Galway to miss out on powerboats tourism bonanza

The Venture Cup powerboat race tipped to produce the carnival-like atmosphere of the Volvo Ocean Race has been cancelled at the last minute due to lack of funding, with the loss of an expected 6,000 visitors to the city.

The organisers have admitted they had begun to suffer “acute cash-flow problems” at the end of March.

“Regardless of the funding commitment to the overall event, without positive cash-flow we were being strangled. Right across the month and into May, we actively sought to source solutions,” read the statement.

“Only a week ago we had a potential answer on the table which not only resolved the issue, but secured the event into the future. Unfortunately, this, and other avenues, have failed to materialise and we have reached a point where we can no longer proceed in good faith.

“We can assure you that we left no stone unturned in our attempts to resolve this issue, but we must now act prudently and that means cancelling the event when we are unable to guarantee that we can continue to operate.”

The event which was to have run between London and Monte Carlo was also cancelled at the eleventh hour in 2014 when organisers were unable to get the necessary accreditation with the Royal Yachting Association.

A fleet of up to 25 of the best powerboats from across the world were due in for the stopover on June 14, with 1,000 team members and crew in tow. Two of Britain’s biggest names in offshore powerboat racing, Richard Carr and Steve Curtis, were to compete, with involvement by celebrity adventurer Bear Grylls.

For more on the cancellation, see this week’s Galway City Tribune