Posted by: EgbertFly on Mar 09, 2010
In a news article on TV 2 news last night an announcement wa made that the Gauteng Provincial Government (GPG) was cancelling all its sponsorship agreements with sponsors for Kyalami racetrack.
If I am not mistaken, the cost is in the hundreds of millions of rands that the GPG will have to fork out with absolutely no return on this investment.
The result of this decision is that events such as the World Superbike (SBK), are going to be held for the last time in Gauteng. Events such as Formula One and A1 won’t be held here at all. This is a sad thing.
Huge savings as a result of the decision were claimed.
Whilst the above is all fine and well, and I am sure that the bean counters have justified all of the figures, what about all the fringe industries that will be suffering because of this financial decision? Has that been considered?
Or is it a result of the fact that most of the contracts were more in the favour of the motor sport bodies involved than in the favour of the location hosting the event.
At the end of the day it could be that greed on the part of the event providers has ruined what used to be an excellent weekend.