The amount of money organizers of Utah’s 2034 Winter Games are counting on raising from private donations to help cover the $4 billion price tag for hosting another Olympics has nearly doubled, to $300 million.
The new amount was disclosed to reporters Monday following a closed-door meeting of the organizing committee board. An earlier public meeting of the larger, advisory steering committee was focused on new assignments.
“We are pleased that we have a $300 million fund raising goal,” Steve Starks, the board’s vice chair and Olympic adviser to Gov. Spencer Cox, said at a media availability. The budget for the 2034 Games released last year called for just over $163 million in donations.
‘Avoid taxing the public’ for the Olympics, organizer says
No local or state taxpayer dollars are included in the budget that was part of Utah’s successful bid. Just like for the 2002 Winter Games in Salt Lake City, the needed revenues are to come from private sources, largely the sale of sponsorships, broadcast rights and tickets.
Starks said organizers are relying on donations “to avoid taxing the public” and called the goal ambitious. “It is a big number. We’re not ready to announce how much we’ve raised to date, but we are off to a good start.”
He said there are already many institutions and foundations that are interested in supporting the Games. Starks is the chief executive officer at the Larry H. Miller Company, which hosted Monday’s meetings at its Sandy offices.
“Utah is known for rallying around great causes and certainly the Olympics coming back and the Paralympics coming back in 2034 is among the greatest of causes and legacy initiatives that our state has,” Starks said, pledging to be “wise stewards over those resources.”
Prohibitions against competing for U.S. sponsors with Los Angeles, the host of the 2028 Summer Games, make meeting that goal critical, Starks said, “because until 2028 we can’t raise any commercial dollars so the donations really helps allow us get to work sooner.”
During that transition period, organizers say they plan to spend less than $28 million.
The increase in the budget for donations is a hedge against financial uncertainty, Starks said, stopping short of saying seeking more revenues was tied to the turbulent impact of President Donald Trump’s tariffs on the economy.
“There will be things that happen that we can’t anticipate. So that $300 million dollar number will give us the ability to weather storms and to accomplish the broader goals of putting on another fiscally responsible Games that leaves a legacy for the future,” he said.
No other revenue sources have been reduced in the budget, Starks said, so if more donations do come in, that would make money available to continue running the venues and developing sports in the state.
More employees, advisers for Utah’s Olympics
There are more people on the 2034 Games payroll. When the organizing committee officially opened for business in March, there were two full-time employees. Now there are four, in addition to a part-time accountant and three working on a contract basis:
- Darren Hughes, vice president of operations and planning, full time
- Catherine Raney Norman, vice president of development and athlete services, full time
- Rachel Alder, donor and community engagement manager, full time
- Lisa Valiant, executive projects manager, full time
- Sammie Trujillo, finance manager, part time
- Tom Kelly, communications lead, contractor
- Justin Tosh, external legal counsel
- Chris Sullivan, international relations adviser
The organizing committee’s new office space, in a building located in downtown Salt Lake City near the Salt Lake City and County Building, is being donated.
Other additions to the effort to organize the 2034 Games revealed Monday included dozens of community, business and political leaders named to advisory roles as members of newly announced committees.
The new faces received a welcome message from Utah House Speaker Mike Schultz, R-Hooper, an honorary vice president of the organizing committee along with Utah Senate President Stuart Adams, R-Layton. Schultz thanked them for their willingness to serve.
“I know there was a lot of time and thought between a lot of stakeholders that went into picking each and every one of you. I know there was broad consensus,” the speaker said, adding, “I‘m excited you guys running the Olympics and representing the state of Utah for 2034.”
Fraser Bullock, the organizing committee’s president and chair, said there are now at least 75 people involved in what is intended to be a “very broad reaching effort.” Bullock said there will be more committees — and more positions to fill — in the future.
Also Monday, organizers said their promised “listening tour” to hear what Utahns want from the state’s second Winter Games will start May 19. Ogden will be the first stop on the initial tour of communities where Olympic events will be held, with more details expected soon.
“We’re trying to really connect around the state with the citizens of Utah,” Bullock said.