Tourism Development Fund: Super League Triathlon in Jersey: Grant

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A decision made 9 August 2017:

Decision Reference: MD-E-2017-0031
Decision Summary Title :	Tourism Development Fund – Approval of (up to) £200,000 to support the hosting of the Super League Triathlon in Jersey		Date of Decision Summary:	28th July 2017
Decision Summary Author:	Assistant Director		Decision Summary: Public or Exempt?	Public
Type of Report: Oral or Written?	Written		Person Giving Oral Report:	N/A
Written Report Title :	Tourism Development Fund – Approval of (up to) £200,000 to support the hosting of the Super League Triathlon in Jersey		Date of Written Report:	28th July 2017
Written Report Author:	Assistant Director		Written Report : Public or Exempt?	Public
Subject: Tourism Development Fund (TDF) – Approval of (up to) £200,000 to support the hosting of the Super League Triathlon in Jersey
Decision(s): The Minister, having received the recommendation of the TDF Advisory Panel and a written report from officers, approved the award of a grant of up to £200,000 to Super League Triathlon Jersey Limited to support the hosting of the Super League Triathlon in Jersey in 2017. 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: The Minister recommended that Super League Triathlon Jersey Limited apply to the TDF for support. The view of the Advisory Panel is that support to secure Jersey as a host venue can be provided. 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 Tourism Development Fund, which has sufficient resources to cover the award. There are no further manpower or resource implications.
Action required: The Minister instructs the Assistant 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)

Tourism Development Fund: Super League Triathlon in Jersey: Grant

Super League Triathlon Jersey Limited

Written Report – TDF Super League Triathlon Jersey

Following a number of meetings and presentations to Ministers and Visit Jersey Limited the Minister provided Super League Triathlon Jersey Limited with a letter indicating he would be supportive in principle of them applying to the Tourism Development Fund to secure financial support for the Super League Triathlon to host an event in Jersey in September 2017. The letter made clear that any support would be conditional upon the completion of further due diligence, a number of safeguards being put in place, and further conditions being satisfied.

The Advisory Panel, at its meeting of 12th July 2017, agreed with the Minister for Economic Development, Tourism, Sport and Culture that, in principle, a grant of £200,000 should be made to Super League Triathlon Jersey Limited. The Advisory Panel’s view was based upon the premise that the grant would be payable on a post-event basis. It was further based on advice from Visit Jersey Limited that the event had the potential to be ‘wonderful for Jersey and to bring 2,000 visitors to the Island in the first year. These visitors would be anticipated to spend approximately £800,000, based on the average spend of £400 per visitor’. It was also noted that ‘as the event was planned for September, it would enhance ‘shoulder month’ tourism and initial feedback received from hoteliers was that they were enthusiastic at the prospect of the Island hosting the event’.

Subsequent discussions with Super League Triathlon Jersey Limited made clear that, as the majority of the cost of staging were incurred pre-event, a phased release of any agreed funds would be necessary. Visit Jersey Limited’s input has been sought on the benefits and Key Performance Indicators (KPI’s) to 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 date 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, the Minister for Economic Development, Tourism, Sport and Culture may offer a grant of up to £200,000 to secure the hosting of the Super League Triathlon in Jersey in September 2017.