Government to examine funding application for Joseph Parker world boxing title fight video
Joseph Parker's promoters insist they are not looking for a handout.
The Joseph Parker world heavyweight boxing bout is borderline for government funding, Economic Development Minister Steven Joyce says.
Fight promoters believe they satisfy the need for a partnership with the Government as they look for ways to finance the WBO title fight against Mexico's Andy Ruiz in Auckland on December 10.
But the promotion is threatened by Duco Events' abilities to generate the money required to put on the fight against an extremely tight deadline.
"We don't generally support events that are already profitable." - Economic Development Minister Steven Joyce on the chances of government funding for the Parker fight.
Duco Events have an application in for a grant with New Zealand Major Events.
Labour spokesman Trevor Mallard has questioned its worth to New Zealand and Joyce on Tuesday highlighted the hurdles it would have to meet.
'We're not looking for a taxpayer hand-out' - promoter on bid for Govt support to hold Joseph Parker fight in NZ
"It's probably on the border for a number of reasons, but we'll have a look at it - they've put an application in and we treat every application fairly," Joyce said.
"Some of the questions would be, what's the opportunity to promote New Zealand, and the sort of leverage of New Zealand, and it's just a short time fame in that respect? It could be tricky."
There would also need to be a clear understanding whether it was going to happen anyway, with or without the funding support, and whether it was planned to be a profit-making event.
"We don't generally support events that are already profitable."
He said the promoters had submitted a budget which officials would look at.
There was no express upper limit for how much the fund would pay out, although there was a budgeted amount each year and it was well allocated for the next year or two, "so there isn't a huge amount sitting there at the moment".
Dean Lonergan of Duco Events told Radio Live they needed a "significant seven-figure amount" to make the fight happen.
Major Events NZ was just one line they are going down, with sponsorship their big ticket. They have three major sponsors (Burger King, TAB and ATEED) lined up and are probably "40-50 per cent" of the way there, Lonergan said.
Joyce said the idea of the fund was to develop and encourage the development of things that would not otherwise happen in New Zealand.
"So for example we have supported bids to bring the Rugby League World Cup here and ... the Fifa under-20 (football) as well as domestic events" including the Winter Games, golf and large regional events.
But it did not fund All Blacks tests because there was a clear understanding they would happen regardless.
The promoters had said they needed a decision in a few weeks. Normally the Government would take a couple of months to assess an application, but it had moved more quickly in a couple of cases, Joyce said.
A major events panel assess the application and makes a recommendation to a group of ministers, including Joyce. Sports Minister Jonathan Coleman and Arts, Culture and Heritage Minister Maggie Barry.
"There are a certain amount of requirements we have to go through. We are not just going to sign out a cheque at the drop of a hat," Joyce said.
Lonergan said earlier on Tuesday that he felt the major events fund was set up "purposely to help an event like this".
"This is a major event, it's a historic event for New Zealand, and it might not otherwise happen here.
"It is going to happen, but it mightn't happen in New Zealand now because of the situation. As I've said, there's a 70 to 80 per cent chance it will go to the United States now unless we can sort something out very quickly.
"We are presenting an opportunity to showcase New Zealand around the world. We see this has a commercial partnership with the government and the country.
"There's a feelgood factor to this as well that shouldn't be underestimated if we can get to stage this fight in New Zealand."
- Stuff
Joseph Parker's promoters insist they are not looking for a handout.
The Joseph Parker world heavyweight boxing bout is borderline for government funding, Economic Development Minister Steven Joyce says.
Fight promoters believe they satisfy the need for a partnership with the Government as they look for ways to finance the WBO title fight against Mexico's Andy Ruiz in Auckland on December 10.
But the promotion is threatened by Duco Events' abilities to generate the money required to put on the fight against an extremely tight deadline.
"We don't generally support events that are already profitable." - Economic Development Minister Steven Joyce on the chances of government funding for the Parker fight.
Duco Events have an application in for a grant with New Zealand Major Events.
Labour spokesman Trevor Mallard has questioned its worth to New Zealand and Joyce on Tuesday highlighted the hurdles it would have to meet.
'We're not looking for a taxpayer hand-out' - promoter on bid for Govt support to hold Joseph Parker fight in NZ
"It's probably on the border for a number of reasons, but we'll have a look at it - they've put an application in and we treat every application fairly," Joyce said.
"Some of the questions would be, what's the opportunity to promote New Zealand, and the sort of leverage of New Zealand, and it's just a short time fame in that respect? It could be tricky."
There would also need to be a clear understanding whether it was going to happen anyway, with or without the funding support, and whether it was planned to be a profit-making event.
"We don't generally support events that are already profitable."
He said the promoters had submitted a budget which officials would look at.
There was no express upper limit for how much the fund would pay out, although there was a budgeted amount each year and it was well allocated for the next year or two, "so there isn't a huge amount sitting there at the moment".
Dean Lonergan of Duco Events told Radio Live they needed a "significant seven-figure amount" to make the fight happen.
Major Events NZ was just one line they are going down, with sponsorship their big ticket. They have three major sponsors (Burger King, TAB and ATEED) lined up and are probably "40-50 per cent" of the way there, Lonergan said.
Joyce said the idea of the fund was to develop and encourage the development of things that would not otherwise happen in New Zealand.
"So for example we have supported bids to bring the Rugby League World Cup here and ... the Fifa under-20 (football) as well as domestic events" including the Winter Games, golf and large regional events.
But it did not fund All Blacks tests because there was a clear understanding they would happen regardless.
The promoters had said they needed a decision in a few weeks. Normally the Government would take a couple of months to assess an application, but it had moved more quickly in a couple of cases, Joyce said.
A major events panel assess the application and makes a recommendation to a group of ministers, including Joyce. Sports Minister Jonathan Coleman and Arts, Culture and Heritage Minister Maggie Barry.
"There are a certain amount of requirements we have to go through. We are not just going to sign out a cheque at the drop of a hat," Joyce said.
Lonergan said earlier on Tuesday that he felt the major events fund was set up "purposely to help an event like this".
"This is a major event, it's a historic event for New Zealand, and it might not otherwise happen here.
"It is going to happen, but it mightn't happen in New Zealand now because of the situation. As I've said, there's a 70 to 80 per cent chance it will go to the United States now unless we can sort something out very quickly.
"We are presenting an opportunity to showcase New Zealand around the world. We see this has a commercial partnership with the government and the country.
"There's a feelgood factor to this as well that shouldn't be underestimated if we can get to stage this fight in New Zealand."
- Stuff