Latest news with #TonyEstanguet
DW
6 hours ago
- Business
- DW
Paris Olympics, Paralympics cost some €6 billion — auditors – DW – 06/23/2025
Public spending tied to the Olympic and Paralympic Games in Paris last summer reached almost €6 billion, auditors say. France is also due to host the 2030 Winter Olympics in the French Alps. The 2024 Summer Olympics and Paralympics held in Paris cost French taxpayers just under €6 billion ($6.9 billion), according to an "initial estimate" by the national auditing body, the Cour de Comptes, released on Monday. It is the first time actual figures have been announced, with the auditors saying there would be "heightened interest" in them as France prepares to host the Winter Olympics in five years' time. According to the report from the Cours de Comptes, the organization of the two Games cost €2.77 billion, including €1.4 billion spent on security, with measures including the presence of some 30,000 police officers and gendarmes in Paris streets every day. Infrastructure projects linked to the Games, which ran from July 26 to August 11 and August 28 to Septermber 8 respectively, cost a further €3.19 billion, the auditors said. The president of the auditing body, Pierre Moscovici, had said said in 2024 that the sporting events would cost the state "three, maybe four, five billion euros." A more detailed report will be published in October, as other costs are not yet known, and another report on the legacy of the Games will be issued in 2026. The Cour de Comptes added that the figures did not include "the positive and negative impact the Games had on economic activity" owing to a lack of concrete information. It said that the Games were "indisputably a success with the public and the media" whatever economic consequences they did have. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Tony Estanguet, who led the organizing committee, questioned the estimates. "Through its methodological choices, the Cour has in fact declined to examine the only question that would meaningfully inform public debate: How much public money would have been saved if the Games had not been held in Paris?" he wrote in comments attached to the report. "It is undeniable that this amount would be far less than the €6 billion currently cited by the Cour. The organizing committee, as it already stated during the contradictory procedure, estimates that this figure does not exceed €2 billion, while the expected economic benefits of the Games are said to represent three to five times that amount," he added. Among other things, the organizers maintained that it was not valid to attribute some spending that predated the Games and continued afterward to the events. They also said it was not jusified to attribute major investments in unrelated projects launched long before the Games, to the Olympics and Paralympics.
National Post
6 hours ago
- Business
- National Post
$6.8B public spending for 2024 Paris Olympics, France's court of auditors estimates
PARIS — France's court of auditors provided Monday the first official estimate of public spending tied to the 2024 Paris Olympics and Paralympics, with the global public expenditure estimated at nearly six billion euros ($6.8 billion). Article content The Cour des Comptes said in its preliminary report, which was published ahead of the 2030 Winter Olympics also awarded to France, that the spending includes (euro)2.77 billion for the event organization and (euro)3.19 billion for infrastructure investments. Article content Article content Article content Paris 2024 organizers challenged the estimates in comments attached to the report. They notably said that some expenditures which predated the event and will continue afterward can't be attributed to Games. They also said that attributing major investments to the Olympics, despite being unrelated projects launched long before, is unjustified. Article content 'Through its methodological choices, the Court has in fact declined to examine the only question that would meaningfully inform public debate: how much public money would have been saved if the Games had not been held in Paris?,' said Tony Estanguet, the former head of the organizing committee. Article content 'It is undeniable that this amount would be far less than the (euro)6 billion currently cited by the court. The organizing committee, as it already stated during the contradictory procedure, estimates that this figure does not exceed (euro)2 billion, while the expected economic benefits of the Games are said to represent three to five times that amount,' he added. Article content Article content The Cour des Comptes insisted that its progress report is based on data available as of March 31, 2025, and does not claim to draw final conclusions. Article content 'The report does not include, due to unavailable data, any analysis of the positive or negative effects of the Games on economic activity or tax revenues, nor an assessment of tax expenditures related to their organization,' the Cour said in a summary statement. 'On this last point, the tax authorities informed the Court that no overall estimate is currently planned. This position is unsatisfactory, and the Court calls on the State to begin this evaluation without delay.' Article content
San Francisco Chronicle
8 hours ago
- Business
- San Francisco Chronicle
France's court of auditors estimates $6.8 billion public spending for 2024 Paris Olympics
