The Galway City Tribune has claimed that Ireland's Taoiseach (Prime Minister) Enda Kenny has sanctioned a €360,000 ‘bailout’ for debts left behind by the Volvo Ocean Race stopover in Galway.
Let’s Do It Global, the voluntary group behind the ‘grand finale’ in Galway, had sought Government help to repay debts of up to €400,000. The stopover organisers are owed around €170,000 by debtors, and the accounts are currently being pored over by their auditors.
A recent report from the JE Cairnes School of Business and Economics at NUI Galway estimated that grand finale was worth €60.5 million to Galway, and saw a 50% increase in turnover for city bars and restaurants.
21 December 2012 12:12