Try as they might to disguise their failure to broker a Disney deal within the time limit generally understood to have been set for an agreement, government officials were still in strong form on the handover anniversary yesterday.
No matter whose logo was on the notepaper, the fact remains the June 30 deadline would not have been agreed upon if the Government had not expected to be able to announce yesterday that the contract would be signed.
Commissioner for Tourism Mike Rowse, who heads the negotiating team, acknowledged the date was agreed by both sides. The Walt Disney Corporation has been through this process many times, and must have a good idea of how long it takes to conclude such talks.
What we have not been told is whether unexpected complications came up, or whether there are basic points of principle that are still at stake. By mentioning a date at all in his Budget speech, the Financial Secretary opened the administration up to queries if that date was not met. But, in the nature of an on-going negotiation, those queries cannot now be answered in public.
The delay is hardly a catastrophe. The SAR economy does not depend on Disneyland to recover its vitality. The need to attract a theme park is not so great that the Government need feel obliged to cave in to the company's demands and to give away precious assets. Disney is not considering setting up in Hong Kong as an act of charity, and the Government is right to be equally hard-nosed in defending the interests of the SAR.
The SAR has some very strong arguments to make. No other centre in the region offers such a range of infrastructure and such a market in the shape of the mainland. In balancing Hong Kong's attractions against those of mainland contenders, the guaranteed convertibility of its currency gives Hong Kong a trump card. If the delay is simply because the home team is resisting pressure to give way as a condition for getting the theme park, that is to the good. One must wish all strength to Mr Rowse.