FRANCE98 – English Template

Paris, 13 November 1997

France 98 BUDGET:
Priority given to quality and healthy financial perspectives.

Success with the partnership programme, enthusiasm from the public for ticketing, remarkable marketing success among the companies chosen to participate in France 98 Selections (Prestige Boxes and Seats), but also the desire to place hospitality and celebration at the heart of the success of the World Cup, such are the main themes expressed in the French Organising Committee’s updated budget, approved on 13 November 1997 by the Board of Directors. This new budget stands at 2,421,500,000 FF.

With just seven months remaining until the kick-off to the World Cup, the French Organising Committee confirms that the objective of a balanced budget will be reached, displaying a 23% increase in its budgetary revenue.

Marketing (897 million/+3%) and ticketing receipts (679 million/+13%) are increasing. The receipts from the sale of France 98 Selections (Prestige Boxes and Seats) to companies show the greatest variation (+73%) and represent on the whole 759 million FF in estimated receipts

” This increase in our receipts, which gives concrete expression to the very professional job of the Committee’s teams, should not make us lose sight of the fact that the organisational costs of such a large-scale event remain subject to very important contingencies until its completion “, emphasised Jacques Lambert, Managing Director of the CFO. He added : ” Our responsibility is to remain vigilant and to rigorously monitor expenses until the completion of our mission, in order to avoid any unexpected increases. “

Good sense which is justified, as the heading marked ” expenditures ” in the CFO’s updated budget includes a provision for contingent expenses of 209 million FF, which corresponds to 14% of the amount of expenses that the Committee must still incur during the 1998 fiscal year .

With a variation of 18%, the current expenses (1,977,500,000FF) of this new budget take into account the ” mechanical ” counterparts of the additional receipts, complete assessment of development expenditures for the various sites as well as of new expenditures which illustrate the CFO’s desire to offer quality hospitality service

to all the populations that make up the World Cup (general public, media, volunteers, delegations, partners, etc.).

” As a rule, the Committee has always fixed its projected expenditures according to its level of guaranteed receipts. The variation of our receipts allows us today to devote the necessary means to our aim, which is to achieve the realisation of a World Cup which is worthy of France’s standing in the world and which is also a financial success ” clarified Jacques Lambert.