Outgames posts $4.7 million deficit

Posted By: Tom Hustler

Tue Nov 14, 7:44 PM ET

SUMMARY: Montreal event organizers say they owe US$1.9 million to suppliers and the rest on government loans, and lay blame on the province of Quebec.
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The organizers of the Outgames in Montreal said yesterday that the US$4.7 million deficit they face to repay to government officials and suppliers is not anything they regret.


Marielle Dupre, co-chairwoman of the games with former Olympic swimmer Mark Tewksbury, said the city of Montreal needed an event similar to the Outgames to "position itself in the market," the Montreal Gazette reported Monday.


Dupre said the Outgames owes $1.9 million to its suppliers, with the rest owed to pay back government loans. She blamed the province of Quebec for hindering the organization's efforts to pay the bills.


Instead of directly handing Outgames organizers money, Quebec's government footed the bill for space such as Olympic Stadium and Palais des Congres.


"The small suppliers that helped us will be penalized by this action," Dupre said.


She also criticized Municipal Affairs Minister Nathalie Normandeau for exposing the group's financial problems in the news media. Dupre said there was an agreement not to discuss the operation.


In contrast, Gay Games VII, held in Chicago two weeks earlier, ended with a deficit of roughly $200,000 that organizers expected to cut by liquidating office equipment and promotional items.


A spokesperson for Normandeau told the Gazette that Quebec has relieved the Outgames of a $1.4 million loan to help pay off its other creditors and suppliers. (The Advocate)If you'd like to know more, you can find stories related to Outgames posts $4.7 million deficit.



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