Rio 2016 announces Organising Committee budget
The Rio 2016 Organising Committee has announced that its budget for organising the Olympic and Paralympic Games in 2016 will be balanced at BRL 7 billion. The funding will come from only private sources such as sponsorship, ticket sales, licencing and a contribution from the International Olympic Committee (IOC).
IOC President Thomas Bach said, "We congratulate Rio 2016 on announcing a balanced Games budget. We are happy to be contributing over USD 1 billion to the Games and to see that Rio is aiming to deliver its operations with only private financing. They conducted a very thorough budgeting process to reach this result and we believe that they can look forward with confidence, as they work to deliver successful Games in 2016. "
The budget covers all expected revenue and expenses of the Rio 2016 Organising Committee, as it works to deliver both Olympic and Paralympic Games. This endeavour is the equivalent of organising 65 Olympic and Paralympic championships, with 16,000 athletes and officials from 204 National Olympic Committees, 4,500 technical officials, 70,000 volunteers, and over 25,000 media representatives, along with all of their logistical needs in terms of accommodation, food and transport.
Rio 2016 Organising Committee President Carlos Arthur Nuzman said, “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. We are undertaking the mission of planning and organising the Games in a responsible manner.”
The Rio 2016 Committee confirmed its commitment to balancing revenues and expenses during the budget announcement. Sidney Levy, Chief Executive Officer of Rio 2016, noted that “the good results achieved with sponsorship and licensing allow us to forecast sufficient private revenue to cover the costs outlined in the budget we are presenting today”.
More information can be found at www.rio2016.com/transparencia .