Speaking to AFP, the 65-year-old said it would increase exposure for the sport if certain events are moved to the streets.

Coe is already in discussion with the International Olympic Committee (IOC) and Paris 2024 President Tony Estanguet and chief executive Étienne Thobois.

However, he claimed that the project is not as "as advanced" as he hoped.

"I sincerely believe that we must do more to democratise the sport," Coe said.

"It cannot be limited to a handful of people who can afford to buy tickets or who are lucky in a draw.

"We must broaden this base in as far as possible." 

The former Olympic champion pointed out the example of plans for the Opening Ceremony for the Olympic Games in the French capital to justify his thinking.

"I think it's worth it," Coe added.

"I know it poses challenges, in terms of security, costs, but it is completely in line with the IOC's vision to broaden the impact of sport."

Paris 2024 has planned a city-centre Olympic Games Opening Ceremony along the River Seine.

Scheduled to be held on July 26, it is hoped that 600,000 spectators - 10 times the number that would be allowed inside a stadium - could witness the Opening Ceremony in Paris.

"It is an idea very oriented towards popular participation," the two-time Olympic champion said.

"If you're looking at how to get people involved sensibly and with all the right security measures, from the stadium to a place that allows young people in particular to see it, it's worth it."