#VOLVO OCEAN RACE - Galway will need a strong funding commitment from both the city and the Government if it is to host the Volvo Ocean Race for a third time, according to the organisers of this year's event.
As the Galway Independent reports, John Killeen - president of Let's Do It Global - said that a "different mechanism" of support for the event would be required in future.
"These things have to be underwritten by somebody or sme bigger entity than just a voluntary group," he said. "In terms of funding, that has to be better structured."
Killeen was making reference to the dearth of private sponsorship for the week-long festivities surrounding the arrival of the Volvo Ocean Race fleet that welcomed a "phenomenal number of visitors" to the city, but the cost of which is expected to reach a total of €7 million.
As reported last month on Afloat.ie, Fine Gael Senator Fidelma Healy-Eames called on the people of Galway to help make up the shorthall in support of arts and culture events in the city during the race finale.
As a host port in this year's event, Galway has received an automatic invitation for inclusion in the next race in 2014/2015, with the final decision on port selection to be made by race organisers in December.
Let’s Do It Global CEO Micheline McNamara said financial backing is crucial at the outset of this bid, while chairman Enda O'Coineen emphasised the significant boost to the local economy brought by the VOR stopovers both this year and in 2009.
“The benefit of this isn’t just the short term," said O'Coineen. "This will go on for the next ten years, because it has put Galway and the West of Ireland on the map globally, and it takes a long time for that to filter through."
The Galway Independent has more on the story HERE.
