With one year until the 2026 Winter Olympics, the organizing foundation has disclosed a significant equity gap of €15,030,808. However, the organization led by CEO Andrea Varnier maintains confidence in achieving break-even status.
Financial statements approved by the foundation’s board on June 26 note that the deficit “will be covered by expected revenues in the next two fiscal years (2025 and 2026), as well as income generated before, during, and immediately after the Olympics.” This projection relies on anticipated boosts from sponsorships, ticket sales, and post-event activities.
Despite the gap, the latest report shows encouraging trends. The foundation’s annual loss stands at €30.5 million, a 9.5% decrease from the previous year. Revenues have surged by 184% to €76.142 million, driven by growing sponsor commitments and early commercial partnerships.
Notably, personnel costs have risen sharply by 55.8% to €23.4 million, as staff numbers expanded from 281 to 394 in a year—reflecting the scaling up of operational teams for final preparations.
The financial statements also reveal details of key projects. The “Essential” Olympic and Paralympic torches—designed by Studio Carlo Ratti Associati and engineered/produced by Cavagna Group, known for their minimalist design—have incurred total costs of €644,217.
CEO Andrea Varnier emphasized that the foundation is “on track to manage expenses while maximizing revenue streams,” adding that the team is focused on delivering a financially sustainable event as the one-year countdown begins.
