POSTED: January 24th 2014

Rio 2016 announces budget for upcoming Summer Games

CHAD WISE / Sports Features Communications

(SFC) The Rio 2016 Organising Committee announced a R$7 billion budget Thursday for the upcoming Summer Olympic Games. The budget will come from private sources like sponsorship, ticket sales, licensing and the International Olympic Committee.

Other data relating to the financing and organisation of Rio 2016 can be found on the Organising Committee’s website:

“Our obligation to Rio de Janeiro, to Brazil and to the worldwide sporting community is to deliver a memorable Games, since we are talking about the biggest celebration of sport in the world,” Rio 2016 Organising Committee President Carlos Arthur Nuzman said at a press conference held at the Rio 2016 headquarters Thursday. “We are undertaking the mission of planning and organising the Games in a responsible manner.”

The budget for Rio 2016 is based on private funding estimated in the Rio candidature file from 2008, which was R$ 4.2 billion. With a 31.89% rate of inflation found by the Brazilian indicator, that amount comes to R$ 5.5 billion.

Expenses occurring after the Games were awarded to Rio have also been included in the budget, like the addition of rugby sevens, gold, paracanoe and paratriathlon, the implementation of technological improvements and regulatory requirements, costs of leasing and retrofitting the Olympic Village, and the rise in salaries in Rio.

Rio 2016 will take on the responsibility of accommodation, food and transport for 16,000 athletes and delegations from 2014 countries, 4,5000 technical officials, 70,000 volunteers and more than 25,000 members of the media.

“The good results achieved with sponsorships and licensing allow us to forecast sufficient private revenue to cover the costs outlined in the budget we are presenting today,” Rio 2016 Organising Committee Chief Executive Officer Sidney Levy said.

“[The Committee has] undertaking a line-by-line critical analysis of the budget, to balance known spending commitments and be able to meet new obligations as they arise. We are striving to achieve a zero contribution of public funds to the Committee.”

Keywords · Rio 2016 · Olympics · Summer Olympics · Summer Games · Olympic Games · International Olympic Committee · IOC ·

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