The State is putting its money where its mouth is, again, for the Milan Cortina Olympics. The last levy is decided in the Council of Ministers. In fact, among the measures against high fuel costs is a rule to reduce the Foundation’s budget hole.
To “guarantee the budget balance of the Milan-Cortina 2026 Foundation, in the year 2026, without prejudice to the expected contributions to be paid by the local authorities involved, a sum equal to 150 million euros is transferred to the same Foundation”. This is foreseen by the decree with the new interventions on the increase in excise duties and the exemption from car and motorbike tax for 2027 which is being examined by today’s Council of Ministers. As we anticipated in Dossier, the net worth of the MiCo Foundation is negative for more than 176.4 million euros, while the debts of the organization – chaired by Giovanni Malagò currently at the center of a storm in the FIGC due to his appointment as president, have instead exceeded one billion euros.
The black hole of the Milan-Cortina Olympics: over a billion in debt on state accounts