“The signing of these two contracts that will take us until Paris2024 is the dream come true of a historic increase in the preparation of these two programmes, for a total of 31.2 million euros”, praised the then Deputy Minister of Parliamentary Affairs, Ana Catarina Mendes, when presenting the Olympic and Paralympic program contracts for Paris2024.

On October 14, 2022, after a long impasse, the Government led by António Costa, the Portuguese Olympic Committee (COP) and the Portuguese Institute of Sports and Youth (IPDJ) signed a contract that established an increase of 18.4 percent compared to Tokyo2020 values.

For these Games, postponed by a year due to the Covid-19 pandemic, 18.55 million euros were approved, later increased by four ME due to the postponement.

“For this Olympic cycle, we found financial means to enable a general increase in scholarships for athletes and coaches, an increase in funds for sports preparation, competitions, internships, material support for training, and the continuity of support after the Olympic Games of Paris, with the State guaranteeing that no athlete will be left without support the day after their preparation”, highlighted Ana Catarina Mendes, in a ceremony that took place at the Centro Desportivo Nacional do Jamor, in Oeiras.

That same day, however, the president of the COP, José Manuel Constantino, warned of the impact that the economic situation, namely inflation, could have on this increase.

“I do not hide, nor would it be a serious attitude on the part of the president of the Portuguese Olympic Committee, that, despite the circumstances of having signed a contract that is significantly superior to similar contracts for Olympic preparation programmes, we found a political and economic situation that none of us knows, with certainty, what its destiny will be”, he highlighted.

Increase in costs

Constantino said he feared “that a significant part of the increases seen could, in some matters, be overcome by what will be the increase in costs”.

The same concern was expressed by the president of the Olympic Athletes Commission (CAO), in an interview with Lusa one year before the Games: “We are seeing incredible inflation. The price of everything has increased. Therefore, the increase we had in stock exchanges ended up being somewhat diluted by this inflation that was felt”

Despite praising that “an increase is always good, it is always positive”, Diana Gomes then recognised that, with inflation, “preparations become more expensive, transport becomes more expensive, the food itself, supplementation, everything has increased”.

There were, however, no 'adjustments' to mitigate the effects of inflation, with funds being made available over the last few years, with 4.77 ME having been delivered in 2022, 6.33 in 2023, and 6.10 in 2024, while 4.80 will be made available in 2025.

Portugal will be represented by 73 athletes in Paris2024, which takes place between 26 July and 11 August.