Alltech FEI World Equestrian Games in Lexington KY
Posted on January 20, 2008
Obviously, anyone thats in the horse industry, or a horse enthusiast, knows that the Alltech FEI World Equestrian Games are going to be held in Lexington KY in 2010 at the Kentucky Horse Park.
The Lexington KY newspaper, The Lexington Herald-Leader, in the January 18 2008 edition had an interesting article that detailed the expect budget considerations for the event. The current projections place the costs at $76.4 million for the World Equestrian Games (WEG). The World Games 2010 Foundation expects that they will raise $77.2 million from various corporate sponsors, ticket sales and other venues. This leaves a balance of a little under $900,000.
Just for reference, the original estimates for the WEG in Lexington KY was expected to cost approximately $56 million – but that estimate used broad figures, and the current report projections are quite detailed. Even so, the detailed report that is currently outlined, are expected to be further revised later this year in the Fall 2008. Some of the addditional figures that need to be detailed include government contributions for funds, as well as state spending for the facilities at the KY Horse Park.
State and government contributions that are currently approved are $36 million for an indoor arena, and $2.4 million in roadway improvements. The general assembly is also considering additional contributions such as $24 million for an outdoor arena and another $10.3 million for roadway improvements – all of which would be finished before the 16 day WEG event.
The World Equestrian Games 2010 Foundation has currently raised approximately 1/3 of the $76.4 million budget projections.
Sponsors should contribute approximately $27.15 million. This figure includes the already paid $10 million that Alltech paid to become the signature sponsor for the WEG event.
Ticket sales are expected to raise $30.6 million. Theres been one round of advance ticket sales to the members of the United States Equestrian Federation members. There is scheduled to be additional ticket sales to several more equestrian groups – including some international organizations. Tickets for the general public will not be available until 2009.
Some additional contributions to the event that are expected to be received include free horseshoeing for the WEG competitors provided by the American Farrier’s Association.
One additional point to note is that the World Equestrian Games Foundation board chairperson, Tandy Patrick, has been replaced by John Long, who is the CEO of the US Equestrian Federation.
All in all, the WEG is on track to become one of the largest horse events in Kentucky, and the world.
» Filed Under Kentucky Horse Events and Clinics, Kentucky Horse Farms and Real Estate Tips, Lexington Kentucky
Comments
Leave a Reply
