ColumnHong Kong sports fund misers couldn’t bear to spend HK$150m – why will they be any different with HK$500m?
After Mega Events Fund flop, questions are raised about what government’s latest attempt at lifting city’s profile will look like
It wouldn’t spend the HK$150 million allocated to the Mega Events Fund, but now the government expects us to believe things will be different with its latest attempt to raise the city’s international sporting profile.
The fund, characterised by its rigid rules and lack of reason, failed to serve its purpose. Even when it did, organisers had to fight tooth and nail – often for months and even years after an event took place – to get their hands on the money they had been promised. A government spokesperson’s call on Wednesday that it “will work out the details with sports associations as this is a new scheme” did little to instil confidence around the new concept.
Neither does the fact the government couldn’t spend less than half the amount with a far broader scope, although this latest investment has certainly piqued the interest of the city’s corporates.