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≡ SWITZERLAND 2038 ≡
The Swiss government pronounced its backing to have the 2038 Olympic Winter Games in the country. The official statement released on Sunday noted:
“The Federal Council is in favour of Switzerland hosting the 2038 Olympic and Paralympic Winter Games. At the start of this year, it set out the main criteria for supporting this major sporting event. During the consultation process, the proposed planning decision was widely supported. This provides for a federal contribution of CHF 200 million.
“At its meeting on 19 June, the Federal Council took note of the results of the consultation and approved the dispatch for submission to Parliament.”
The funding is a key issue and the statement was clear about what the Swiss government WILL NOT cover (CHF 1 = $1.24 U.S.):
“In the planning decision, the Federal Council has provided for a federal contribution of up to CHF 200 million. This support is conditional on the cantons and communes contributing an equivalent amount to the costs of planning and staging the OWPG 2038. The federal contribution will be used to co-finance the Paralympic Games (CHF 60 million), subsidise public transport for visitors (CHF 50 million), cover additional costs incurred by the organising body (CHF 80 million) and provide a contingency fund for unforeseen expenses (CHF 10 million). This sum excludes funding for security tasks, which will be covered by the Confederation as part of its regular responsibilities.
“The planning decision also stipulates that the Confederation will not be liable for any deficits related to the 2038 Winter Games. The association responsible for organising the Games has provided a privately financed deficit guarantee of CHF 200 million. Total costs are estimated at CHF 2.2 billion, and alongside public-sector contributions, revenues are expected from sponsorship, merchandising, ticket sales and a substantial contribution from the IOC.”
The Swiss bid is in a “Privileged Dialogue” with the International Olympic Committee and has until the end of 2027 to compete a bid which is satisfactory to the IOC. There is no doubt of the quality of Swiss winter-sport facilities, but it will be key to see what the IOC will do with the lack of a national government guarantee against deficits.
Recent Games have had multiple partners guarantee against deficits, as is the case for the Milan Cortina 2026 Winter Games, with local, regional and national governments all involved in guarantees. Los Angeles 2028 has the City of Los Angeles as the primary guarantor, with some help from the State of California, but not from the U.S. government.
The Swiss government announcement also ruled out a national referendum and made a clear statement about how “big” the Winter Games project is:
“The Federal Council continues to classify the planning decision as ‘not of major significance’, meaning it is not subject to an optional referendum. The expected financial commitment from the Confederation is significantly lower than that of previous OWPG bid projects, and the risks associated with the hosting and financing concept appear manageable.
“The decentralised hosting concept ensures that parliaments and local populations in the areas where competitions will take place will be involved.”
Switzerland has hosted the Winter Games twice, in St. Moritz in 1928 and 1948.
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