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+--- Thread: Some figures at last (/showthread.php?tid=7650)
Some figures at last - Don Simons - 22-01-2009
Over the years there has been much speculation, myself included, on how much the TT costs and how much it makes. Well there are now some figures published:
http://www.iomtoday.co.im/news/Isle-of-Man-TT-and.4901970.jp
The Cost
The budget- 2008 budget £3,026,400
The actual exenditure 2008 = £3,722,900
That is 23% over budget.
The Income
Tens of £ MILLIONS
Quoted by Mr Quayle:
"We must take into account the economic benefit of the TT and MGP – tens of millions of pounds are brought in by motorsport events every year."
The bottom line
A massive profit for the Isle of Man
Let us hope that this puts to rest the lack of transparency that has existed on this subject in the past. Although the newspapers as usual prefer to dwell on the negatives, like the budget overrun, the positive is that the TT is a huge earner for the IOM which they get for the bargain price of under £4 million.
Please correct me if I have read this article wrongly. It is also most confusing that the cost of bus fuel is included an article headlined on the TT and MGP?
RE: Some figures at last - orange - 22-01-2009
Lets hope the steam packet take note of these figures and lower the prices
RE: Some figures at last - DCLUCIE - 26-01-2009
What those figures do not include is the fact of the increase in costs of safety after the Michael Moyles fiasco. So what must also be realised is a huge one off cost included in the overspend, and also that it does not include any figures for income gained by business during that period.
RE: Some figures at last - Don Simons - 26-01-2009
DCLUCIE,Respectfully I beg to differ.Mr Quayle's statements are quite clear.
Those figures do include the fact of the increase in costs of safety.
"He said the estimated overspend was 'directly due to extra expenditure arising in respect of extra costs as a result of the coroner's verdict following the tragic accidents of the centenary TT'."
The figures do include the income gained by business during that period. Mr Qualyle said:
"tens of millions of pounds are brought in by motorsport events every year."
RE: Some figures at last - DCLUCIE - 26-01-2009
Thtas what i ment Don, it doesn't include the fact of one off fees or charges as a direct of Mr Moyles is included in those figures. My point being that without this one off fee, there may have been no overspend at all.
RE: Some figures at last - Don Simons - 14-05-2009
Just read in the 1930 Isle of Man Examiner that the budget for the TT in 1931 passed by the Tynwald was 5000 Pounds.
Using Average Weekly Earinings as an index that would be 946,780 Pounds in 2007 money. So that is pretty close to the equivalent of a million in those days which gives us some idea of its worth to the Island's economy then.
With the spectre of even more legislation against tax havens, great entry list this year and Rossi, the 'good old days' might be coming back!