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Super League Triathlon: Grant for 2018 - 2022

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A decision made 2 February 2018:

Decision Reference: MD-E-2018-0007

Decision Summary Title :

Award of grant (up to) £250,000 per annum over a maximum of five years to support the hosting of the Super League Triathlon in Jersey

Date of Decision Summary:

24th January 2018

Decision Summary Author:

 

Director

Decision Summary:

Public or Exempt?

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

N/A

Written Report

Title :

Super League Triathlon (2018 – 2022)

Date of Written Report:

24th January 2018

Written Report Author:

Director

Written Report :

Public or Exempt?

Public

Subject:

Award of grant (up to) £250,000 per annum over a maximum of five years to support the hosting of the Super League Triathlon in Jersey.

Decision(s):

The Minister, having reviewed the impact of the 2017 event, approved the award of a grant of up to £250,000 per annum to Super League Triathlon Jersey Limited to support the hosting of the Super League Triathlon in Jersey between 2018 and 2022.  He further instructed officers to refrain from releasing all or any percentage of the grant until such time as appropriate due diligence had been completed to the satisfaction of the department and a Financial Directions-compliant grant agreement had been signed by both parties.

Reason(s) for Decision:

Having reviewed and considered the direct and indirect impact of the 2017 event, the Minister has negotiated a long term agreement to secure the rights for Jersey to host an annual event from 2018 to 2022. The Super League Triathlon is a global sporting event with both direct and indirect economic benefits. The hosting of the event in September will showcase Jersey as a great place to host events and visit.

Resource Implications:

The grant will be provided from the Departments Revenue Budget, which has sufficient resources to cover the award. There are no further manpower or resource implications.

Action required:

The Minister instructs the Director to issue the Grant Agreement following the completion of due diligence to the Department’s satisfaction.

Signature: Senator L J Farnham

Position:

Minister for Economic Development, Tourism, Sport and Culture

Date Signed:

Date of Decision (If different from Date Signed)

 

Super League Triathlon: Grant for 2018 - 2022

Super League Triathlon Jersey Limited

 

Written Report – Super League Triathlon Jersey Limited

Following the success of the 2017 event supported by a grant from the Tourism Development Fund (TDF) the Minister for Economic Development, Tourism, Sport and Culture has agreed a programme of funding in support of a five year agreement to secure the hosting of an annual Super League Triathlon event in Jersey. The agreement to provide a grant of (up to) £250,000 per year is subject to annual review against performance criteria with a break clause after the 2019 event.

Research undertaken by Visit Jersey Limited provides evidence that the 2017 event made a positive economic benefit for the island. In addition the 2017 event was broadcast to a television audience of 375 million across 147 markets, videos of the event were viewed over 900,000 times on social media, with written PR receiving over 3.5 million online views, showcasing Jersey in a positive light as a place where international events are professionally hosted to new audiences in new markets.     

Visit Jersey Limited’s input has been sought on the benefits and Key Performance Indicators (KPI’s) that feature in the Grant Agreement. Prior to issuing the Grant Agreement, the Department will undertake and complete a comprehensive due diligence exercise to ensure appropriate safeguards to protect public money are in place as well as clear criteria set by Visit Jersey Limited to measure and evaluate the return on investment. Phased release of grant funding will not commence until the department is satisfied both that the organiser is well placed to deliver the event on the specified dates and in the terms and scale described, and also that satisfactory arrangements have been made to deliver associated benefits (e.g. media coverage).  

Subject to the completion of due diligence to the Department’s satisfaction and annual performance against the agreed KPI’s, the Minister for Economic Development, Tourism, Sport and Culture may offer a grant of (up to) £250,000 per annum to secure the hosting of the Super League Triathlon in Jersey until 2022.  

 

 

 

 

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