Volvo Ocean Race 2015

Lapin

€400 for that thing. :eek:

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Sorry for going OT, but Jesus, €400 for that thing. :eek:

Robbo

Might be a little bit harder to convince the local businesses to support it next time around.

They've left this man short and judging by the comments on the Advertiser Facebook, a few others.

Add to that the standoff that arose between the ambulance company and communications company who threatened to withdraw their services unless they were paid current and historic debts, you don't really have an entity that's sitting on an even keel.

Chicken1

How come the papers or local radio are not doing anything about this, they were tripping over themselves when it was here, now the bills are not being paid and they all stay quite.

Judging by the comments on the Galway Advertiser facebook there are a lot of people that have not received payment. shame on the organisers to book people to do a job then dont pay up.

mikom

Chicken1 wrote: »

How come the papers or local radio are not doing anything about this, they were tripping over themselves when it was here, now the bills are not being paid and they all stay quite.

Let's do them global.

dloob

Chicken1 wrote: »

How come the papers or local radio are not doing anything about this, they were tripping over themselves when it was here, now the bills are not being paid and they all stay quite.

Judging by the comments on the Galway Advertiser facebook there are a lot of people that have not received payment. shame on the organisers to book people to do a job then dont pay up.

The organisers say they are still waiting to receive all the money they were promised too, I imagine people won't be paid until then.

I would have thought they would be prepared this time as last time they also had lots of sponsors who didn't pay up when asked.

Chicken1

Well if there is a problem with money at both ends the chances of this coming back are very remote, if sponsors dont pay and people who were contracted to do work cant get paid who in their right mind would get involved next time.

mikom

Good jaysus..........

Connacht Tribune - Connacht Sentinel - Galway City Tribune


The organisers of the Volvo Ocean Race grand finale in Galway have sought a Government ‘bail-out’ to help pay off the €400,000 they owe up to 60 suppliers, and have admitted Let’s Do It Global may even face a liquidation bid.

emptybladder

It doesn't look good if they need the government to help them pay their bills from this summer (via Twitter):

Enda Cunningham ‏@endacunningham
#Galway VolvoOceanRace organisers seek Govt bailout to help with €400,000 of debts to 60 suppliers. See tomorrow’s City Tribune

Let’s Do It Global boss admits the organisation could be facing liquidation. See #Galway City Tribune tomorrow

Iwannahurl

This caught my eye:

One disgruntled creditor – Alan Collins from ‘Exhibit A Displays’ in Tralee – claims he was told his invoice for almost €10,000 would “go to the bottom of the pile” after he printed up a 25ft wide trailer sign reading: “Shame on you Let’s Do It Global’ and parked it outside the organisers’ offices at the Docks for two days this week.

EDIT: hadn't seen this before I posted:

Robbo wrote: »

Might be a little bit harder to convince the local businesses to support it next time around.

They've left this man short and judging by the comments on the Advertiser Facebook, a few others.

Add to that the standoff that arose between the ambulance company and communications company who threatened to withdraw their services unless they were paid current and historic debts, you don't really have an entity that's sitting on an even keel.

Sponge Bob

This gets even messier when certain late paying sponsors are insisting that certain suppliers are paid in full out of their share of the sponsorship that they have not yet coughed up. It means that suppliers who are not related to a sponsor in some way could get nothing at all which is grossly unfair.

Lets Do are owed around €150-200k from promised sponsorship and owe around €400k

If they get €300k and the sponsors cough up so everyone is paid ( including 2009 arrears in the 10s of €1000's then they may have a few quid left to progress another bid...10s of €1000s only to pay for travel and bidding etc.

This is a hard one and I am not going to point any fingers save to say that I sympathise equally with a lot of the Lets do team and their suppliers both.

I cannot see a 2015 bid after this though, only some reputations being saved.

cfeeneyinterior

You can be sure all the main organisers have all been paid!

Aerohead

It seems very stupid to have had meetings last week looking for finance to bring the Volvo race back to Galway again when this was likely to surface.

Who in their right mind would get involved with them now if they wont pay up for work done, I am sure Volvo wont be to happy to have their name involved in this. I would have thought that the people involved would not have allowed this to happen , who was watching the finances going out when they did not have it in the bank.

Personally thought the South Park and the bridge over the Corrib were not necessary, they should have kept to whole thing close to the docks there is loads of room where the new tanks are and would not have cost as much, I heard the bridge cost 250,000 and then there was the bridge over the dock gates and a large crane there to lift it in and out with the tide, it was there for the duration of the event, that yoke would not have come cheap.

Iwannahurl

Where did all the (expected) money go?

http://www.galwaynews.ie/26627-record-breaking-volvo-race-delivers-%E2%82%AC70m-boost

Robbo

Iwannahurl wrote: »

Where did all the (expected) money go?

http://www.galwaynews.ie/26627-record-breaking-volvo-race-delivers-%E2%82%AC70m-boost

That would be a case for proper journalism, starting with a few (less than the cost of a pint) CRO searches. Follow this up with some Courts Service searching (free) and you'll realise this isn't the first time that liquidation been broached to certain people...

Wompa1

Event organized in Galway turns into a corrupt farce. Well I'll be damned

soundbyte

Iwannahurl wrote: »

Where did all the (expected) money go?

http://www.galwaynews.ie/26627-record-breaking-volvo-race-delivers-%E2%82%AC70m-boost

That's projected revenues for the local and wider economy from the event, and not received by Let's Do It. Big difference in fairness. FWIW I also fail to see how they turned a loss.

Iwannahurl

The link is that it's odd how an event generating massive amounts of revenue for the local economy couldn't be organised in such a way as to help Let's Do It Global break even at least. "€70 million" versus a few hundred thousand?

emptybladder

According to this week's Sentinel, Let's Do it Galway were warned before they even held the race this year that they'd be 600 grand in debt, but went ahead with it anyway.

They said on local radio earlier there's a meeting next week on whether to make a bid for 2015. I can't see it happening after this.

Robbo

Pony up, Publicans is the cry from the CEO of a parking firm where the average pay in 2009 was €91k.

Robbo

There will be no bid for 2014-15.

squonk

Robbo wrote: »

There will be no bid for 2014-15.

Awww , though in fairness I suppose that was to be expected. It was such great craic for the week the summer just gone though. I'll miss it.

Predalien

They're now saying there might be...

http://www.galwaynews.ie/28312-lets-do-it-global-not-ruling-out-2014-bid

ilovesleep

Robbo wrote: »

There will be no bid for 2014-15.

This was reported in the galway independent, front page. I hope they pull something out from their ass and bring it back. Even some sort of fundraising event to pay the 200,000 euro fee to enter or something.

Mannix1888

I thought the Volvo Race was a success with attendances and footfall in local businesses? I'd imagine the pubs/restaurants etc will miss the revenue from the event.

ilovesleep

Was watching videos on youtube today of this years festivities and of the concerts and it really was an amazing, powerful, uplifting week for Galway and it's people.

I hope the Galway organisers pull something off and bring the volvo race back to Galway.

Robbo

Details of some of the creditors have emerged.

In the full article from the Sentinel at the end, John Killeen says that they'd have a hard time resisting a petition to wind the company up.

Chicken1

My God but they are scary amounts of money to be owing to people who gave their services, Guarantee you it will never be back here again looking at that list people wont trust them ever again.

danzdan

You can bet your bottom dollar that the services provided were expensive anyway. A lot of business's were out to make a fast buck that week I can tell you.

beeintheknow

danzdan wrote: »

You can bet your bottom dollar that the services provided were expensive anyway. A lot of business's were out to make a fast buck that week I can tell you.

What's your point? Entering into a contract with someone to provide a service for you at an agreed rate and then not paying them is ok if you later deem the service too expensive?

It's disgusting behaviour. The fact that they owe so much more than they are owed is the most galling part. That is just mismanagement. Pathetic outfit.

danzdan

I agree with you totally about being mismanaged. But I'm sure the costs amounted could have been way cheaper. I bet the prices of services went up 30 percent because it was the Volvo ocean race. And I'm sure a lot of people jumped on the candy train rubbing there hands. Galway will probably never see a VOR again due to mismanagement. If people think its coming back, there only dreaming.