Utah Had to Think Outside the Box to Win Its Olympic Bid

Utah's campaign to host the 2034 Winter Olympics had to clear a major hurdle first: convincing the International Olympic Committee it could raise enough money to stage the event, especially with other major competitions like the 2026 FIFA World Cup and 2028 Los Angeles Olympics also seeking US sponsorship dollars. The local organizing committee's answer was Podium34, a fundraising drive that aims to bring in $300 million, or about 10% of the projected $2.84 billion operations budget, per the Salt Lake Tribune. Since Utah secured the Olympic bid last summer, more than $200 million in commitments has already been lined up.

"Something like this has never been done by any Games host," said Fraser Bullock, president and executive chair of the 2034 organizing committee. "Not even close." At an event celebrating the initiative, Sarah Hirshland, CEO of the US Olympic and Paralympic Committee, added, per the AP: "We now launch what is the most impressive start to a Games this country, this world has even seen." Unlike many Olympic hosts, Utah's organizers pledge not to use state tax dollars for the Games, aside from venue maintenance that benefits the public.

Instead, Podium34 taps into the state's prominent families and foundations who are able to direct major gifts to Olympic-related causes, from youth sports and athlete mental health to venue upgrades. With corporate sponsorships and broadcast deals locked out until after the 2028 Games, Podium34 is a crucial bridge, providing funds during the next three years and helping the committee take advantage of the long preparation window. Large donors dubbed "captains" get a say in where their money goes, supporting areas that align with both personal and Olympic priorities. The scale of this fundraising is unprecedented compared with the $44 million raised for Salt Lake's 2002 Olympics (about $88 million when adjusted for inflation). Here, a list of all the donors so far.