The Department of Transport has said it is “not in a position” to provide a €300,000 dig-out to Volvo Ocean Race organisers Let’s Do It Global.
In a statement this morning, a spokesperson for the Department slammed recent reports that emergency funding had been agreed for the debt-ridden organisation, saying that “no sanction” had been made for the money.
The spokesperson confirmed that the Department did receive a request for funding shortly after this year’s festival but added that it was “not in a position to allocated additional resources” and Let’s Do It Global had been informed of this.
“The Volvo Ocean Race has already received the single largest grant from Fáilte Ireland for an event in 2012, more than double the funding provided to all other major international events, such as the Tall Ships and Navy v Notre Dame combined,” said the spokesperson.
“The funding was essential for the payment of the port fee to the international organisers of the race to allow the event to be hosted in Galway. The race finale and associated festival and events were managed separately by Let’s Do It Global which entered into contractual agreements with the race organisers and raised funding and sponsorship from a number of public and private sector sources.”