PARIS (AP) — France's court of auditors provided Monday the first official estimate of public spending tied to the 2024 Paris Olympics, with the global public expenditure estimated at nearly six billion euros ($6.8 billion). The Cour des Comptes said in its preliminary report, which was published ahead of the 2030 Winter Olympics also awarded to France, that the spending includes €2.77 billion for the event organization and €3.19 billion for infrastructure investments. Paris 2024 organizers challenged the estimates in comments attached to the report. They notably said that some expenditures which predated the event and will continue afterward can't be attributed to Games. They also said that attributing major investments to the Olympics, despite being unrelated projects launched long before, is unjustified. 'Through its methodological choices, the Court has in fact declined to examine the only question that would meaningfully inform public debate: how much public money would have been saved if the Games had not been held in Paris?," said Tony Estanguet, the former head of the organizing committee. "It is undeniable that this amount would be far less than the €6 billion currently cited by the court. The organizing committee, as it already stated during the contradictory procedure, estimates that this figure does not exceed €2 billion, while the expected economic benefits of the Games are said to represent three to five times that amount,' he added. The Cour des Comptes insisted that its progress report is based on data available as of March 31, 2025, and does not claim to draw final conclusions. 'The report does not include, due to unavailable data, any analysis of the positive or negative effects of the Games on economic activity or tax revenues, nor an assessment of tax expenditures related to their organization,' the Cour said in a summary statement. "On this last point, the tax authorities informed the Court that no overall estimate is currently planned. This position is unsatisfactory, and the Court calls on the State to begin this evaluation without delay.' ___
Winnipeg Free Press
9 hours ago
- Business
- Winnipeg Free Press
France's court of auditors estimates $6.8 billion public spending for 2024 Paris Olympics
PARIS (AP) — France's court of auditors provided Monday the first official estimate of public spending tied to the 2024 Paris Olympics, with the global public expenditure estimated at nearly six billion euros ($6.8 billion). The Cour des Comptes said in its preliminary report, which was published ahead of the 2030 Winter Olympics also awarded to France, that the spending includes €2.77 billion for the event organization and €3.19 billion for infrastructure investments. Paris 2024 organizers challenged the estimates in comments attached to the report. They notably said that some expenditures which predated the event and will continue afterward can't be attributed to Games. They also said that attributing major investments to the Olympics, despite being unrelated projects launched long before, is unjustified. 'Through its methodological choices, the Court has in fact declined to examine the only question that would meaningfully inform public debate: how much public money would have been saved if the Games had not been held in Paris?,' said Tony Estanguet, the former head of the organizing committee. 'It is undeniable that this amount would be far less than the €6 billion currently cited by the court. The organizing committee, as it already stated during the contradictory procedure, estimates that this figure does not exceed €2 billion, while the expected economic benefits of the Games are said to represent three to five times that amount,' he added. The Cour des Comptes insisted that its progress report is based on data available as of March 31, 2025, and does not claim to draw final conclusions. 'The report does not include, due to unavailable data, any analysis of the positive or negative effects of the Games on economic activity or tax revenues, nor an assessment of tax expenditures related to their organization,' the Cour said in a summary statement. 'On this last point, the tax authorities informed the Court that no overall estimate is currently planned. This position is unsatisfactory, and the Court calls on the State to begin this evaluation without delay.' ___ AP Olympics:
Associated Press
9 hours ago
- Business
- Associated Press
France's court of auditors estimates $6.8 billion public spending for 2024 Paris Olympics
PARIS (AP) — France's court of auditors provided Monday the first official estimate of public spending tied to the 2024 Paris Olympics, with the global public expenditure estimated at nearly six billion euros ($6.8 billion). The Cour des Comptes said in its preliminary report, which was published ahead of the 2030 Winter Olympics also awarded to France, that the spending includes €2.77 billion for the event organization and €3.19 billion for infrastructure investments. Paris 2024 organizers challenged the estimates in comments attached to the report. They notably said that some expenditures which predated the event and will continue afterward can't be attributed to Games. They also said that attributing major investments to the Olympics, despite being unrelated projects launched long before, is unjustified. 'Through its methodological choices, the Court has in fact declined to examine the only question that would meaningfully inform public debate: how much public money would have been saved if the Games had not been held in Paris?,' said Tony Estanguet, the former head of the organizing committee. 'It is undeniable that this amount would be far less than the €6 billion currently cited by the court. The organizing committee, as it already stated during the contradictory procedure, estimates that this figure does not exceed €2 billion, while the expected economic benefits of the Games are said to represent three to five times that amount,' he added. The Cour des Comptes insisted that its progress report is based on data available as of March 31, 2025, and does not claim to draw final conclusions. 'The report does not include, due to unavailable data, any analysis of the positive or negative effects of the Games on economic activity or tax revenues, nor an assessment of tax expenditures related to their organization,' the Cour said in a summary statement. 'On this last point, the tax authorities informed the Court that no overall estimate is currently planned. This position is unsatisfactory, and the Court calls on the State to begin this evaluation without delay.' ___ AP Olympics:
