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Milan-Cortina: Novari, sponsor for 280 million by 1922

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(ANSA) – MILAN, AUGUST 09 – Despite the pandemic and, immediately after, the war in Ukraine, the Milano Cortina Foundation in 2021 halved the losses, physiological for the first years, compared to the budget; it has acquired, and is acquiring by 2022, sponsors for 280 million and has secured, of the 500 million that the International Olympic Committee provides, “130 million dollars without interest”. Vincenzo Novari, CEO of the organization responsible for the organization, promotion and communication of the 2026 Winter Olympics, explains this to Sole 24 Ore.

Commercial agreements for about 50 million euros have already been signed, “another four are ready to be signed in September – says Novari -. Then there are other negotiations underway, which will lead us to reach a total value of 280 million by 2022; a in front of a target of 575 million for 2026. In short, by the end of this year we will already be at 50% of the target. Paris, two years after the start of the Olympics, has just reached 65% of sponsorships “.

The Foundation’s 2020 ended with a loss of approximately 6.8 million euros compared to the 9.4 estimated in the candidacy. Then 2021 saw a substantial halving of the loss (-25.6 million versus -49.6 million in the budget) and the trend was also confirmed in the first six months of 2022.

Net financial debt is contained, 29.9 million in 2022, better than the -33.2 forecast. “Finally, the agreement with Rai for the Sanremo Festival is relevant – concludes Novari – At the kermesse in 2021 the emblem of the Games was chosen, in ’22 the anthem, in ’23 the mascot will be chosen, in ‘ 24 the torch and in ’25 the medals “. (HANDLE).

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Source: Ansa

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