A Court of Auditors report has found many uncertainties and risks remain in the Paris 2024 budget ©Getty Images

The French Court of Auditors has outlined its concerns over organisers’ planned level of expenditure for staging next year’s Olympics in Paris.

A report compiled by the Court of Auditors has discovered that "many uncertainties and risk remain" after examining Paris 2024’s budget, according to a report by French newspaper Le Monde.

The Organising Committee estimate that its operating budget for the Games will rise by 10 per cent to €4.4 billion (£3.8 billion/$4.5 billion), partly due to the impact of inflation.

Expenditure plans remain a concern for the Court of Auditors after finding that it had risen by "two thirds" since proposals were initially set out for a Paris bid in 2017, claiming that it was an "incomprehensible ignorance of the specifications of the IOC [International Olympic Committee] and of the difficultly, if not the impossibility, of questioning it".

The Court of Auditors has stressed the importance of ensuring "a continuous and systematic effort to seek new optimisations" and not to go above the "expenditure ceilings allocated to the COJOP [Paris 2024] directorates".

"If the level of resources retained seems plausible, substantial uncertainties remain, in particular for domestic partnerships," the auditors wrote in the report quoted by Le Monde.

The Paris 2024 Organising Committee has been urged to find
The Paris 2024 Organising Committee has been urged to find "new savings" in a bid to balance the budget ©Getty Images

The Court of Auditors expressed its optimism over discussions between Paris 2024 and Moët Hennessy Louis Vuitton (LVMH) over securing a sponsorship deal.

The luxury goods company could join the group of five premium sponsors for Paris 2024, which include mobile network operator Orange, retailer Carrefour, banking group BPCE, electric utility company EDF, and pharmaceutical group Sanofi.

"We can assume that they should be completed by the summer," said the Court of Auditors on Paris 2024’s talks with LVMH.

TotalEnergies withdrew its sponsorship in 2019, leaving Paris 2024 still looking to replace it and contribute to the sponsorship budget which is estimated at €1.15 billion (£1 billion/$1.2 billion).

The new partner must be willing to pay more than €100 million (£88.5 million/$110 million) and considering LVMH generated a net income of €14.1 billion (£12.5 billion/$15.5 billion) last year it is considered an ideal choice.

The Court of Auditors urged Paris 2024 to consider "new savings and redeployment measures" as well as make new efforts to "optimise site management and reduce service levels" in a bid to secure a balanced budget.

"It is appropriate to keep a substantial proportion, at least €100 million (£86 million/$107 million) at the end of 2023, for unforeseen and unavoidable expenses in the last six months proceeding the Games and during the course of the Games," added the auditors.