By Nick Butler
More than PNK K30 million (£7.5 million/$11.5 million/€9.5 million) has been raised through sponsorship with seven months to go until the start of the Port Moresby 2015 Pacific Games, it has been announced.
More than PNK K30 million (£7.5 million/$11.5 million/€9.5 million) has been raised through sponsorship with seven months to go until the start of the Port Moresby 2015 Pacific Games, it has been announced.
In total, 19 organisations comprising of state owned entities and private corporate organisations have signed up, in three different "platinum, gold and silver" sponsorship categories.
Bank of South Pacific is the official sponsor of the Games. with platinum sponsors comprising copper and gold manufacturer Ok Tedi, as well as Telikom, SP Brewery, PNG Power Ltd and Puma Energy.
Others, including Olympic TOP partner Coca-Cola, are among a total of 10 gold sponsors, while car rental company Hertz is a silver sponsor.
This puts organisers in a strong position to reach the total target of K60 million (£15 million/$23 million/€19 million), with this figure including sponsorship as well as other revenue streams.
More than 90 per cent of this has now been raised for what is set to be the biggest international sporting event ever held in Papua New Guinea.
Preparing facilities, such as the tennis and squash venue shown in this impression, will be a key use of sponsorship funds ©Port Moresby 2015
More than 90 per cent of this has now been raised for what is set to be the biggest international sporting event ever held in Papua New Guinea.
Preparing facilities, such as the tennis and squash venue shown in this impression, will be a key use of sponsorship funds ©Port Moresby 2015"Our target has been to raise K60 million, and we are just about to reach that because currently the funds we have secured sits at K55 million," said Port Moresby 2015 chief executive Peter Stewart.
"We are on track and are very confident that we will reach our target to deliver these Games successfully.
"We are humbled by the amount of responses we have received from corporate and State owned organisations to help fund this Games.
"The Government of Papua New Guinea has been very supportive and we want to thank the Prime Minister and his Ministers for backing and for the funds they have made available for the Games.
"The 150 per cent tax deductible bill passed in the last Parliament sitting goes to show that the Government is behind us, because this incentive will go a long way to assist every organisation that has, and will be, generously putting their hand up to support the Games."
The Pacific Games is scheduled for July 4 to 18 next year, with 24 countries set to compete, including, Australia and New Zealand for the first time.
Both will compete in rugby sevens, weightlifting, sailing and taekwondo competitions, while New Zealand will also participate in football.
Contact the writer of this story at [email protected]
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"We are on track and are very confident that we will reach our target to deliver these Games successfully.
"We are humbled by the amount of responses we have received from corporate and State owned organisations to help fund this Games.
"The Government of Papua New Guinea has been very supportive and we want to thank the Prime Minister and his Ministers for backing and for the funds they have made available for the Games.
"The 150 per cent tax deductible bill passed in the last Parliament sitting goes to show that the Government is behind us, because this incentive will go a long way to assist every organisation that has, and will be, generously putting their hand up to support the Games."
The Pacific Games is scheduled for July 4 to 18 next year, with 24 countries set to compete, including, Australia and New Zealand for the first time.
Both will compete in rugby sevens, weightlifting, sailing and taekwondo competitions, while New Zealand will also participate in football.
Contact the writer of this story at [email protected]
Related stories
October 2014: Port Moresby 2015 signs up Daltron as gold sponsor
