French Olympic Committee President: "The budget for the Olympics is 4.4 billion euros, and we will meet profitability goals"

"We are facing many challenges, the first of which is the security of the delegations and visitors. We are also facing the risk of cyberattacks which could disrupt the Olympic Games, and we are doing everything we can to ensure that does not happen," said David Lappartient, President of the French National Olympic and Sports Committee to Israel’s Business Delegation to Paris led by Calcalist and Bank Hapoalim.

David Lappartient.

Lappartient, who heads the local body responsible for organizing this year's games, shared insights about the budget surrounding the Olympics with those present. "The budget for the Olympic Games is approximately 4.4 billion euros, 97% of which comes from private sources, such as broadcasting rights (around 1.2 billion euros), ticket sales (1.4 billion euros), sponsors (1.23 billion euros), and other revenues. To keep the budget balanced, we need to work hard, and I am pleased to say we are meeting this goal.

"The Olympic Games are supposed to be profitable for the country, considering all the associated contributions to holding the games, and fortunately, we have achieved this from the beginning. Beyond organizing the games themselves, as a local committee, we also have a commitment to the French delegation, which will include more than 500 athletes this year. We need to take care of each and every one of them. The Olympic Games are very important to France," added Lappartient.

Although the main focus is on the upcoming Olympic Games which will begin on July 26, Lappartient is already looking ahead to the next Olympics that France will host – the Winter Games in 2030, which will take place in the French Alps. In the meantime, he is also promoting the integration of eSports into the Olympics, which he regards with the same seriousness as other events. "\[e-Sport events\] will be held in between the Summer and Winter Games. This is a key element for the success of the entire Olympic endeavor and connects the next generation to the games. It includes several categories, such as game simulations similar to FIFA games, as well as games that combine physical effort by participants but are online, like cycling races in front of screens."

Lappartient also expressed solidarity with the Israeli delegation amid the ongoing war. "When you enter this building, you see the sign calling for the release of the hostages, and we want to express our full solidarity with what happened on October 7. We hope that sports will bring peace," he said.

The event was hosted at the town hall of Paris’ 16th arrondissement and the entrance of the building is adorned with a large banner calling for the release of all Israeli hostages from Hamas captivity. Jérémy Redler, the mayor of the 16th arrondissement, told the delegation that the district is home to a large Jewish community that holds an important place with the local government. "Since October 7, our thoughts are with you," said Redler. "On October 12, we decided to put up the banner for the release of the hostages. We were the first to do so. Unfortunately, not everyone followed us, but for us, until the last hostage returns home, we will not take down this banner."

Redler added that every Friday at noon, the municipality holds a rally for the release of the hostages. "Week after week, also on social media, it is important for us to raise awareness of the issue and to be there for them," he said.

Jérémy Redler.

Redler also addressed the recent decision by International Court of Justice prosecutor Karim A.A. Khan to issue international arrest warrants against Prime Minister Netanyahu and Defense Minister Yoav Gallant. "I was asked about this by a journalist a few days ago. He wanted to know my opinion on the matter. My answer was that you cannot treat the prime minister of a democratic country the same way you treat the head of a terrorist organization."

The Israeli side of the meeting was led by Olympic gold medalist and President of the Israeli Olympic Committee, Yael Arad, who spoke about the organization of the Olympic Games and the committee’s behind-the-scenes work. "I call the International Olympic Committee the sixth continent. It is customary to think that the Olympic Games occur every four years, but in a full Olympic cycle, there are nine different events. The movement of the International Committee is one of the strongest in the world economically. What characterizes it is not just the organization and broadcasting rights but much more than that," Arad shared.

Yael Arad.

"Following instances where cities nearly went bankrupt after hosting the Olympics, such as Montreal in 1976 and Athens in 2004, the Olympic Committee decided there is no economic feasibility for holding the games in a particular city if it does not have established existing infrastructure. In fact, in the Paris Olympics, most of the facilities are existing ones that have undergone some renewal, with four new sites at the most being built alongside them."

Arad also spoke about the commercial aspect of the games: "There are 55 companies in France that have provided sponsorship and partnerships with the organizing committee. There is hardly a self-respecting company in technology, banking, or otherwise that is not linked to the games. Ten million people are expected to come here, and 5 billion people will watch it on television."

After Arad, Gili Lustig, CEO of the Israeli Olympic Committee discussed preparations for the Israeli delegation to the Summer Games. "Like in business, in sports, we check ourselves over the years, performance versus planning. Without this monitoring, there are no results. In Tokyo, Israeli athletes made a huge leap with four medals. We won two gold medals, by Artem Dolgopyat and Linoy Ashram, both of whom broke glass ceilings.

"The country has been in chaos since October 7, but Israeli sports are in a completely different place. Nevertheless, we are facing an unprecedented challenge of athletes who cannot travel to all preparation competitions, sometimes because the Shin Bet refuses. The situation is less than optimal, but we are trying to draw encouragement from the fact that in 2023 our athletes managed to win 19 medals in various competitions. We also started this year with medals. We will bring 85 athletes to Paris. Most of the delegation will come from elite fields like sailing, and I hope that on July 26, when we sail on the Seine River with the Israeli flag, we will represent the country with pride and hope to meet the expectations that the country has for this team."