Formula E coming to Vancouver???

[WarrenC12]

Originally Posted by madog222

Nope, the group was formed late 2018 and haven't done anything else afaik.

The CEO was CEO of Lotus F1 after the private equity firm he worked for bought them.

Another of the directors worked for Formula 1 Canada as an 'operations coordinator'.

Ok, makes more sense now and too bad.

It's weird that they seemed to be ok making the bigger financial payments but couldn't get insurance and other contracts signed.

[Vin]

Why is everyone so upset and disappointed? I thought we should be used to this by now.

I just can't imagine how a City with financial problems can actually host a large international event such as Formula-E, especially without Federal backing. Look ma, the viaducts are still standing, albeit in a crumbling state!

Everything that needs financing has to be borne by the event organizer, and this would come down to the nitty gritty items: not much time for all that to be sorted out before the deadline.

Perhaps have the race relocated to Burnaby instead?

[madog222]

Originally Posted by Vin

Everything that needs financing has to be borne by the event organizer

Yes Vin, that is how life works.

[Vin]

Originally Posted by madog222

Yes Vin, that is how life works.

If life really works this way, Vancouver wouldn't be financially in red in the first place.

Many generous cities with deeper pockets do foot the bills in many areas, especially since hosting such an event can bring in a reported and estimated 60million in revenue for Vancouver. I suppose our City never had the confidence or the kind of guts in this kind of venture.

"Keeping it safe" seems to be the preferred motto of the day since the days of the Winter Olympics. Hence the tag "no fun city" status continues......

With so much financial resource already squandered without any newer ideas of generating revenue, perhaps this is the only way.

[WarrenC12]

Originally Posted by Vin

Why is everyone so upset and disappointed? I thought we should be used to this by now.

I just can't imagine how a City with financial problems can actually host a large international event such as Formula-E, especially without Federal backing. Look ma, the viaducts are still standing, albeit in a crumbling state!

Everything that needs financing has to be borne by the event organizer, and this would come down to the nitty gritty items: not much time for all that to be sorted out before the deadline.

Perhaps have the race relocated to Burnaby instead?

Huh? Did you even read the story? Wait, I can answer that: no.

[Coldrsx]

Octane as I suspected. They ran the Edmonton Indy into the ground with the hopes of moving it to MTL.

---
Director GeneralDirector General
Edmonton IndyEdmonton Indy

Dec 2010 - Nov 2011 · 1 yrDec 2010 - Nov 2011 · 1 yr
Edmonton, Canada AreaEdmonton, Canada Area
Responsible for organizing Edmonton Indy Car event, with Octane Management staff and hired staff from Edmonton, while coordinating with federal, provincial, municipal government entities.

Coordinating with sponsors, media, while managing local staff.

[jollyburger]

A few weeks to do what?



https://twitter.com/Canadianefest/st...703617/photo/1

The idiots on Facebook:

We NEVER should have had to cancel this. It’s not right and that’s all I’m going to say for now. To all our fans and ticket holders, OSS Group is already working on next year’s event. See you all next year.
Thank you for your support.

Merci Chantale. I am devastated. I have no words. After 3 yrs of hard work, and 2 years of pandemic - this was out of our control.

100% these idiots will screw people over that bought tickets.

[Conrad Yablonski]

Originally Posted by jollyburger

A few weeks to do what? 100% these idiots will screw people over that bought tickets.

^ this

[s211]

I have two words for everyone that should help expose what a debacle this event was destined to be: Montreal and promoters.

[jollyburger]

Another Facebook reply from OSS. At this point the city should just refuse to work with them so people can get their money back. They should also release official audited numbers on their actual ticket sales.

Sarah, OSS is working hard on the next steps. Asking you to be a little patient here. The event is not cancelled. It is postponed, and work is already underway for next year's event.

[jollyburger]

If they aren't on the calendar they declare bankruptcy and run for the hills



https://twitter.com/EPrixVancouver/s...432641/photo/1

[Vin]

Originally Posted by WarrenC12

Huh? Did you even read the story? Wait, I can answer that: no.

Speak for yourself, buddy.

https://dailyhive.com/vancouver/form...race-cancelled

City staff will provide Vancouver City Council with recommendations for steps forward on an updated Host City Agreement.

