Filenews 22 July 2022
The Cyprus Automobile Association characterizes as "absurd" and "criminal" the decision of the Ministry of Finance to reject the proposal to organize the European and International Rally 2022-2025 in Cyprus. At a press conference, the President of the Association, Antonis Michaelides, presented a study by Deloitte according to which the direct and indirect benefit for the Cypriot economy from the organization of the international Rally Cyprus at WRC / ERC level for the 4-year period 2022-2025 adds up to €120.4 million, while the total expenses amount to only €10.6 million.
Mr. Michaelides, raised a series of questions and recounted the chronicle of the soundings for the organization of the international races in Cyprus, the application of the Association for a grant, the meetings with the Ministry of Finance and the rejection by the Ministry of Finance of the proposal of the World Automobile Federation (FIA) for the organization of the Cyprus Rally at WRC / ERC level.
Analyzing the revenues and according to Deloitte data, Mr. Michaelides said that during the 4-year period, it was predicted that the races had 102.3 million viewers abroad, and that the direct benefit to the economy would be €30.5 million and the indirect €89.9 million.
He noted that, despite the refusal of the Ministry of Finance to guarantee the 4-year contract (2022-2025), the FIA's proposal through the WRC Promoter GmbH remains on the table for the three-year period 2023-2025. Therefore, Mr. Michaelides expressed the hope that "the government that will emerge from the elections of next February will judge it more rationally".
Regarding the proposal, it provides for the organization of the Cyprus Rally 2023, at the level of the Middle East (MERC) or European Championship (ERC), and the organization of the 2024 and 2025 races at the level of the World Championship (WRC).
The president of the Association, in response to questions, revealed that this year's Cyprus Rally, which was scheduled for September, will not take place, as a consequence of the refusal of the Ministry of Finance to approve a sponsorship for the event. The national race was postponed for the first time since 1974-75 when it was cancelled as a result of the Turkish invasion, with Mr. Michaelides saying that the FIA has also been informed about it, since the race is part of the Middle Eastern Rally Championship.
Mr. Michaelides revealed that meetings were held with both the chairman of the Finance Committee of the Parliament Christiana Erotokritou and the Vice-President of DISY and former Minister of Finance Harris Georgiades, who both supported the proposal and were willing, in fact, to arrange a meeting at the Presidential Palace on the grounds that the program of the President of the Republic was burdened.
The president of the Association also mentioned that he had a private, informal meeting with the president of DISY Averoff Neophytou, during which Mr. Neophytou, according to the words of Mr. Michaelides, told him that "the minister is unconvinced", which "reinforced the suspicion of the Association for a premeditated negative decision of the Government".
Mr. Michaelides, released the letter of the Ministry of Foreign Affairs dated June 17, 2022, noting that "I cannot fail to notice that the verbal wording of the issue in the minister's letter and the reasons put forward in it as the reason for the rejection of the proposal reach the limits of the devaluation of our intelligence".
