POSTED: June 10th 2013

Buenos Aires offers financial guarantees to IOC ahead of YOG bid

Buenos Aires will host the 125th IOC session in September / Buenos Aires Tourism
Buenos Aires will host the 125th IOC session in September / Buenos Aires Tourism

CHAD WISE / Sports Features Communications

(SFC) The International Olympic Committee today received the commitment of the Buenos Aires 2018 Youth Olympic Games Bid Committee and the Government of the City of Buenos Aires for financial guarantees and the necessary funding the Youth Olympic Games.

“I am very pleased to respond to the IOC Evaluation Commission comments and fully confirm our city’s commitment to the 2018 Youth Olympic Games bid,” Head of the Government of the City of Buenos Aires Mauricio Macri said. “It would be a great honour for Buenos Aires to host these Games and we will provide the resources and guarantees required for the successful development and celebration of the YOG, and ensure young athletes, media, sports fans and Members of the Olympic Family from around the world have a truly memorable experience.”

The Government of the City of Buenos Aires will take full responsibility to cover potential shortfalls in the Organising Committee’s commitments and the costs incurred for the Youth Olympic Village, as well as the permanent and temporary infrastructure for the Youth Olympic Games.

“Buenos Aires can be trusted to deliver a YOG that will make the whole Olympic Movement proud of this new international celebration of sport and culture,” Buenos Aires Under Secretary of Sport and Buenos Aires 2018 Bid Committee Chief Executive Francisco Irarrazaval said. “We will make excellent partners for the IOC should we have the honour of hosting the YOG in 2018 and we welcome the Evaluation Commission’s assessment that Buenos Aires ‘presents minimal risk to the IOC.’”

The International Olympic Committee will also have full custody of all Games venues for as long as requested as a result of the formal guarantees. A written response to the IOC Evaluation Commission report – published 4 June – will be sent by Buenos Aires 2018 to confirm the financial guarantees and will be delivered by 12 June.

“Buenos Aires’ campaign for the YOG is a priority for the city and nation and we are pleased to confirm that all levels of government are unified behind this bid,” Irarrazaval said. “Our bid has total, unconditional and cross-party political support and there is a united effort to help Buenos Aires win the right to stage the 2018 YOG.

“We want to emphasise today that the Buenos Aires Government guarantees unequivocally that all the necessary funding will be available for the YOG with total financial security.”

Buenos Aires is bidding against Glasgow and Medellin to host the 2018 Youth Olympic Games.

Keywords · Buenos Aires 2018 · International Olympic Committee · Youth Olympic Games ·

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