Budapest 2024 Backed by Stock Exchange -- Bidding Buildup

(ATR) The Budapest Stock Exchange (BSE) says the city’s 2024 Olympic bid will "foster long-term economic growth".

The BSE submitted a letter of support to the Budapest 2024 candidature on Feb. 1 in an effort to strengthen its bid, saying that using the Games to develop the city and country would be worth "every single forint (Hungarian currency) invested".

If Budapest is awarded the Games, the city would see large-scale development projects in infrastructure and transportation that BSE believes would launch a job creation boom. Other benefits of the Games recognized by the BSE are the national pride felt, more motivation for children to get involved in sports and the bolstering of Hungary’s sports culture and reputation.

"The Budapest Stock Exchange as the key institution of the domestic capital market is committed toward its effective and sustainable development," says chairman of the BSE board of directors Nagy Marton.

"We therefore support the candidature of Budapest to host the 2024 Olympic and Paralympic Games and would be pleased to contribute to its excellence and success for the people of Budapest, of Hungary and the world."

Bach Wraps up L.A. Tour

IOC president Thomas Bach visited Los Angeles on Monday to tour the key venues proposed in the LA 2024 Games Plan, including the newly announced Olympic and Media Villages housed at the campuses of UCLA and USC.

Bach was joined in L.A. by five IOC members including Christophe de Kepper, Marcus Hausen and Mark Adams. The IOC delegation spent the day with LA 2024 and USOC bid leaders including bid chief Casey Wasserman and USOC president Larry Probst. L.A. Mayor Eric Garcetti also helped with the tour of the city.

"We were honored to welcome President Bach and the IOC to Los Angeles," said Garcetti. "Our city has changed considerably since we last hosted the Olympics but our love for the Games remains stronger than ever. If LA has the honor of hosting the 2024 Olympic and Paralympic Games we will create a new games for a new era."

Los Angeles marked the fourth and final bid city the IOC president visited in recent weeks ahead of the first round of bid submissions by the candidates. Los Angeles is competing with Budapest, Paris and Rome to host the 2024 edition of the Games.

"You are a strong candidate and it is a great race of four excellent cities, trying to embrace Olympic Agenda 2020 from very different angles," said Bach. "We now know wherever the Olympic Games take place in 2024 they will be great Games."

On Tuesday, Bach made his way to San Francisco on Tuesday following the conclusion of his meetings with LA 2024 and USOC leaders to meet with leaders in the technology industry. Bach met with Visa and Samsung officials to "see what the future holds in the worlds of sport and technology", Around the Rings understands.

Bach met with Facebook CEO Mark Zuckerberg on Wednesday as well as Twitter CEO Jack Dorsey to discuss ways to further incorporate social media into the Olympic Movement.

Paris 2024 Signs Deal with INSEP

The Paris 2024 bid has signed a partnership agreement with the Paris National Sports Institute of Expertise and Performance (INSEP) to continue its focus on creating an "athlete-centered" bid.

The deal will provide Paris 2024 with assistance mobilizing the sports industry in the country as well as promoting international communication to delegates at the institute. The business intelligence of INSEP will also be utilized by the bid.

"What better partner than for INSEP to get a win," Paris 2024 co-chairman Tony Estanguet told the athletes on hand for the signing. "You are the showcase of French sport and you are in the heart of the application."

The partnership was signed by the institute along with 600 athletes on Tuesday.

Italian Parliament Clears Path for Rome 2024

The Italian Parliament voted by a large majority to support the Rome 2024 Olympic bid on Tuesday, ending any chances for a referendum in the city to strike down the bid.

"The Parliament’s vote is an act of responsibility for the future of the country that wants to seize major challenges and is confident of achieving them with great effort and, above all, keeping in mind the new generations," Rome 2024 said in a statement.

Rome 2024 says the decision "gives to the city and the country an important opportunity for economic redemption and the revival of international image".

"We have the chance to show the world that Italy knows how to achieve its goals and is able, as happened with the 1960 Summer Olympics and more recently with Expo, to host highly successful events in total transparency."

The IOC will choose the host of the Games at the IOC Session in Lima, Peru set for September 2017.

Written by Kevin Nutley

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