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Paris 2024 Olympic Bid Fundraising Plans In Jeopardy


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Paris’ plan to raise 60 million euros to fund its 2024 Olympic bid is facing major hurdles, news reports out of France claim. The bid will receive approximately 30 million euros from the government but will need to raise another 30 million from private sources, according to RTL.  Of the private money 10 million euros was […]

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The response of the French does not seem to be positive.

http://sport24.lefigaro.fr/le-scan-sport/business/2015/12/14/27004-20151214ARTFIG00187-l-appel-aux-dons-pour-la-candidature-aux-jo-2024-a-paris-decoit.php

http://linkis.com/www.rtl.fr/actu/soci/jBmqj

"The Olympics are no longer a dream of the people but the political class" is my favorite.

I do wonder if the Olympic bid could become a political problem for the socialists. For our French posters: the right seems very opposed to paying for the games, but what about the left? How many socialists want to donate money to sport instead of social programs?

Edited by Nacre
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I guess Rome bid must be rubbing their hands right now. The general populace saying the Olympics are now a political thing was one of the things which led Oslo to become very suspicious and we all know how it ended.

Btw I'm going to laugh my ass off if everyone decides to resign in the end and only Budapest remains, just like last time. :lol:

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Of the private money 10 million euros was expected to be donated by citizens before New Years Eve...

I find it hard to believe any bid could get a kickstarter-esque campaign raising those kind of sums. I don't think this is reflective of low levels of support, or the start of an Oslo 2022 style decline, but it is a misstep from Paris who have been hugely overoptimistic here.

They should keep this scheme going in the background, treat any extra sums raised as a bonus, and move seriously to talking to corporate partners. That's where the big bucks will be.

Edited by Rob.
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I find it hard to believe any bid could get a kickstarter-esque campaign raising those kind of sums. I don't think this is reflective of low levels of support, or the start of an Oslo 2022 style decline, but it is a misstep from Paris who have been hugely overoptimistic here.

It's not that crazy. Small video game projects routinely attract millions of USD through Kickstarter. The fact they have not been able to raise a quarter of the money that a remake of a 1990's video game would receive does not seem promising if they are really depending on substantial public support.

On the other hand the selling point for Paris over Los Angeles is that the former will have much more government financial support. So if the politicians of France are willing to shove the bid down the throats of its citizens whether they like it or not, then the failure of their crowdfunding project does not matter. I just doubt that the French government is going to be willing to force the games on their citizens if they are truly opposed to hosting. And from the perspective of maintaining popular support, the failure of people-focused initiatives like this one looks really bad to the public.

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It's not that crazy. Small video game projects routinely attract millions of USD through Kickstarter. The fact they have not been able to raise a quarter of the money that a remake of a 1990's video game would receive does not seem promising if they are really depending on substantial public support.

I think people are more likely to be enthused by kickstarter projects that feel like genuine 'grassroot' efforts, indie projects and the like. Also projects where there is a sense of real ownership, where a niche group is supporting it and enthusing one another.

Olympic bids by their nature are top-down projects which, especially two years from bidding, are political and can feel quite distant. The kickstarter approach just doesn't seem a good fit to me which is why I reckon they should start talking to corporate sponsors as soon as they can.

Which brings me onto this.....

That would require a level of self awareness they simply don't have. Their response to Hamburg was still, "those losers don't understand what they are missing."

Whilst this doesn't solve anything and just compounds their problem there is an element of truth in this and it's the nut the IOC has to crack. London's polling numbers two years out were similar to what Hamburg's were before their referendum (just above 60% in favour). Extrapolating from Hamburg, therefore, if London had had an official referendum I reckon it would've been a close run thing. A referendum could've easily scuppered a London bid before it got off the ground.

But the numbers supporting the Games rose as time went on and after 2012 most people you speak to would happily have them back. I know I've got friends who really regretted their cynicism and wished they'd applied for tickets after the Olympics had come and gone. And this pattern is replicated across host cities. In the US there is some Olympics cynicism but SLC and LA would happily host again, Spain kept bidding in the afterglow of Barcelona, Sydneysiders have only good things to say about their Games and would surely welcome them back.

People are generally happy they had the Games afterwards so there is a real grain of truth in the "they don't know what they're missing" argument.

So how do you square that circle? How do you prevent abortive bids? How do you say to people "this will be good, trust us!" without coming across as arrogant or dictatorial. It's a real difficult one.

Edited by Rob.
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But the numbers supporting the Games rose as time went on and after 2012 most people you speak to would happily have them back. I know I've got friends who really regretted their cynicism and wished they'd applied for tickets after the Olympics had come and gone. And this pattern is replicated across host cities. In the US there is some Olympics cynicism but SLC and LA would happily host again, Spain kept bidding in the afterglow of Barcelona, Sydneysiders have only good things to say about their Games and would surely welcome them back.

People in Montreal and Athens have a different view, though, and this is why the growth of costs is a problem that the IOC needs to resolve. We have now reached the point where even London and Tokyo -two of the top three cities in the world- have struggled to find a sensible plan for key venues and with labor supply for security or construction.

If it were my decision I would cut the games in half and go back to the ancient cycle of one games per year. (Olympia, Delphi, Corinth and Sicyon.) The snow and ice events for the winter games are de facto separate events now anyway, and the summer games can easily be cut into individual vs team sports. Other people hate that idea though.

They need to make some sort of dramatic change, though. Either scrap the bidding process to prevent cities from competing with each other in building palaces for sport, or start a rotation policy to reduce competition, or penalize bids for spending too much in new construction. The current reforms won't work because cities are still bidding against each other.

Edited by Nacre
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