Police have raided the headquarters of the Paris 2024 Olympics organizing committee in the midst of an investigation concerning claimed misappropriation of public funds and favoritism.

The offices of Solideo, the company responsible for the construction of Olympic sites and venues in the city, were also searched.

'A search is right now under way at the headquarters of the organizing committee,' Paris 2024 said in a statement. 'Paris 2024 is cooperating fully with the investigators to facilitate their inquiries.'

AFP reported that anti-corruption and financial crime investigators and the BRDE, the financial brigade of the Parisian police, conducted the search.

It follows the opening of two preliminary investigations by the national financial prosecutors office which had not previously been made public, according to French newspaper L'Equipe.

The first was launched into suspected embezzlement of public funds, favoritism, and concealment of favoritism in a contract awarded by Paris 2024.

The second came after an audit by the French anti-corruption agency into suspected conflicts of interest and favoritism involving several contracts agreed by Paris 2024 organisers and Solideo.

The agency had cited 'risks affecting probity' and 'conflicts of interests' linked to the Games.

'Imprecise and incomplete' purchase procedures and 'potential situations of conflicts of interests which are not overseen correctly' were among the concerns raised by the body.

The search coincides with a meeting of the International Olympic Committee executive board, which runs from Tuesday until Thursday in Lausanne, Switzerland.

Preparations for next year's Olympics and Paralympics are high on the agenda at the meeting of the ruling body.

'We are aware that there has been a search by police of the Paris 2024 headquarters today,' an IOC spokesperson said.

'We have been informed by Paris 2024, that they are cooperating fully with the authorities in this matter and we would refer you to them for further information.'

The build-up to the Games has been dominated by questions over whether Russian athletes will be able to participate, while there have also been security concerns and transport issues.

The Olympics will be held from July 26 to August 11 with the Paralympic Games taking place from August 28 to September 6.

Nice

Good