“I have experienced more difficult boards of directors. » Fabrice Lacroix, the financial director of Paris 2024, has a smile. Thursday, December 12, on the occasion of the presentation of its final multi-annual budget, the organizing committee for the Olympic and Paralympic Games (Cojop) must announce to its administrators a surplus of 26.8 million euros. “Immense satisfaction, one of the prides of Paris 2024”prides Tony Estanguet, the president of Cojop, as the objective of achieving a balanced budget was still a challenge a few weeks before the start of the Games.
The good results displayed allow Cojop to reduce the public contribution by around thirty million euros. The City of Paris (for a total of 7.5 million euros), the Greater Paris metropolis, the Ile-de-France region (around 5 million each) and the State (12 million) had provided guarantees on the Paralympic Games which were ultimately not activated by Cojop, thanks to increasing revenues.
The total revenue from Paris 2024 amounts very precisely to 4.480 billion euros; expenditure reached 4.453 billion euros. In detail, the contribution of the International Olympic Committee – from audiovisual rights and global partners – is estimated at 1.228 billion euros. That of Paris 2024 sponsors amounts to 1.238 billion. And the more than 12 million tickets – a record in the history of the Games – sold to the general public brought in 1.333 billion euros for the organizer. And even 1.489 billion with hospitality (tickets and privileged services), or nearly 350 million more than expected in the application file.
Read also | Paris 2024: the accounts of the Organizing Committee “close to balance”, even “in slight surplus”
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A drastic budgetary revision at the end of 2022
According to Cojop, expenses have increased by 17% (18% for revenue) since September 2017 and the attribution of the Games to France. “This is the smallest slip in the Olympic Games in the modern era”welcomes Fabrice Lacroix. A good half of the increase is due to « choc d’inflation » from 2022 because of the war in Ukraine, which the financial director assesses “between 300 and 400 million euros”. The remaining half results from changes to the project. Some were “suffered” by the organizer, like the security system, whose explosion of requirements in relation to the candidacy cost an additional 120 million euros.
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