GENEVA (AP) — Switzerland’s federal government said Wednesday it is ready to commit $250 million toward the Alpine nation organizing the 2038 Olympics and Paralympics.
The Swiss project is the only candidate in talks through next year with the International Olympic Committee and this week moved forward with sports venues confirmed across the country in regions where each of the four national languages are spoken.
“Switzerland cannot be beaten, but we can lose the Games if we don’t want them,” bid CEO Frédéric Favre told broadcaster RTS on Wednesday.
Switzerland last hosted the Winter Games in 1948 at St. Moritz, and bid proposals in the last 15 years were stopped when local and regional votes were lost.
A decade ago, public votes on Olympic bids worldwide were routinely lost after Russia reportedly spent $51 billion on projects for the 2014 Sochi Winter Games.
The Swiss organizing committee operating budget is set at 2.2 billion Swiss francs ($2.75 billion) with no construction of new venues, though excluding security costs paid at federal and local government level.
Organizers have said 82% of the budget will come from private funds — including sponsors, ticket and merchandise sales, and the IOC— with a guarantee for a deficit up to 200 million Swiss francs ($250 million).
“We already have some businesses which are ready,” Favre said Wednesday, and could be announced in the next weeks and months.
The Swiss Federal Council, the government’s executive branch, said Wednesday its proposed financial support for 2038 of up to 200 million Swiss francs ($250 million) was less than for previous bids and a national referendum was not needed. The proposal includes 50 million Swiss francs ($62.5 million) to cut costs of public transport tickets for spectators.
The federal government also “will not assume any responsibility for any deficits” arising from Olympic hosting.
Opening a public consultation until March 14 on Olympic funding, the federal council said it “recognizes the considerable opportunities that such an international event offers to sport and society,” including tourism and Switzerland’s image worldwide.
The 2038 plan is to take Alpine skiing to Crans-Montana, sliding sports to St. Moritz’s bobsled track, ice hockey to Zurich, figure skating to the IOC’s home city Lausanne, and speed skating plus curling to Geneva. Paralympics venues would be in Geneva, Lausanne, Lenzerheide and St. Moritz.
Apart from the biggest host cities speaking German or French, the Italian-speaking region of Switzerland should get some ice hockey games at Lugano. The ancient Romansh language is spoken in the Graubünden canton (state) that includes St. Moritz and Lenzerheide, the biathlon venue.
“It’s about creating a genuine national cohesion,” Favre said.
The IOC has set no timetable for a decision on awarding the 2038 Winter Games. It could happen when 100-plus IOC members meet on the eve of the 2028 Los Angeles Olympics.
AP Olympics: https://apnews.com/hub/milan-cortina-2026-winter-olympics
The flags at the Federal Palace fly at half-mast in Bern, Switzerland, for 5 days, Friday Jan. 2, 2026, following the fire at the "Le Constellation" bar and lounge in Crans-Montana, Switzerland during the New Year celebration. (Anthony Anex/Keystone via AP)
Melanie Hasler of Switzerland in action, during the Women's Mono-Bob World Cup, in St. Moritz, Switzerland, Saturday, Jan. 10, 2026. (Mayk Wendt/Keystone via AP)
