The future of the Geneva motor show – one of the highlights of the motoring calendar – is looking in doubt after organisers rejected the terms surrounding a loan.
This year’s show was cancelled as the pandemic began to grip the world and organisers say that cancellation cost them £9.2m.
The Geneva motor show is the largest event in Switzerland, attracting 600,000 visitors and 10,000 media representatives every year.
A loan of 16.8m francs (£14.1m) was offered by the Canton of Geneva to cover the costs of the cancellation and plan for the 2021 event, but the Foundation that organises the event has rejected the loan based on the conditions attached to it.
In a statement, the Foundation thanked the State Council for the draft legislation, but added: ‘Unfortunately, the conditions attached to the loan, which, in particular, aim to completely outsource the show including its conceptualisation to Palexpo SA, are not acceptable to the Foundation.
‘In fact, they are in contradiction to the statutes and especially to the purpose of the foundation formulated more than 100 years ago.’
The Foundation said that because this financial help will not be received, the 2021 show is ‘very uncertain at the moment’.
It added that major exhibitors had instead encouraged it to plan for 2022 instead.
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