(ATR) The IOC in principle is on board with a plan to have Swiss Olympic and the canton of Valais join the city of Sion in signing the host city contract for the 2026 Winter Games.
The three parties have also received "general agreement" from the IOC on the terms of their respective engagement and responsibilities, according to a statement from the canton of Valais.
Normally the host city is the only one signing the contract but the change does reflect the regional nature of the Swiss bid, which would include the cantons of Vaud, Bern and Fribourg as well as Valais.
Should Sion win the 2026 bid, the organization of the Games would be delegated to an association or limited corporation. This entity, which has yet to be created, would be in charge of organization, financial management and operational aspects of the Games. The public sector would be responsible for security and sustainable infrastructure.
The IOC expects a "credible budget" from the organizers and "accepts that financial guarantees to cover the risk of any deficit are limited", according to the Valais statement. This should help quell the fear of residents that the canton would be left to pay off debts long after the Olympics leaves town.
The Sion 2026 budget includes a federal reserve of 215 million Swiss francs. Thanks to the IOC's "New Norm" bidding process, an additional 200 to 300 million francs in costs will be cut from the original budget. There are also plans to buy insurance to cover any cost overruns up to 300 million francs. The fact that there is very little infrastructure needing to be built should help prevent any surprise cost increases.
Negotiations on the host city contract will not officially begin until the candidature phase of the bidding process. To make it that far, the Sion bid must first win the approval of voters in Valais in a referendum on June 10, survive a potential second national referendum and be passed fit by the IOC in October to enter the candidature phase.
The latest polling in Valais, reported last week, had 46 percent in support of the Sion bid with 47 percent opposed, The remaining seven percent are undecided.
Sion 2026 bid organizers have been holding a series of informational events throughout the canton over the past weeks. They say "several hundred people" are in attendance at each of them.
Should Valais support the bid, the canton would contribute 100 million Swiss francs to the effort. If the voters oppose it, the Sion 2026 bid will be over.
Written by Gerard Farek
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