Tony Estanguet, the head of the Paris Olympics organizing committee, is under French authorities’ scrutiny regarding his compensation. An annual income of €270,000 ($290,000) and performance-based rewards are at the center of the investigation.
A recent inquiry, led by expert judges specializing in monetary offenses, has commenced to scrutinize the payment structure utilized by Estanguet, who presides over the committee orchestrating the event, as revealed by an anonymous source. According to the latest publicly available financial records, Estanguet currently receives an annual income of €270,000 ($290,000) prior to tax deductions. Additionally, he has the potential to earn performance-based rewards of up to 20 percent. Details revealed by the investigative journal Le Canard Enchaine in October of the preceding year have brought to light that Estanguet leverages his private enterprise to dispatch monthly bills to the organizing committee, as opposed to receiving a conventional remuneration. This strategy seems to be devised to circumvent a restriction on the remuneration imposed on organizations sharing similar philanthropic designation, such as the coordinating committee.
The disclosure of the magistrates' investigation poses a difficult hurdle for Estanguet, as he strives to shift focus towards the planning and arrangements for the upcoming Games planned for July 26 to August 11. Estanguet, an accomplished athlete with three Olympic gold medals in canoeing at the age of 45, has managed to avoid any legal complications that have impacted other individuals within the Paris organizing committee.
The history of the Olympics has been marred by instances of corruption, whether in the awarding of the Games or in the procurement of lucrative construction and service contracts associated with the event.
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