{"id":18084,"date":"2023-06-10T12:00:05","date_gmt":"2023-06-10T19:00:05","guid":{"rendered":"https:\/\/essential.construction\/news\/ioc-gives-resounding-thumbs-up-to-paris-olympic-plans-as-organizers-chase-lvmh-deal\/"},"modified":"2023-06-10T12:00:06","modified_gmt":"2023-06-10T19:00:06","slug":"ioc-gives-resounding-thumbs-up-to-paris-olympic-plans-as-organizers-chase-lvmh-deal","status":"publish","type":"post","link":"https:\/\/essential.construction\/news\/ioc-gives-resounding-thumbs-up-to-paris-olympic-plans-as-organizers-chase-lvmh-deal\/","title":{"rendered":"IOC gives resounding thumbs up to Paris’ Olympic plans, as organizers chase LVMH deal"},"content":{"rendered":"

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PARIS \u2014 An IOC inspection team gave a resounding thumbs-up to Paris\u2019 preparations for the 2024 Olympic Games, declaring \u201ca very, very high level of confidence\u201d despite unresolved questions about financing and security.<\/p>\n

\u201cParis is where it should be with 415 days to go,\u201d said Pierre-Olivier Beckers-Vieujant, who heads the IOC commission overseeing Paris\u2019 plans.<\/p>\n

While new Olympic venues are on track, French auditors have flagged to parliament that they\u2019re still unable to say how much the Games will cost in total and what their final impact will be on public finances, once security and other expenses are factored in.<\/p>\n

Some 8.8 billion euros ($9.4 billion) are budgeted for Olympic\u00a0construction\u00a0and the Paris organizing committee, with more than a third of that from public coffers.<\/p>\n

Despite their repeated reassurances, doubts also persist about whether Paris organizers will be able to recruit private security guards in sufficient numbers so that military personnel don\u2019t need to be mobilized to help secure venues.<\/p>\n

Still, the messaging from the IOC and Paris organizers was unrelentingly upbeat at the end of a three-day visit to France\u2019s capital by Beckers-Vieujant and his team.<\/p>\n

\u201cI can tell you that we are leaving Paris with a very, very high level of confidence about the fact that Paris will be ready to host the Games,\u201d Beckers-Vieujant said.<\/p>\n

The head of the Paris organizing committee, Tony Estanguet, described himself as reassured.<\/p>\n

The IOC \u201crecognizes that we are on time,\u201d he said.<\/p>\n

To boost revenues, Paris organizers confirmed that they are working to bring French luxury giant LVMH on board as another major sponsor.<\/p>\n

But there was no final word on when that might happen.<\/p>\n

\u201cTalks are underway with the LVMH group,\u201d Estanguet said. \u201cWe have to stay prudent because this deal isn\u2019t signed.\u201d<\/p>\n<\/p><\/div>\n