Paris 2024 approves a 'balanced' multi-year budget of almost €4,397 million. © Getty Images


The Paris 2024 Board of Directors meeting on Monday, 11 December, 2023, at the Organizing Committee's headquarters, concluded with agreements and progress on budgetary matters.

As the year of the Paris Games approaches, a multi-year budget for the Organizing Committee was finalized after its fourth review. The desire and goal were always to close a balanced and stable budget, agreed upon by the State and the IOC, which played a significant role in the Paris 2024 Board of Directors approving it, with the endorsement of its Audit Committee. The final figure is €4.397 billion. The revenue plan was taken into account, which increased thanks to financial investment returns due to rising interest rates and a cash surplus.

Not only were revenues considered, but also costs and overruns related to inflation or risks that were not previously known. During the budget review, the possibility of maintaining funds to address any variations was studied, now that known costs are identified. It was also decided to maintain the residual reserve at a protective level (€121 million) to address uncertainties. In this regard, the Court of Auditors recommended in its latest report that this reserve be maintained at a minimum level of 100 million euros.

Paris 2024 aims to be more than just an event limited to the year of its celebration, seeking to leverage the programs launched as a legacy. ©
 Getty Images
Paris 2024 aims to be more than just an event limited to the year of its celebration, seeking to leverage the programs launched as a legacy. © Getty Images

Paris 2024 aims to be more than just an event limited to the year of its celebration, seeking to leverage the programs launched as a legacy. This decision was also solidified in the Board of Directors, and in simple terms, it is as if they want to give a second life to everything done to be much more effective.

In this context, initiatives like Club Paris 2024, Terre de Jeux 2024, and Génération 2024 are intended to have a long-term impact. The French National Olympic Committee (CNOSF), in collaboration with the French Paralympic Committee (CPSF) and national sports governing bodies, will be responsible for coordinating the community of 4.6 million (as of December 2023) Club Paris 2024 members.

The ongoing dialogue between the French National Olympic Committee (CNOSF), the French Paralympic Committee (CPSF), the International Olympic Committee (IOC), and the IPC for the organization of the 2030 Winter Olympic and Paralympic Games in the French Alps also offers the prospect of extending Paris 2024's programs, including its Endowment Fund, supporting the social impact of sports in France.

Regarding the physical legacy, Paris 2024 has placed anticipation at the center of its strategy by providing the necessary mechanisms for circular economy principles to be fundamental to this event. Everything built and all structures and facilities are intended to have a life far beyond the Olympic competition itself.

Another agreement sealed in the December 11 meeting relates to the subsequent dissolution of the Organizing Committee. The dissolution plans for each department in early 2024 will be dedicated to formalizing plans for each venue. Once these plans are validated, Organizing Committee employees will receive support as their contracts conclude and prepare for the post-Games period.