EOC projecting €4m in commercial income from 2019 European Games
By Jonathan Rest
The European Olympic Committees is forecasting commercial revenues from the second edition of the European Games in Minsk, Belarus in 2019 to amount to around €4 million ($4.75 million).
Kikis Lazarides, the EOC treasurer, presented the figure today at the EOC general assembly in Zagreb, Croatia, but cautioned that it is "very provisional."
The €4 million is made up of estimated income from sponsorship, commercial and television rights, with the EOC sharing the revenue equally with the organising committee, but is less than half the €8.16 million that the EOC expects the 2019 European Games to cost.
A total of €3 million will be shared among the 50 EOC member national Olympic committees to help them prepare for the games, while €2.02 million will be distributed to the international federations of the 15 sports included on the programme.
An additional €2 million is budgeted to be spent on "games-related expenditure," and €600,000 on marketing the games.
The cost of putting on the European Games means the EOC will be forced to eat into its reserves, which are projected to be €8.54 million by year-end 2019. At the end of 2016, EOC reserves stood at €14.75 million.
International Sports Broadcasting, the production company headed by Manolo Romero, the man behind the host broadcasting of various Olympic Games, was the host broadcaster of the inaugural European Games in Baku in 2015, and worked with the local organising committee on the sale of TV rights.