A BAND of local organisations have stumped up £30,000 to help cover the cost of staging the UK Tour Series cycling event in Aberystwyth.
The Cambrian News reported “The event looked doomed after Business Improvement District company Advancing Aberystwyth said it couldn’t provide half of the cost of underwriting the event following a Ceredigion County Council ultimatum.
But it has now been confirmed that other organisations, which have not been named, stepped in to make up the underwriting funding shortfall after Ceredigion council agreed to meet half of the total £60,000 cost and provide support in kind of around £15,000.
The council confirmed that the authority had been in negotiations with several organisations despite learning that Advancing Aberystwyth had rejected the request to fund half of the cost of hosting the stage.
A spokesperson said: “Despite notification that Advancing Aberystwyth would not be supporting the Aberystwyth stage of the Tour Series, the council continued to negotiate with Sweetspot and local organisations.
“The council has confirmed 50 per cent match funding from other local organisations to match a reduced contribution from the council.
“The council is grateful for the support of local organisations to help secure the event. It has been a very successful event and this year’s bigger event with men’s and women’s tour series races, Welsh Circuit Race Championships and local races will provide a major attraction for residents and visitors alike over the Whitsun May Bank Holiday weekend” here.