The budget for the Macau Grand Prix this year is around MOP 200 million, around the same as last year, Sports Bureau (ID) President Pun Weng Kun said during a press conference at Macau Tower on Monday.
Pun spoke to reporters about the 63rd Grand Prix after signing an agreement with Suncity Group to sponsor the event again this year. He said this year’s budget was the same as last year’s because the Sports Bureau was determined to keep its expenditure in check.
The Macau Grand Prix will take place from November 17 to 20, 2016.
The junket operator will be the title sponsor of the Macau Grand Prix for the third consecutive year and will pay MOP 20 million to sponsor the event, about 43 per cent up from last year’s MOP 14 million.
Pun said Suncity Group was chosen by public tender. Suncity Chairman Alvin Chau Cheok Wa handed a MOP 20 million cheque to Pun on the sidelines of the press conference.
The Macau Grand Prix this year will be organised by the Sports Bureau for the first time. Previously, the annual event was organised by the Macau Grand Prix Committee.
When asked by the media if the bureau was facing any difficulties as it was organising the event for the first time, Pun said “most of the officials who were responsible for the Macau Grand Prix in the past have been transferred to the Sports Bureau. I am therefore confident that the Macau Grand Prix this year will be a bigger success, based on the solid foundations built previously.” (Macau News/ The Macau Post Daily)