(Bromont) No more for the project of the World Equestrian Games in Bromont. The organizing committee of the event has received a cold shower, because it can not rely on financial support from federal.
The financial commitment of Ottawa is “essential” for the holding of events in Bromont in 2018, reiterated several times the resigning CEO of the organizing committee of the World Equestrian Games (COJEM), Luc Fournier. “When I get to the international request for sponsorship and the government of the country receiving the Games did not commit, everyone stays on guard,” he had said in an interview.
COJEM the leaders had met with the Minister of Sport and the Disabled Carla Qualtrough in March in Ottawa. The organization wanted to have confirmation that the federal contribute “at least” up to Quebec in the Games, or $ 8,750,000. A response to that was expected in early April. The decision finally fell Monday. “The federal government can not support the presentation of the 2018 World Equestrian Games through Sport Canada. The Games have an approximate $ 100 million budget. The financial viability of this project raises concerns because nearly $ 66.6 million of revenue must come from the private sector. To date, the private sector has confirmed no contribution, nor an endorser in case of deficit, “said the newspaper the Press Secretary of the Minister Qualtrough Ashley Michnowski.
The pitfalls are increasing since the countdown to the Equestrian Games was launched two years ago. The riding school project has raised discontent among the population, forcing architects to go back to the drawing board. In addition, private sponsors have hardly ever been to the appointment. Only the Swiss watchmaker Longines, sponsor of the International Equestrian Federation (FEI), granted a little over $ 3 million. For its part, Bromont is committed to contribute up to $ 2 million.
Recall that the event budget is around 80 million for operations. A sum of $ 20 million is expected in capital, including for the construction of a riding school. “With some unexpected, it should be around $ 95 million,” argued Mr. Fournier. He had also resigned in April. “It takes a shock. It goes into the wall with the World Equestrian Games, “he had mentioned to the East Voices. Chairman of the Board François Duffar and three other of its members had also left the ship.
There are nearly a month, the COJEM hired the Special Advisor Susan Burkman to analyze the financial situation of the organization. The conclusion is clear: to keep their heads above water, the committee must find “quickly” 25 million in sponsorships. The deadline was set by the FEI to 15 July. However, the lack of liquidity of COJEM forced its leaders in mid-June to temporarily lay off part of its workforce.
The fact that Ottawa does not financially support the Equestrian Games will he the ultimate barrier? We should have time just Wednesday. Members COJEM Governing Board shall meet during the day to decide whether or not they throw in the towel.