Projected 2034 Olympic Games Budget to be $2.83 Billion, Organizers Say

An operating budget of $2.83 billion in 2034 values has been established for the 2034 Olympic and Paralympic Winter Games by the Salt Lake City-Utah Committee for the Games, organizers revealed on Monday.

The budget was provided to the International Olympic Committee as part of SLC-UT 2034’s response to the Future Host Questionnaire that was submitted in February. The IOC Executive Board is expected to review the report of its Future Host Commission this week and decide whether to recommend that the full IOC Session make a final decision on July 24 in Paris.

The $2.83 billion Games operating budget is part of an overall $3.99 billion budget that includes revenue sharing with the U.S. Olympic & Paralympic Committee, sponsorship fulfillment, sales costs, and legacy funding. SLC-Utah organizers project a target of $1.8 billion in domestic sponsorship plus a $1.19 billion in projected ticketing and hospitality revenue, which organizers said in the presentation is “foundational to Games success and allows OGOC to avoid state and local funding.”

The IOC makes a financial contribution to the success of the Games with a projected $751 million. There is also a $210 million contingency budget line item. Organizers project a “very lean staff” in the first four years of the organizing committee as well as reduced costs because of all venues being in full operation today, although there is a “significant technology expenditure due to complexity and increased global reach of the Games.”

Organizers also hope to leave $260 million in legacy funding for sport and youth programs and organizations including the Utah Olympic Legacy Foundation, which was set up originally with surplus revenues from the 2002 Games, and the Utah Sports Commission.

The 2034 venue plan includes all three Utah Olympic Legacy Foundation venues and no new venue construction with even an anticipated 40% increase in events. It also features resorts, including Park City Mountain and Deer Valley Resort in Park City, along with Snowbasin near Ogden. Indoor facilities include the Delta Center in Salt Lake City, Maverik Center in West Valley City and Peaks Ice Arena in Provo. Opening and Closing ceremonies are proposed at Rice-Eccles Stadium. A proposed downtown location for big air is Block 85, the site of the Medals Plaza in 2002. It is located in proximity to the Delta Center and Salt Palace Convention Center and big air generally takes place on a portable scaffold structure.

Salt Lake City took the latest step in May toward hosting the 2034 Olympic and Paralympic Winter Games with a virtual presentation to the Winter Olympic Federations ahead of next month’s IOC Executive Board meetings where its candidacy will be formally approved for a vote by the full IOC membership in July. That meeting was the next step after IOC toured the Salt Lake region in mid-April.

Both Salt Lake’s bid and the 2030 Games bid from the French Alps are in targeted dialogue with the IOC. Hosting the Olympic Games in 2034 would make Salt Lake City the fifth city to host the Winter Games twice, joining Lake Placid, New York (1932 and 1980); St. Moritz, Switzerland (1928 and 1948); Innsbruck, Austria (1964 and 1976) and Cortina d’Ampezzo, Italy, which hosted the 1956 Games and will co-host the 2026 Games with Milan.