French authorities chip in 111m euros for 2024 Olympics

By: AFP
Published: 12:02 AM, 3 Dec, 2022
French authorities chip in 111m euros for 2024 Olympics
Stay tuned with 24 News HD Android App
Get it on Google Play

French authorities said Friday they will increase their contribution to the 2024 Paris Olympic and Paralympic organising committee (Cojo) by 111 million euros ($117m).

National and local government were heeding a request from Cojo, which said on November 21 that they needed to lift their budget estimate 10 per cent from 3.98 billion euros to 4.48bn euros, partly as a result of inflation.

Cojo are due to finalise the budget for running the Games at a board meeting on December 12.

The French government has been funnelling its contribution through Solideo, the public company in charge of building projects.

Cojo is meant to be self-funding but had already received 100 million from the national government, ear-marked for the Paralympics.

National, Parisian and regional governments are all contributing but said they had not yet agreed who was paying how much.

They did say extra cash includes 71 million euros more for the Paralympics, 12 million for "sports equipment", 15 million for regional "redevelopment projects" and eight million for anti-doping.

With Cojo pressing ahead with an ambitious opening ceremony on the Seine, they said the budget for the four Olympic and Paralympic ceremonies is "up 30 million euros to 130 million euros".

Cojo said sponsorship and ticket sales were ahead of projections.

Tony Estanguet, the Cojo president, said that inflation would be reflected in the prices of tickets for prime sessions and that the plan for free transport for the spectators, had been dropped.

Categories : Sports
AFP

Agence France-Presse is an international news agency.