Geneva Motor Show Organizers Want $15.9 Million For The Event – Deal With Palexpo Looks Unlikely

Earlier this week, the organizers of the Geneva Motor Present threw in the towel as they canceled the 2021 occasion and introduced their need to promote the rights to the present to the Palexpo exhibition middle the place it’s held.

The information was a bit shocking because the Canton of Geneva agreed to provide organizers a mortgage of 16.eight million Swiss francs ($17.7 / £14.2 / €15.eight million) to assist offset the roughly 11 million Swiss francs ($11.6 / £9.3 / €10.Three million) in losses brought on by the last minute cancellation of this year’s show.

Nevertheless, the mortgage got here with various circumstances together with the internet hosting of a 2021 Geneva Motor Present and the reimbursement of 1 million Swiss francs ($1 million / £848okay / €941okay) as early as June 2021. The organizers couldn’t reside with these calls for and rejected the mortgage, whereas additionally noting a majority of exhibitors stated they might “most likely not take part in a 2021 version” of the annual motoring present.

Additionally Learn: Geneva Motor Show Organizers Put Show Up For Sale And Cancel 2021 Event

That call threw the way forward for the Geneva Motor Present into query and now we’re studying extra about it as Auto News Europe talked to the director of the Palexpo exhibition middle. He famous organizers need 15 million Swiss francs ($15.9 / £12.7 / €14.1) for the rights to the present.

Director Basic Claude Membrez stated Monday “was the primary time we heard the quantity and the quantity is large!” He went on to downplay the opportunity of buying the rights as he stated a present wouldn’t happen in 2021 and future occasions would seemingly turn into smaller as auto shows are declining in popularity.

That doesn’t sound promising, however Membrez stated the choice can be made by the Palexpo board and he expects they’ll meet within the subsequent two weeks to debate the difficulty.  No matter whether or not or not they purchase the rights to the Geneva Motor Show, Palexpo nonetheless desires an auto present to be held in 2021 as they imagine even a small present is healthier than none in any respect.

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