4 billion euros to fulfill Macron's promise: securing a mortgage in Paris requires winning 50 medals

Thursday, Jul 25, 2024

El Confidencial

France’s Paris 2024 Olympics involve massive funding, state goals for medals, and evolving athlete support systems compared to other nations.

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[This is an automatically generated summary, for reference only]

France is investing heavily in the Paris 2024 Olympics, with a total budget of 4.4 billion euros for city preparation, largely funded by private investment (96%). The French Ministry of Sports estimates the overall cost for both Olympic and Paralympic Games at 295 million euros, contrasting with Tokyo 2020’s higher cost due to pandemic-related preparations. France aims for five top rankings in the Olympics, while Spain ranks 24th historically. Despite past issues regarding athlete poverty, France has implemented programs like the High-Level Athlete status to improve support, though private sponsorship remains a challenge for some disciplines. The French government is increasing resources for sports development and local equipment. Both France and Spain have significant public funding streams for their athletes; in 2022, Spanish local authorities contributed over 4 billion euros to sports. Other European nations like Hungary and Bulgaria also demonstrate substantial financial commitments to their sports sectors, with the common goal being the achievement of medals.

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