Under the agreement, the City of Vancouver would not see any costs, with OSS Group promising to cover all of its own costs, as well as all city-related costs such as security, logistics, traffic management, and sanitation. Typically, in other cities where the event is held, the race also sees investment from local authorities and/or tourism bureaus. This increased the event’s dependence on both ticket sales and sponsorship.

City council also stipulated OSS Group would be required to install physical legacy infrastructure, specifically electric-battery charging stations for public benefit.

Obviously the organizer couldn't come up with the funds or resources to put all these in place.

Like I said before, just host the event in a more generous city. Ours is just too strapped for cash: simply can't afford anything.

[WarrenC12]

Originally Posted by Vin

Like I said before, just host the event in a more generous city. Ours is just too strapped for cash: simply can't afford anything.

They made the required payments to the city.

[Migrant_Coconut]

Originally Posted by WarrenC12

They made the required payments to the city.

He wants the city to pay the organizers for the privilege of hosting this mismanaged dumpster fire.

[Klazu]

I missed this getting cancelled, I mean, postponed last month. That's too bad and there is no guarantees next year being any different based on their track record. The unauthorized use of local businesses' names as sponsors should be very telling how this circus is built on sand legs.

[jollyburger]

Thank god someone in the media is following up on this.

The promoter of the electric car race and festival that were supposed to happen Canada Day weekend says a decision on whether to refund tickets awaits confirmation of the 2023 ABB Formula E World Championship schedule.

Montreal-based One Stop Strategy (OSS) Group had planned to run Canadian E-Fest around Eastern False Creek June 30-July 2. It was supposed to climax with the Vancouver E-Prix race on a 2.21-kilometre temporary circuit on some of the same streets used from 1990 to 2004 for the Molson Indy Vancouver. Vancouver was one of 10 cities on the Federation Internationale de l’Automobile-sanctioned 16-race, 2022 tour.

Late afternoon on April 21, however, OSS and Vancouver city hall separately announced the 2022 race had been called off. With 70 days to go, OSS had yet to secure its civic permits.

It took a few more days for OSS to say on its website that it would be “communicating with ticket holders to inform their options.”

In an interview, OSS CEO Matthew Carter admitted ticket holders are in limbo until the 2023 schedule is decided by June.

“Our preferred way forward would obviously be for the tickets to be valid for next year,” Carter said. “But right now, as I say, we're waiting for Formula E to confirm the date for next year.”


OSS said 33,000 Canadian E-Fest tickets had been sold, but Carter said he did not have a breakdown of how many were fully paid. He said capacity was 50,000 on each of the two race days — half reserved, half general admission – and that the majority of tickets were expected to move in the month before the race.

Canadian E-Fest was marketed as a change-making sports, business and arts event. The weekend was also to include a concert by Nickelback and a business conference headlined by environmental activist and consumer advocate Erin Brockovich and former Mexican president Felipe Calderon.

The latter was supposed to be organized by Globe Series, but the head of event partnerships, Caroline Vanasse, told clients in an April 20 email that OSS breached its contract. Vanasse said her organization wanted to be involved in 2023, if “new leaders are put in.”

According to Carter, “that’s been resolved.”

“We're looking now to see which partner we'll be using for the business conference for next year,” he said. “My discussions with Globe have been that they are available and amenable to working with us for next year. So I think that the email that was sent out was sent out at a time when things were not necessarily finalized as they are now. Maybe it was a bit hasty.”

Vanasse did not respond for comment.

The racecourse map includes the same Concord Pacific site used for Cirque du Soleil, but an executive with the developer said there was no agreement with OSS.

“We did not receive any payments or consideration from OSS,” said director of corporate relations Peter Udzenija.

Just over three months before the race, and without civic permits, OSS was trying to sell ticket and exhibitor packages, according to a 26-page PowerPoint presentation marked confidential.

The Canadian E-Fest Vancouver E-Prix 2022 Partnership/Exhibit/Test Drive/Hospitality Opportunities document was created on March 22 by OSS co-owner Philip Smirnow. It advertised 10-foot-by-10-foot exhibitor spaces for $2,500 to $5,000, $12,500 for two parking spaces and a 10-foot-by-10-foot exhibitor space in the electric vehicle test drive zone between B.C. Place Stadium and the Plaza of Nations, and pit lane private hospitality suites for $150,000 and up.

Packages included “on-site experience” and “data collection.”

