During a press briefing at the end of his two-day official visit to Prague, Czech President Petr Pavel declared that the country lacks the financial resources necessary to pursue hosting the Olympic Games, citing current budgetary challenges. His remarks came in response to comments from Sports Minister Boris Šťastný, who previously suggested the possibility of hosting the Winter Olympics in the Czech Republic. Pavel emphasized that given the nation's fiscal situation, the prospect of organizing such a significant event is unfeasible at this time.

Pavel also referred to his discussions with Italian organizers at the current Olympics in Italy, indicating uncertainty around the return on investment for hosting the games. He argued that countries like the Czech Republic, already grappling with budgetary issues, should focus on less ambitious sporting events before setting such lofty goals as hosting the Olympics. This approach opens up discussions about prioritizing smaller events that might be more manageable and realistic under current financial constraints.

In conclusion, Pavel's comments reflect a prudent stance from the Czech government regarding its involvement in global sporting events, suggesting that collaboration with other countries might be necessary for any future endeavors of this scale. The focus now shifts to smaller events that could build the country's reputation and capabilities in hosting international competitions without overextending its financial resources.