#VOLVO OCEAN RACE - Galway's application to host a third stopover of the Volvo Ocean Race now looks "unlikely" after Galway City Council announced it is not in a position to underwrite the bid.
As Galway Bay FM reports, event organisers Let's Do It Global said the present not-for-profit structure would have to be changed, noting the success of city or state partnerships in other host ports.
Let's Do It Global CEO Micheline McNamara said the group was still collecting a "significant amount" of outstanding funding from sponsorship for the event, for which the €4 million hosting fee was paid by Fáilte Ireland.
Organisers had difficulty attracting private sponsorship for the stopover, blaming the unfavourable economic climate, and the event relied heavily on voluntary support.
As previously reported on Afloat.ie, the group's president John Killeen said stronger backing from both the city and State as well as a "different mechanism" of support would be required for any future bid.
The Irish Times reports that an economic impact study on this year's race finale is currently being prepared.
Meanwhile, Dáil Deputy Brian Walsh commented that the festival organisers - most of whom are volunteers - have shouldered enough responsibility and that the Government would step in to help, according to the Galway Independent.
The Fine Gael TD for Galway West has pledged to work with Let's Do It Global to ensure the city tables a big for the next edition of the race in 2014-2015.
The Irish Times has much more on the story HERE.
