The oil-rich nation has offered a lot of money in one “inducement”.
Organizers in London have dreamed of hosting the 2017 IAAF World Championships in Athletics. However, thanks to rival nation Qatar’s recent offer of £5million, the equivalent of all the prize money for the entire championships, these dreams most likely aren’t going to come true.
The money is in the form of an “inducement”. Though it smacks of bribery, it’s apparently not illegal.
Qatar has already been awarded the 2020 World Cup and its capital, Doha, is now officially in the running for the 2020 Summer Olympics.
London has not been able to match Qatar’s offer.
Ed Warner, chairman of UK Athletics confirmed this. ‘It would not be possible for us to find a sponsor to pay the prize money because there is nothing to offer them in return,” he said. “The IAAF already has major corporate sponsors whose names are displayed on athletes’ bibs.”
Warner went on to talk about what, besides money, London can offer were it to host the games. ‘What London offers is the prospect of long-term, renewable funding from major sponsors who will be attracted by the event’s positioning in Western Europe,” he said.
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