The brochure claimed Formula E aired in 171 markets in 2021 and the New York City race was beamed to 15.4 million viewers around the world. The promoters boast 72% of race attendees were under age 35. OSS estimated Canadian E-Fest would spur $80 million in spending and 3,000 jobs.

In a recent interview, Prof. Victor Matheson, a sports economist at the College of the Holy Cross in Worcester, Mass., cautioned that his numerous studies found sporting events rarely lived up to the economic hype generated by their organizers.

Montreal Mayor Valerie Plante called the taxpayer-supported 2017 Formula E race a “financial fiasco” and cancelled it when she came to power in a city famous for its Formula 1 race on the former Expo 67 site. Montreal city hall paid $3 million to settle the promoter’s $33 million lawsuit.

Carter, a former CEO of the Lotus Formula 1 race team, said he moved his family to Vancouver late last year and OSS remains committed to staging a race in the city.

“[City of] Vancouver weren't prepared to financially contribute towards it, we still believe that Vancouver is the best place for this race,” he said. “I've seen Vancouver or certainly British Columbia sells more electric cars than any other province or it's certainly right up there. Greenpeace coming from Vancouver and the whole ecological, climate change, drive and push that you can feel in and around Vancouver and along this West Coast. It makes absolute perfect sense for us to come here.”

https://biv.com/article/2022/05/tick...refund-neutral

Likely scenarios

1) OSS will sue the City for something stupid

2) No refunds because they will magically pay themselves out but then have no money left

These idiots came into this knowing the city wasn't that dumb to fund this race but now they are whining about no financial support from the city?

[Vin]

Originally Posted by jollyburger

Thank god someone in the media is following up on this.



https://biv.com/article/2022/05/tick...refund-neutral

Likely scenarios

1) OSS will sue the City for something stupid

2) No refunds because they will magically pay themselves out but then have no money left

These idiots came into this knowing the city wasn't that dumb to fund this race but now they are whining about no financial support from the city?

Do you seriously think OSS knew that Vancouver would not at least partially fund the race, or that they would be demanding extras such as the following?

City council also stipulated OSS Group would be required to install physical legacy infrastructure, specifically electric-battery charging stations for public benefit

Oh yeah, I'm sure everyone in the world knows that this City is seriously strapped for cash, despite having a large number of luxury cars on the streets.



In 2019, Miami-Dade agreed to pay $2.5M for F1 race under the proposed deal. Let's see what the investment brought them:

This is the projection of money to be made by hosting F1 in 2022:
https://www.cnbc.com/2022/05/04/form...e-weekend.html
Based on the past few years, here's the projection:
Event organizers project an economic impact of $400 million to the city of Miami Gardens, where the Hard Rock Stadium and track are located

Vancouver only takes but never gives. I say give the city a skip: totally not worth the trouble.

The trouble with authorities here is that they are so used to being pampered with international funds coming this way, such that they can't invest in anything anymore: and that includes things like social order, human capital, new industries, large scale events, etc. They will invest in things that will buy them votes, though, and that is to make sure this place stays poor, boring, and backward by shushing all the Karens and NIMBYs.

[jollyburger]

Originally Posted by Vin

Do you seriously think OSS knew that Vancouver would not at least partially fund the race, or that they would be demanding extras such as the following?

OSS Group has affirmed there is no required investment by the City to
conceptualize, facilitate and fulfill the three-day event. OSS Group will
also be responsible for the cost of City services including public safety
and traffic management;

These idiots commit to things and can't deliver. It doesn't matter if the city has money the only reason they entertained this stupid idea was because it cost them nothing after these same idiots screwed over Montreal.

The city would pay $2.5 million for Formula 1 because it's actually a world class event that would generate visitors.

[Migrant_Coconut]

They failed to deliver in Montreal, they failed to deliver here. Let somebody else give these scammers a third chance.

[Vin]

Originally Posted by jollyburger

OSS Group has affirmed there is no required investment by the City to
conceptualize, facilitate and fulfill the three-day event. OSS Group will
also be responsible for the cost of City services including public safety
and traffic management;

These idiots commit to things and can't deliver. It doesn't matter if the city has money the only reason they entertained this stupid idea was because it cost them nothing after these same idiots screwed over Montreal.

In that case, you should not fret. It would be a good thing for Vancouver that OSS decided not to carry out the event, right?

Too bad for those who bought the tix though: should've done their own research.

Case closed.