Brisbane off and running towards $2bn goal for 2032 Olympic Games

Games officials have poached the French executive who raised more than $2bn in commercial revenue for the Paris Olympics. He has a big task ahead of him for Brisbane in eight years time.

From left: Brisbane 2032 CEO Cindy Hook, chief commercial officer Francois-Xavier Bonnaillie and president Andrew Liveris in Paris.

Brisbane 2032 Olympic officials could head to the sponsorship market a year ahead of schedule, as it tries to hit its huge $2bn commercial revenue target.

Under its agreement with the Australian Olympic Committee, Brisbane will gain access to the Olympic brand on January 1 2027, with the AOC receiving a payment in return for signing over the sponsorship rights.

That payment, which is still under negotiation, should reach at least $120m, The Australian understands, though the AOC would have to fund the cost of sending Australian athletes to the Olympics with that income (the team cost for Paris is at least $25m) and funds from other sources such as its own Australian Olympic Foundation.

The AOC will not sign its own sponsors when Brisbane 2032 controls the Olympic commercial deals in Australia.

Though that was slated to begin at the start of 2027, several sources have said the deal could be brought forward 12 months in order to let Brisbane get cracking on finding what will be a huge amount of money from the corporate sector.

Brisbane officials would not comment when asked about the deal.

The 2032 Games organisers announced the appointment of Francois-Xavier Bonnaillie as chief commercial officer for Brisbane in Paris over the weekend Australian time.

Mr Bonnaillie, known as “FX”, has served as the Paris 2024 senior director of partnership and licensing for the last five years, having previously held senior global commercial and marketing roles, including close to 25 years at multinational giant and global Olympic sponsor Proctor and Gamble.

“He’s got an impressive and broad international commercial background and he also has a unique understanding of the commercial market within a games context, and this is a great fit for the huge task we have ahead,” Brisbane 2032 president Andrew Liveris said.

“I’m confident that the success FX has brought to Paris 2024 will be able to be repeated in eight years in Brisbane.”

Mr Bonnaillie will relocate to Brisbane later this year.

When asked how tough the $2bn revenue target was, he joked that the figure was at least in Australian dollars and not the euro currency he has been dealing with for Paris. He also noted that 2024 targets had also seemed ­excessive. “I think there’s a lot of potential (for Brisbane) and I think when I started the role in Paris, everybody thought I was crazy and we will never bring that €1bn (target),” Mr Bonnaillie said.

“At this time now, we are at €1.25bn ($2bn). So yes, it’s not easy. Yes, it’s a challenge. The Brisbane project is way ahead, that’s an advantage to start so early.”

Brisbane 2032 chief executive Cindy Hook said her organising committee had already undertaken significant market and brand research, so Mr Bonnaillie would not “walk in (and find) a blank slate. He’s going to have a whole suite of things to start with.”

She said it was important to strike deals with sponsors that would also supply services and resources to the Games, which could range from transport and cleaning providers to the suppliers of the metals used to make the gold, silver and bronze medals.

“We’re really looking for brands that align with the Olympic movement, and what it stands for. That’s what FX has spent the last five years doing – bringing those brands to life through the Games and hopefully you’re seeing a bit of that here in Paris.”

Asked if there could be Australian versions of French luxury brand LVMH, which has an overt presence in Paris as creative partner and sponsor, Mr Bonnaillie said: “If you take the French example we wanted to demonstrate French craftsmanship and luxury. That’s what we do. Brands in each country are different, each partner is different. And the success is to find the exact element that fits the partner’s strategy.”