Cash lifeline for Events Company
The threat to the future of the Northern Ireland Events Company has been lifted, it was revealed today.
Stormont minister Angela Smith has agreed to provide additional funding which guarantees showpiece sports events for the next three years.
Secretary of State Paul Murphy and his ministerial team in Belfast had been under huge pressure to think again after proposals to drastically reduce the company’s budget.
But it has now emerged that next year’s had been increased from £1.8m (€2.6m) to £2.2m (€3.2m).
The budget for 2006-2007 is being doubled to £1.6m (€2.3m) and 2007-2008 by £1m (€1.4m) to £1.6m (€2.3m).
Big sporting events, including the North West 200 motorcycle races and the international youth soccer tournament, the Milk Cup, need major funding to keep going.
Even the Events Company, which was set up by the British government in 1997 to promote Northern Ireland’s image, feared it might go out of business.
Chairman Mervyn Elder said today: “It’s a huge relief. We can move forward with plans to deliver what we believe will be an interesting and varied series of events.”
The U19 rugby World Cup and the MTV awards are among events being lined up for 2007.
