its final multi-year budget, the Organizing Committee for the Olympic and Paralympic Games (COJOP) is due to announce a surplus of €26.8 million to its directors. Tony Estanguet, COJOP’s president, is proud to say that “this is a great source of satisfaction, and one of the proudest achievements of Paris 2024,” given that the goal of achieving a balanced budget was such a daunting one just a few weeks before the start of the Games.
These results enable COJOP to reduce the contribution of public funds by around €30 million. The City of Paris (for a total of €7.5 million), the Greater Paris Metropolis, the Ile-de-France Region (around €5 million each) and the French State (€12 million) had set aside guarantees for the Paralympic Games, which COJOP eventually did not activate, thanks to higher revenues.
The total revenue for Paris 2024 amounts to €4.480 trillion, while expenditure amounts to €4.453 trillion. In detail, the International Olympic Committee’s contribution – from audiovisual rights and global partners – stands at €1.228 trillion. Paris 2024 sponsors contributed €1.238 trillion. And the more than 12 million tickets sold to the general public, a record in the history of the Games, brought in €1.333 trillion for the organizer. That number rises to €1.489 trillion when including hospitality (tickets and privileged services), almost €350 million more than expected in the bid file.
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