Tuesday 20 February 2018

Decision close on funding for Ocean Race

A GOVERNMENT decision on funding a return of the Volvo Ocean Race must be made in the next 10 days.

If the State's support for the event cannot be secured within that time, the organisers believe they will have no option but to drop any bid for the 2014 race and concentrate on 2018 instead.

Irish organisers held a meeting with stakeholders this week to discuss a deficit of €400,000 that is owed to companies and contractors following this year's event.

They say they can't proceed for a bid for 2014 until all obligations from this summer's race are honoured.

But hopes were dampened last week after Tourism Minister Leo Varadkar ruled out providing the same level of funding for a future bid.

Irish Independent

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