Having all but secured Paris hosting rights for the 2024 Olympics‚ France are now pulling out all the stops to stage the 2023 Rugby World Cup.
They are trying to dazzle World Rugby with their significant financial muscle and have secured two guarantees totalling more than 400m Euros (R6.2 billion)‚ well in excess of what the game’s governing body has set as a prerequisite.
The first guarantee‚ as assured by their government‚ totals 171m Euros (R2.6 billion)) for the right to organise the tournament.
The organisers stress that it doesn’t come out of any public finance budget and that they would not be required to make any early payments.
They claim the tournament fee will be more than adequately covered by projected revenue of 477m Euros (R7.49 billion).
Ticket sales alone‚ they forecast‚ will rake in 373m Euros (R5.86 billion).
The second guarantee has been provided by a private bank which will cover the tournament hosting fees which totals 236m Euros (R3.7 billion).
“These two commitments lend even greater credence to the bid put forth by France‚ which presents the most attractive and secure economic offer‚ to the benefit world rugby‚” said Claude Atcher‚ director of the #FRANCE2023 bid.
Bid organisers say these financial commitments gives World Rugby “firm‚ unconditional and irrevocable financial guarantees.”
When their bid book was presented to World Rugby at the end of May‚ SA Rugby said in a press release that hosting the 2023 World Cup would inject R27.2 billion into the local economy.
They then also indicated that the bid was made up of 827-pages and that it weighed 8.2kg but there was no mention of what they’d pay World Rugby.
Ireland‚ who are yet to host the event‚ are also in the running but their ability to sell tickets are limited compared to that of South Africa and France.
Attempts to speak to SA Rugby president Mark Alexander were unsuccessful.
With just over 100 days to go before World Rugby announces their preferred host country‚ the South African government will later on Thursday make an announcement regarding the bid.
by Liam Del Carme — TimesLIVE