Paris' successful 2024 Olympic bid came in €5m under budget
Paris 2024, the host city of that year's Olympic Games, today officially disbanded its bid committee, announcing a surplus of more than €5 million ($6.12 million).
Paris was officially awarded the games at the International Olympic Committee session in Lima on 13 September, with Los Angeles, its original rival for 2024, named host of the 2028 Olympic Games in a historic double award.
The bid committee held its final board meeting today at the headquarters of the CNSOF, the French Olympic Committee, with the transition into the organising committee now complete.
The board confirmed the €5 million surplus from an original budget estimate of €60 million, with the state, the city of Paris and the Île-de-France Region each receiving over €1.5 million back.
It said in a statement: "The achievement of this budget surplus is a remarkable feat in bidding history and a strong testament to the rigorous management by the Paris 2024 bid committee. This exemplary and transparent approach will continue at Paris 2024 in the coming years in order to live up to its promise of delivering Olympic and Paralympic Games that are responsible, spectacular and useful for the population."
The team was criticised for spending €1.5 million of the bid budget on the Lima session, considering it had already all but been guaranteed the 2024 Olympics.
Paris 2024 will be led by Tony Estanguet, the IOC member, who was co-chairman of the bid team. The Olympic Venue Delivery Authority (SOLIDEO) has been established, while a recruitment drive is under way following the appointment of Etienne Thobois as chief executive, the same role he held during the bid phase.
Estanguet said: "We led an exemplary campaign, which concludes, with a budget surplus of over €5 million. This rigorous management sends a strong message, and we will follow the same diligent approach at the OCOG. The adventure ahead of us will be exciting, demanding but above all full of opportunities. This challenge will require everyone’s contribution and we are confident in our capacity to make of the 2024 Olympic and Paralympic Games a project that is spectacular, useful and responsible."
Paris mayor Anne Hidalgo added: "2017 was an exceptional year, that of a collective and historic victory, which the people of Paris, the Paris Region, and the whole of France can be proud of. We pass onto the next stage, which is equally important and demanding: organising the Games. We now need to turn our commitments into concrete actions. This will have to be done in the same exemplary fashion and the same diligence (especially in regards to the budget), as was done since the beginning of this beautiful adventure. My priority is that these Games are useful for all citizens and generate employment opportunities."