ST. GEORGE — Leaders of the Salt Lake City-Utah Committee for the Games believe they can cover the $2.83 billion 2034 Winter Olympics’ operating budget without local, state or federal taxpayer dollars and still “break even” at the very least.
The committee unveiled its proposed operating budget and other financial figures — projected 2034 values — on Monday, days before the International Olympic Committee Future Host Commission will present its recommendations to the IOC Executive Board. The board could set up a vote on whether to award the 2034 event to Salt Lake City, which would be carried out next month.
Fraser Bullock, the committee’s president and CEO, said the plan is to lean on commercial and private sources — such as domestic sponsorships, ticketing and hospitality — to cover the costs. It expects to generate nearly $3 billion in sponsorships and ticket/hospitality sales alone, which covers about three-fourths of the nearly $4 billion projected event revenue.
Should the projections come to fruition, it expects to direct $260 million toward a “legacy” fund to support Utah community sports programs. The remaining $905 million would go toward a joint marketing program with the U.S. Olympic and Paralympic Committee.
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Written by CARTER WILLIAMS, KSL.com.
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