Race promoters get on their bikes

It seems unlikely that the IW Council will see any return on the £350,000 they hoped would provide a £4 million boost to the Island’s economy.

The final stage of the Tour of Britain cycling event, due to be held on the Island in September 2002, was tipped to bring thousands of spectators to the Island, spending money on accommodation, food and leisure activities. However, the death of HM The Queen, on September 9, meant trained police outriders were recalled to the mainland and the event was cancelled at the last minute, after the IW Council had spent more £350,000 and officer time costing around £100,000 on preparations. The organisers, Sweetspot Group, did not have insurance to cover the event, arguing first that it was not available, but later saying it was too expensive.

In January it was suggested that a stage of the 2004 event could be held here, but in August it became clear that Sweetspot had made other arrangements. Council officers said at the time that they had a good relationship with the company and the delay gave them more time to consider their options, adding that it was “inappropriate to request any refunds at this stage”.

Now the possibility of the Island seeing any benefit from the money spent is vanishingly small. Last month the Guardian newspaper reported that British Cycling, which owns the rights to the Tour of Britain, terminated its agreement with Sweetspot to promote the event with immediate effect. British Cycling claims that SweetSpot owes them £700,000 dating back to 2022. The latest accounts for the company, filed in December 2022, show that the company had net assets of just £134,000. This week it was announced that the two founders of the company, Hugh Roberts and Mick Bennett, are retiring. In a statement the company said that various issues, including “local government funding issues” had been challenging in 2023.

A spokesman for the Isle of Wight Council said this week: “We are taking advice on how we might be able to proceed.”

The IW Observer approached Sweetspot for a comment, but received no response by the time we went to press.