In December 2022, due in particular to inflation, the Cojo budget increased by 400 million, reaching 4.380 billion euros. The State and the communities had added 111 million euros from their own pockets and part of the State’s increase has just been voted in an amending budget (48 million in total including credits also for the Delivery Company of Olympic works). At the end of the year, Cojo is doing its accounts, which will be detailed during a board meeting scheduled for December 11. To stay at around 4.4 billion euros in budget, it will draw on its “contingency reserve”, it was indicated to AFP within Cojo. It will “halve” this reserve of 275 million euros, or between 120 and 135 million euros. He had already drawn 115 million at the end of 2022.
The arrival of LVMH as a major sponsor – the wait lasted months – in July 2023 made it possible to add 150 million to the sponsorship revenue box, which should ultimately reach 1.2 billion euros. The rest of the revenue will come from ticketing and the contribution from the International Olympic Committee (IOC). Throughout 2023, the organizers of Paris-2024 carried out “redeployments” and “savings”, it was further clarified to AFP. Most of the contracts have been concluded, according to Cojo. But there are still some left, the committee had to relaunch, for example, calls for tenders for private security contracts for the opening ceremony on the Seine on July 26.
To prevent the budget from slipping out of control, all these contracts must go smoothly. As for Solideo, the Olympic works delivery company, which is in the process of finishing works such as the Olympic village in Saint-Denis, inflation, in the wake of the war in Ukraine, has increased the bill. The public share of the Solideo budget is 1.7 billion, according to the latest 2024 budget document, out of 4.4 billion.
Added with the Cojo budget, the Olympic budget is currently 8.8 billion euros in total.
But this cost does not include all the expenses incurred by the State, particularly those related to security. At this stage, the budget documents show public investments of 2.44 billion euros (including 1.3 billion for the State or 260 million for the city of Paris) but also mention other expenses. According to this document, security and health expenditure “will be refined as the Games approach, particularly with regard to securing the opening ceremonies of the Olympic Games and Paralympic Games, open to the city “.
For security, the figure of 200 million euros was cited for the internal security forces by Gérald Darmanin. The Minister of the Interior has just started negotiating with the police unions, who are asking in particular for bonuses, for the efforts requested for the summer of 2024, sums which will be added to the bill. The president of the Court of Auditors, Pierre Moscovici, estimated public investments at 3 billion euros in the end. As for the State, it continues to say that we should not fear any slippage. But, the reality of all accounts cannot be fully known until after the event.
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