No decision has yet been made on whether the city will pursue the 2030 or 2034 Games, with a decision expected after the Beijing 2022 Winter Olympics and Paralympics.

Salt Lake City-Utah Bid Committee President and chief executive Fraser Bullock said the budget has been calculated in 2030 dollars, an estimated 24 per cent inflation on present day figures.

The figure consists of a $1.75 billion (£1.3 billion/€1.5 billion) operational budget for the Games, with a further $200 million (£151 million/€177 million) included as a contingency.

The remaining $250 million (£189 million/€221 million) would be dedicated to legacy projects, Salt Lake City-Utah Bid Committee says.

"This money left behind will perpetuate the great sport we have in the state of Utah," Bullock said.

"That money would be primarily directed to the Utah Olympic Legacy Foundation and Utah Sports Commission to run our venues as well or better than they have ever been run before, to continue to host events.

"We are the state of sport and that would ensure we continue to a higher level to become a winter sports capital of the world.

"With that legacy funding we can do something special for our communities, for the kids who want to skate or ski, but also for elite athletes around the world who want to gather and compete and train."

Bullock added that 13,000 hotel rooms have been secured in principle for the Games in either 2030 or 2034, with agreements provisionally in place with competition venues which would be used.

The media briefing followed a Strategic Board and a Governing Board meeting today for the Bid Committee.

The meetings were held at the Rice-Eccles Stadium, which hosted the Salt Lake City 2002 Opening and Closing Ceremony.

United States Olympic and Paralympic Committee (USOPC) chief executive Sarah Hirshland was among the participants at the meeting, with the organisation expected to determine whether the bid will focus on 2030 or 2034.

Bullock said there re several issues involving the potential for back-to-back Olympics and Paralympics in the United States, with Los Angeles preparing to host the Summer Games in 2028.

"We have made great progress, we have more to go," said Bullock.

"We will see if we can work through issues in the first half of next year to determine which Games would be best.

"It is not just convincing the IOC (International Olympic Committee), but making sure all of us are absolutely convinced that back-to-back Games would not only be successful but would thrive.

"We need to convince ourselves first by completing the technical work, then naturally it would flow to the IOC if that is the conclusion."

Committee chair Catherine Raney Norman, a four-time Winter Olympian in speed skating, suggested the upcoming 20^th anniversary of the 2002 Salt Lake City Winter Olympics and Paralympics could help their bid.

"We have quite a few celebrations planned in February, which gives us the opportunity to share our legacy and put it on display," Raney-Norman said.

"I think this is an opportunity to showcase to the IOC that the Games were not just 17 days in 2002, but something we have continued on for 20 years."

Salt Lake City is one of several potential candidates for the Winter Olympics.

Japan, Spain, Ukraine and Canada are among the other countries interested in hosting the edition of the Winter Olympics.