(ATR) Boston 2024 wants a more lucrative sponsor program than Tokyo 2020.
In their revised bid plan, Boston 2024 hopes to raise $1.52 billion in corporate sponsorship, larger than the $1.3 billion Tokyo 2020 pledged to raise. It would be the largest projected sponsorship drive ever for a Summer Olympics.
"It will be tough and certainly not the slam-dunk they portray," David D’Alessandro, former chief executive of John Hancock Financial Services, said to the Boston Globe.
"Everything has to go right, including no recession at the wrong time."
In the current climate, Tokyo had little problem reaching, and possibly surpassing, their sponsorship target. The organizing committee’s drive was considered "unheard of" by former IOC marketing executive Michael Payne.
"I think $1.5 billion is a conservative estimate," Delpy Neirotti, a professor of sports management at George Washington University, told the Boston Globe.
"We have large businesses here, and we have a large economy and an economy with disposable income."
In addition to the $1.52 billion in sponsorships, Boston 2024 will rely on licensing and ticket sales to raise a total of $3.3 billion to pay for the cost of building Olympic infrastructure. Boston 2024 in their new bid plans says no public money will be used to finance construction for the Olympics.
Temporary Lanes Won’t Ruin Commutes
Boston 2024 says that impact to rush-hour drivers in the city will be minimized from the use of Olympic lanes.
To ensure that athletes, officials, and sponsors can make it to events with ease, the IOC encourages bids to implement special lanes of traffic for Olympic use only. Olympic lanes have been in use for host cities since the 2000 Games in Sydney.
"Our goal would be to ensure that rush hour is least impacted as possible," Richard A. Davey, chief executive of Boston 2024, said to the Boston Globe.
"There is some flexibility in how we schedule events, for example. We’ll look at that."
The organizing committee confirmed that Olympic lanes would not extend from Boston to events in suburban towns such as New Bedford, Worcester, or Billerica, as the organizing committee plans to use accommodation in each location for athletes and officials.
"It’s fair to say we’re not going to be busing people on a daily basis from UMass Boston out to Deerfield or down to New Bedford," Davey added.
"I can’t imagine taking a lane on I-90 for 10 VIPs who want to go out to Deerfield on a Saturday. It’s just not happening."
Boston 2024 in Toronto
Boston 2024 chairman Steve Pagliuca and chief operating officer Erin Murphy are in Toronto to observe the Pan American Sport Organization General Assembly and the 2015 Pan American Games.
The bid will not be presenting at the General Assembly due to IOC rules.
Written by Aaron Bauer
20 Years at #1: Your best source of news about the Olympics is AroundTheRings.com, for subscribers only.
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