Galway’s bid to host another stopover of the Volvo Ocean Race took a huge leap forward this week with the Government’s commitment to offer financial backing. Now the organisers, Let’s Do It Global, are hoping the Galway city and county councils and private business will follow its lead.
The €4 million support package, wrung from the Government after an initial refusal, is expected to provide both the credibility and necessary financial catalyst for which the Volvo decision makers are looking from those bidding to host a stopover.
This week the LDIG organisers, who brought the world’s most prestigious ocean yacht race to Ireland for the first time last year, were both relieved and delighted the Government had finally agreed to cough up sufficient funds to help host the event.
The organisers must now find another €7 million in order to convince the VOR committee that Galway can once again stage this global race that last year attracted a two billion world-wide television audience.
Enda O’Coineen, chairman of LDIG, who along with John Killeen has held marathon negotiations with the Government, says Galway’s chances are now rated 50:50 in heading off the other bidders.
“We are absolutely thrilled with the Government’s decision and we cannot say enough for Failte Ireland’s John Concannon and Minister Eamon O’Cuiv who went to bat for us. They have played a key role, ” said O’Coineen.
“This is the first step in a process. We have put in our tender to host the event again, and the second part is to secure the financial commitment - the Government’s decision will hopefully be the catalyst to get others on board.”
O’Coineen said Galway was facing a showdown with other cities that boasted huge negotiating teams and bigger wallets.
“There are other cities who have been very proactive in securing the rights to host the event - countries with fully-funded racing teams and Government backing. We are a small operation, but we have shown we can do it and our bid is being taken very seriously.”
The Let’s Do It Global organisation now needs to source private sector funding, which O’Coineen said would be divided into different components. This would include the necessary funds to host the event at the Galway docks, and he hoped the local councils would row in behind the event again and provide the required commitment.
“The Government funding gives us, not only financial backing, but the credibility that Ireland is behind the event which is crucial for the Volvo Ocean Race organisers.”
During last year’s May stopover CEO of the Volvo Ocean Race, Knut Frostad, said that of all the ports they had visited around the world in the 2008-09 series, Ireland’s stopover in Galway had by far exceeded all others and was a model to be followed.
Since then the LDIG has campaigned for the race to return, putting in its bid last December which is based on submitting an entry. That will require sailing the Green Dragon, which finished fifth last year, to be reconstructed to meet with the new VOR rules.
Two weeks ago Minister of State with special responsibility for Labour Affairs, Department of Enterprise, Trade and Employment, Dara Calleary, told the Dail in answer to questions from Galway West TD Padraig McCormack that funding was not possible in the current financial circumstances despite general support across departments and agencies for the proposal.
However the LDIG’s persistence, coupled with the intense lobbying from local politicians, has seen a turnaround in the Government’s position. The Government provided €8 million towards Ireland’s entry and stopover last year which was estimated to have delivered €55.8m to the local economy.
The VOR committee is expected to make its decision on both the route and dates for the 2011/12 race next month.
