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HARD ECONOMIC TIMES have forced some
of the major sponsors
of Crop-Over to the negotiating table
in an effort to cut costs. With figures as high as a quarter-million dollars for some of the top events this season, some sponsors are asking the National Cultural Foundation (NCF) to revisit the numbers. In the booklet Crop-Over '09 Sponsors' Information Guide, the following prices are quoted: $250 000 to be the title sponsor at the diamond event, Cohobblopot; $200 000 for emerald events such as the Cavalcades, Pic-O-De-Crop and Party Monarch competitions; $100 000 for sapphire events such as the Junior Monarch competition, Pan In De Future Tense and Pan Pun De Sand, Back In Time Pan and Schools' Pan Rivalry. Last year the platinum sponsorship went to those who invested $100 000 or more. This year, however, to be a platinum sponsor companies must invest at least $500 000. So far three sponsors have made it clear that they were still committed to the festival and had already decided how much they would be committing this year. LIME_corporate communications manager Sonji Phillips said they were already sponsoring the Cavalcades but had not finalised sponsorship for the other events. "In this economic environment the prices are challenging to meet, so we are in the stages of finalising our negotiations now," she said. Phillips said LIME had to rethink its sponsorship this year, but the company still intended to be part of the festival. "The fact that the company is going through a lot of challenges meant that we had to take a look at what we put in last year, and although we are still going to contribute, I know it's not going to be as much as before," she said. Banks Holdings Limited (BHL) revealed it had already secured co-title sponsorship for three of the major events this year. They are the Super Six Cavalcades, Sweet Ragga Soca competition and the Pic-O-De-Crop competition, two of which are Emerald events. Group public relations manager Sophia Cambridge said the prevailing economic climate had forced them to be more selective and more demanding in terms of what they got from promoters seeking sponsorship. "Our focus is more on the consumption, particularly of our non-alcoholic offerings, rather than just securing title sponsorship of events. "In regard to the NCF, we were assured by the principals there that what was publicly requested was subject to negotiation, taking into consideration a longer-term relationship between our entity and theirs. And after lengthy discussions, a compromised position was reached which we are all happy with," Cambridge said. BHL group marketing manager Bernard Frost said in the BARBADOS BUSINESS AUTHORITY last Monday, said the group was pleased to continue its partnership with the NCF, noting its sponsorship of $200 000 included a cash component, in-kind advertising and product. Andre Thomas, marketing manager at Mount Gay, who has secured the title sponsorship of the Party Monarch, said they remained committed to the development of culture and would be sponsoring several events. He confirmed that the company had a three-year contract with the NCF, so this year's changes in sponsorship would not affect them. NCF chairman Ken Knight agreed that everyone was going through tough economic times, noting that Government subsidised Crop-Over to a certain level and because of the current economic climate, it had reduced its subventions. "The amount for the sponsorship is based on the production costs of every event. The NCF is not a profit-making entity. "Yes, Government invests in Crop-Over, but in the end the festival generates in excess of $75 million to $80 million [for] this economy and therein lies the real problem. "The NCF is the catalyst for this development, but who benefits? It's the country in general, including the sponsors, so somebody has to pay for it, somebody has to invest in making this thing happen. "Government invests through the taxpayers and therefore the sponsors have to invest in order to realise the $80 million," he said. He admitted that although the NCF had not raised the amounts it was hoping for, the sponsors had come forward and it was grateful. |
| Last Updated ( Friday, 19 June 2009 17:25 ) |