The Rio 2016 Committee, organizer of the Rio de Janeiro Olympics, announced on Thursday the 23rd that the budget for the Olympic and Paralympic Games will be R$7 billion. A little over half (51%) will come from local sponsors of the event and 9% will be invested by international sponsors. Revenue from product licensing will account for 6%.
In total, revenues linked to marketing will account for approximately R$4.7 billion (66%) of the projected cost of the Olympics. The remaining R$2.3 billion will come from the International Olympic Committee and ticket sales. The forecast includes only private sector resources and exclusively directed towards holding the Games.
The total budget of R$7 billion represents an increase of R$2.8 billion on the initial forecast, made in 2008.
The Committee claimed that, by updating the values of the risk managers email lists first budget, based on the Consumer Price Index (which had a variation of 31.89% during the period), the amount of R$4.2 billion would correspond, currently, to R$5.5 billion. “In addition, expenses that arose after Rio's victory were included, such as the inclusion of four sports in the Games program (Rugby, Golf, Paracanoeing and Paratriathlon, defined by the IOC and the International Paralympic Committee). Technological developments, the requirements of new legislation, the costs of use and retrofitting of the Olympic Village and the average growth of salaries in Rio at rates higher than inflation also contributed to the total of R$7 billion”, justified the Committee, in an official statement.
Sponsors
In total, 21 commercial agreements have been signed for the 2016 Games, distributed among the following quotas:
Global Olympic Sponsors: Coca-Cola, Atos, Dow, GE, McDonald's, Omega, Panasonic, Procter and Gamble, Samsung and Visa.
Official Sponsors: Bradesco, Bradesco Seguros, Claro, Embratel and Nissan.
Supporters: Cisco, EY, Sadia, Batavo and Skol.
Supplier: Nike.
The Rio 2016 Paralympic Games currently have seven official sponsors (Atos, Bradesco, Bradesco Seguros, Claro, Embratel, Nissan and Omega) and one supporter (Sadia).
