Salt lake City 2034 Launches Record-Breaking Olympic Fundraising campaign
SALT LAKE CITY - Organizers for the Salt Lake City 2034 Winter Olympics unveiled a major philanthropic initiative Monday, aiming to fund community programs surrounding the Games and marking what they call the largest fundraising effort in Olympic and Paralympic host city history. The campaign,dubbed Podium34,has already secured over $200 million in pledges.
The funds raised will contribute roughly 10% of the projected $2.84 billion operating budget for the Games. Sarah Hirshland, CEO of the U.S. Olympic and Paralympic Committee, hailed the launch as “the most extraordinary start to a Games this country, this world has even seen.”
The declaration addresses previous concerns from Olympic officials regarding Utah’s ability to meet its fundraising targets, notably in light of the U.S. hosting other major sporting events in the near future. Salt Lake City was awarded the 2034 Winter Olympics and Paralympics by the International Olympic Committee in July 2024, making it a two-time host city after successfully holding the Games in 2002. The city was the sole candidate after being granted exclusive negotiating rights, a situation influenced by factors like climate change and escalating operational costs that have limited the number of potential host cities.
Leading the charge are nine of Utah’s wealthiest families and foundations, each committing at least $20 million over the next nine years. These donors have been designated as “founding captains” of the Podium34 project. The funds will be allocated to programs focused on education,youth sports,mental health,arts and culture,and initiatives designed to embody the spirit of the Games.
According to Fraser Bullock, president and executive chair of the Salt Lake City 2034 committee, philanthropic donations are currently the sole revenue source for the organizing committee. “Our only source of revenue is donors,” Bullock stated. “Without you, we would not be in business. We couldn’t start.” the committee is contractually obligated to wait until after the 2028 Olympics in Los Angeles before pursuing other revenue streams, with a total fundraising goal of $300 million.
