Government defers its decision on ocean race stop funding

The Government’s deferral of a decision on whether to back the city’s bid to host a Volvo Ocean Race stopover in 2012 has been greeted with cautious optimism by a Galway West TD.

Fianna Fáil backbencher Frank Fahey TD said that he was “reasonably confident” of success following the move by the Department of Arts, Sport and Tourism to defer making a decision on funding last Friday.

Local public representatives have been putting pressure on Minister Martin Cullen to commit around €6 million to Galway’s bid to host the lucrative stopover, which injected around €55 million into the local economy last Summer.

A decision was due on the matter last Friday but a spokesperson for the Department told the Sentinel that it required further consideration and an announcement is now expected in the coming days.

Deputy Fahey interpreted the deferral with cautious optimism and said that it was vital for the proponents of the bid to obtain guarantees from the private sector and put in place a business plan for the event that would encourage government to provide the necessary backing.

Galway is vying with Lorient, France and Lisbon, Portugal in its bid to become a stopover port in two years’ time. It is understood that Galway is favoured among the race organisers after the success of last year’s stopover but without the necessary central government funding, the bid will collapse.

Some 650,000 people visited the Race Village and Salthill during the festivities last Summer and 1.327 billion viewers tuned in to watch the event on television.