A Quebec government audit revealed 5.3M (CDN) deficit for the 2006 Outgames on a 15M total budget on November 13, 2006. On December 7, 2006 Montreal Outgames filed for bankruptcy protection. 3.1M of the deficit is loans from the government of Montreal and . 2.2M is due to private companies and individuals. The web site for the Outgames was shut down. The company that runs the web site is listed in the companies due payment.
GLISA issued a statement to its members distancing GLISA from the financial problems in Montreal . The GLISA web site gives no mention of the problems or assistance to the vendors.
Lousie Roy, Director of the Outgames and Outgames Co-President Mark Tewksbury are also both on the GLISA board.
Outgames Director Louise Roy was quoted after the Outgames that the Outgames should have a 200K surplus. This statement was given to the press, even though reports now show that the Canadian government was asked for 1.3M in emergency funding in the weeks preceding the Outgames.
Others in the 1st Outgames organization were making similar statements. "There's no way we're going to lose money," agreed Outgames Press Secretary Pascal Dessureault. "Our budget forecasts a small surplus. Our financial statements are being audited every month by the federal and provincial governments. We're really conscious not to have any deficits at all," he said. Openly gay Olympic gold medalist Mark Tewksbury, the Outgames' co-president, said it is critical that the Montreal games not end up in the hole financially.
It is not clear how such a large debt could not have been known, but the government audit revealed no theft or misappropriation of money. What is clear is Montreal Outgames was aware of the financial problems, but did not want the public to know about the financial problems and hoped the Canadian government would pick up the remaining debt. The government has stated that they will not pay the 2.2M vendor debt as the governments are already owed 3.1 M in loans.
Some of the well known creditors are Martina Navratilova who is owed $20,000. Cirque du Soleil is owed $48,209.30. The Montreal International Marathon is owed $25,902.14. Marketing Signa Inc. is owed $217,872.15.
The grand total is 2.2M to various vendors that supported the Outgames. Outgames bankruptcy protection ends in January and a settlement will be offered to some vendors. Some of the creditors were secured creditors and they will be paid first. Many of the small vendors will likely not be paid.
Sport officials that were promised free hotel stays for officiating games in Montreal , found full charges on their credit cards from the hotel 90 days after Outgames did not pay the hotel bills. The officials signed agreements and were only to pay for incidentals at their hotel.
Links to complete articles in the Canadian newspapers can be found at the following web site: www.sportscomplex.org
Montreal Outgames has not released final debt or payoff information to the public. Most vendors gave up.
Good news from Copenhagen:
GLISA has announced that Outgames 2009 in will go ahead as scheduled and that the city of has offered almost 4M (USD) to the Outgames. Montreal Outgames was given over 7.5M (CND) from Montreal and governments.
Please submit your news event to Team Seattle. email@example.com
Team Seattle - 1122 E Pike St, PMB #515 Seattle,
Web Issues: firstname.lastname@example.org
You can get sports event updates via email if you join our Yahoo Group.