Salt Lake City 2034 has its action plan. The OCOG Board and Steering Committee held their first meetings, which helped develop an initial schedule. A dozen committees have also been created, or are in the process of being created, to ensure the organization's effectiveness in areas such as ethics, finance, impact and legacy, infrastructure, and governance. Present before the press to take stock, three months after the creation of OCOG, the organizers also talked about money, and announced a change that is not at all trivial.
Donations instead of taxes
The total cost of these Winter Games is estimated at four billion dollars. To meet this target, the OCOG is hoping to secure $300 million in private donations. A lofty goal, twice the $163 million cited in last year's budget, but clearly achievable, according to Steve Starks, Vice Chairman of the Board of Directors. "We rely on donations and contributions to avoid taxing the public.", he explainedThe 2034 Winter Games will be entirely privately funded. From the outset, organizers assured that taxpayers would not have to foot the bill.
"We are not ready to announce the amount we have raised so far, but we are off to a good start., he said, adding that many institutions and foundations are interested in supporting the event. Utah is known for rallying around great causes, and certainly bringing back the Olympic and Paralympic Games in 2034 is one of our state's greatest causes. Tom Kelley, OCOG's communications director, added that the organization was already "in a very good position on this point".
Cushioning the unexpected
To finance the Games, Salt Lake City 2034 is also counting on $1,8 billion in domestic partnerships and $1,2 billion in ticket sales. The IOC's contribution, estimated at $751 million, will complete the financial puzzle. The $300 million in donations may seem like a drop in the ocean, but the figures are deceptive: the OCOG will not be able to enter into any commercial partnerships before 2028 to avoid competing with the Los Angeles Games. Private donations will therefore help fill the coffers and allow the organization to begin work. But they will also help protect its future.
“There will always be unforeseen events, things we can’t anticipate. This $300 million figure gives us the opportunity to weather storms and achieve the broader goal of delivering financially responsible Games that will leave a legacy for the future.”, Starks explains. Prevention is better than cure, especially in the current economic climate, made very uncertain by Donald Trump's aggressive policy, particularly regarding tariffs. OCOG has already appointed a full-time donor and community engagement manager, Rachel Alder. A statewide "listening tour" has also just begun to connect citizens with the project—and, of course, to attract potential donors across the country. Any surplus will be incorporated into the Utah Olympic Legacy Foundation's endowment fund.
