Paris 2024 to go to market for sponsors in Q3
By Jonathan Rest at SportAccord in Bangkok
The organising committee of the Paris 2024 Olympic Games is to launch its marketing programme in the third quarter of this year, president Tony Estanguet has revealed.
Paris 2024 will officially be handed the rights to market the Olympic rings from January 2019, and is currently in the process of recruiting a marketing director and defining its commercial strategy.
Estanguet told Sportcal: “We are already speaking and engaging with potential sponsors, some of whom were involved in the bid and want to continue. We are confident because there is an appetite around France for this project, so many, many companies want to be part of this.
“We are recruiting a marketing head now, and we will decide the final strategy after with this director in place. We will go to market just after the summer, and be ready to announce the first deals in 2019.”
Tokyo 2020 has raised the bar for games organising committees, having already exceeded the figure of $2.9 billion for local sponsorship revenue that it forecast it would bring in.
Much of that success has been down to the work of Dentsu, the Japanese advertising giant heavily involved in sports marketing.
Asked whether Paris 2024 would bring in an agency to sell sponsorship or keep the business in-house, Estanguet said: “We have started internally with our network [of companies] that we already know well. But probably in time we will use some agencies as well to assist us.”
Paris 2024 also announced that construction tenders for the Aquatics Centre will be issued early next year.
The venue is slated to be built next to the Stade de France in Saint-Denis, one of Paris’ poorest suburbs, at a cost of €130 million ($161 million), but a recent report from the French government revealed the project was at risk of running as much as €170 million over budget.
The same report, by finance, sports and infrastructure inspectors, called for the site of the planned Olympic Village in Saint-Denis to be revised, and the media village scaled down to avoid the games running as much as €500 million over budget.
Estanguet said: “We have launched a number of studies to analyse risks and costs. We will have a first draft of the new concept by the [IOC] coordination commission in June and maybe there will be some changes after that, with the aim of having a final plan for end of 2018 before launching the different construction tenders.”
On the Aquatics Centre specifically, Estanguet said “as of today” there are no plans to move it away from Saint-Denis.
He added: “The issue is more about ensuring the legacy is efficient and the cost is reasonable.”
The overall budget for hosting the Paris 2024 Olympics was initially set at €6.8 billion, with public money contributing €1.5 billion, and Estanguet vowed not to exceed that.
He said: “If we have to reduce some of the legacies that we leave, we will do it. But we told the public we will not go over the public money of €1.5 billion. We will not increase this.”