The variation of the Masterplan for the Speed Skating headquarters and the 2022 Financial Statements were unanimously approved

The Board of Directors has indicated the Rho-Fiera proposal as the most suitable to accommodate the Speed Skating competition venue. The 2022 Financial Statements are in line with expectations.

The Board of Directors of the Fondazione Milano Cortina 2026 has unanimously approved both the modification of the Masterplan, with the change of the competition venue for the Speed Skating discipline, and the 2022 Financial Statements.
The Board of Directors includes the Italian Government, the Cities of Milan and Cortina d'Ampezzo, the Regions of Lombardy and Veneto and the Autonomous Provinces of Trento and Bolzano, together with the world of Olympic and Paralympic Sport and the Italian permanent members of the IOC.

The variation of the Masterplan 

After careful analysis, considering the characteristics of the two proposed solutions and the reflections that emerged in the last Steering Committee held last week in Rome, the Board of Directors of the Organising Committee unanimously expressed itself in favour of the Fiera Rho project in Milan.

The Milanese proposal, entirely financed by private capital, has highlighted, in addition to the advantage of territorial continuity with the other competition sites in the world of ice - with the exception of curling - a significant and greater concreteness combined with a reduction in operating costs: just think, by way of example, of the logistical issues related to the movement of athletes, federation staff and referees; the costs of room and board and those of a dedicated and detached workforce at the new venue; or, again, the income deriving from the multiple purchase of tickets: thanks to the territorial continuity, fans will be able to enjoy a greater number of matches in the same city.

The competition venue for the speed skating discipline on this occasion will exist only for the duration of the competitions: a sustainable and innovative formula, which will allow Italy to be an example for the next editions of the Games, with a consequent strengthening of the combination of Sport and Olympic Movement.

The collaboration with the ISU 

On the basis of the decision of the Board of Directors, the Fondazione Milano Cortina 2026 will immediately begin a collaboration with the ISU to carry out the project taking into account all the required technical requirements.
Today's vote is the result of an in-depth analysis of all available details of both dossiers. The decision taken today by the Board of Directors, following the indications that emerged from the Control Room, takes into account some fundamental elements: the technical needs of the Organising Committee; the experience of athletes, staff and spectators; the very tight timeframe in which action must be taken; the legacy that the project will leave to the City of Milan.

Approved Financial Statements 

The Board of Directors then unanimously approved the Financial Statements for the year ending 31 December 2022. From a financial point of view, the situation at the end of 2022 turned out to be better than expected. In fact, Net Financial Debt amounted to €9.2 million, a low figure considering the figure for the year 2021. The available liquidity is also better, with which the Fondazione Milano Cortina 2026 is able to cover future cash needs.
The liabilities, inherent in this type of event whose costs are always anticipated compared to revenues, amounted to 54,784,542 euros and are in line with forecasts. This is the result of a careful containment policy that partially covered the lower sponsorship revenue due to the difficult macroeconomic environment.