World Youth Day costs near $100 million

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Horse Trading Finished

New $40 million compensation package calms racetrack owners

Comments: 2

Message of the Holy Father Benedict XVI to the Young People of the World on the Occasion of the XXIII World Youth Day, 2008
Holy Mass for the 23rd World Youth Day at Randwick Racecourse in Sydney
To the beloved people of Australia and to the young pilgrims taking part in World Youth Day 2008
Meeting with benefactors and organizers of the 23rd World Youth Day at the Reception Hall of Cathedral House and in the Chapter Hall of St. Mary's Cathedral

Sydney, Australia, Nov 16, 2007 / 11:17 am (CNA).- A $40 million taxpayer-funded compensation package to the horseracing industry has pushed the costs of Sydney's upcoming World Youth Day close to $100 million, The Australian reports.

The agreement confirms Randwick racecourse as the site of World Youth Day’s overnight vigil and Papal Mass.

Negotiations with Randwick trainers and horse owners over lost race revenues, the stabling of horses, and the necessity of renovating the site for the event were quite heated over the last several months.

However, Racing NSW chief executive Peter V'landys said the anger had subsided and the vice-president of the NSW Trainers Association, John O'Shea, described the result as "acceptable".

"The best result for us was always that World Youth Day was not going to be held at Randwick," Mr O'Shea said.

The costs will cover the relocation of some 700 horses to other racetracks and the refurbishment of the site after World Youth Day ends.

The Archdiocese of Sydney is paying between $15 and $20 million towards the event, while funds from corporate partners and pilgrims will also help defray the costs. The federal government is paying $55 million for the event, while the state government is dedicating $20 million.

Australian government officials hope for $150 million in economic benefits from the event, which may attract 100,000 foreign visitors.

World Youth Day events will begin July 15. As many as 500,000 people are expected for the Papal Mass.

Comments: 2

Subscriber comments:

Published by: Dan in Calgary
Calgary Alberta Canada 11/19/2007 07:49 PM EST

Are you kidding me? For $40 million, there was no way to find a suitable alternative venue for WYD? This strikes me as a tad inflexible. What is so special about Randwick that WYD organisers couldn't take Australian taxpayers off the hook for this $40 million by being a bit more flexible?

As much as I laud the idea of WYD, I pray that (i) Randwick truly is that critical as a site to the success of WYD; (ii) Australian taxpayers don't mind this ticket and (iii) the $40 million was not going to be spent by the government on something equally or more important.

Dan in Calgary

Published by: Stephen
San José, Costa Rica 11/16/2007 11:55 AM EST

I wonder what the profit will be?

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