Author: simon
Isle of Wight Festival Seek To Renegotiate Agreement: UPDATED
Thursday, 14th May, 2009 at 11:25 am, Isle of Wight
Island-wide, Isle of Wight Council, Isle of Wight Festival
The Isle of Wight Festival is in discussions with the Isle of Wight council to renegotiate their agreement to run the festival on Council land in Newport.
UPDATE1
Proposed terms of new agreement
The promoter, John Giddings is seeking to renegotiate the contract with the IWC.
The core elements are …
- It will run for ten years, with no ability for the IWC to terminate, other than for a breach of the agreement.
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The IWC would receive £50,000/year in place of the current agreement to receive (what we calculate* to be) £57,500/year plus 1.75 percent of ticket sales (excluding VAT and performing rights society fees).
* £230,000 fixed fee over the next four years. Note: The IWC estimate that, “based on past performance of ticket sales, it would not be unreasonable to assume an income of £443,000 over the remaining four years of the agreement.”
- The Promoter would continue to be responsible for reinstating Seaclose Park to its pre-event condition in under six weeks of the event in a normal year. Under what are described as “exceptional conditions,” “two senior football pitches” are usable by 1 October and the rest of the site by the end of December.
- The Promoter would pay an annual bond of £30,000 toward the costs of the reinstating the site.
- If the event doesn’t run for two years in a row the new agreement would be cancelled.
- The Promoter to be responsible for obtaining all statutory licences and consents for the Festival and all matters of health and Safety on the site.
We’re continuing to reading through the details and will report back when we have more.
Image: Auntie P
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The original festival was sold for the amount of the 1st years debt when the council (Wight Leisure) ran the event. £850,000. John Giddings and Solo offered to pay back the debt back over 10 yars in exchange for all future profits.
As normally festivals lose money in the first year of set-up, I think John done rather well out of all us Islanders, yet still manages to have his whinges.
Had the council negotiators had more savvy, they would surely have known this would be an eventual moneyspinner. Perhaps money that could have boosted our local arts or threatened venues.
So, the Isle of Wights potentially top brand was sold off at a great undervalue in my opinion because of more poor council business….Unless of course, someone at the council benefited from such a deal. Surely not? lol
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Concerned, please make up your mind whether you think the Council has done a good or bad thing with the Festival.
Let’s not forget it was the Council that saw the potential of reviving the Festival. Yes they made a loss but did a good deal bringing in Giddings and his Solo organisation. The benefits to the overall and much bigger Isle of Wight brand (something we all still own) has been massive, definitely helping to re-position the Island into 21st century.
However I do think that Giddings is getting greedy, I think many businesses would like the kind of deal he has with the landlord (the Council). I hope the Council stick to the current deal lets not forget that Giddings is not the only festival organiser capable of running a mid sized festival.
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Not sure what you mean Earl…reads like you need to make up your mind. When did I need to make up my mind about the council doing a good job? Just stating whats happened. Why did it take the council 30 yrs to re-introduce? Why would I commend them on a desparate bid for tourism?
I don’t knock John Giddings or his skills, I think the council of the Island sold itself short because it did not have someone capable of making a better deal. Drink some tea mate.
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Concerned- you just seem very negative about the Council and the Festival, calling it ‘desparate’ and even hinting at some dodgy deal! I think the Council has been quite shrewd helping to kick off the new Festival, yes making a loss but at least getting a deal to recover the money and help establish a major yearly boost to the tourism economy.
I do not know how long you have lived here but there has been talk for years of reviving the Festival but vocal opposition from some residents and a little thing called the Isle of Wight Act had always stopped it happening.
Also from hindsight it is very easy to judge past decisions. Maybe you should volunteer your expert services to the current negociations?
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Unfortuneately Earl, the council over the years have left me with a very negative impression, yes. I wouldn’t call myself expert, more victim. Dodgy dealwise….well…I’m not going to discuss anymore on a public forum. Anyone doing some digging can see what happened for themselves.
Who introduced the Isle of Wight act out of interest? The same people that took it away? I’ll see if I bump into John whilst I’m working at the festival and give him a few pointers. Sorry Earl, I admire your optimism, perhaps rose tinted spectacles of the council. Desperate is the word I use to describe again how quick and cheap we were sold off. I prefer what Rob Da Bank has done for the Island personally.
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Then again without the involvement of John Giddings would we have a festival at all, or just another council run disaster
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It’s a fair point, just seems the Island lost out a bit, especially with it’s own venues and perhaps at the re-negotiation table they could factor something of benefit to support threatened local arts and culture.
Then, the Island could enjoy notoriety as a year round tourism spot for music? Non weather related.
Also, anyone with industry music savvy could make a success of an already pre-successful festival.
This is why I’d value the brand ‘Isle of Wight festival’ a lot higher.
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which is why local bands are given severla outlets at the festival…on the mainstage, on the bandstand and in the various venues around the site.
Of course more could be done.
The biggest threat to local arts and culture is from this council, with its sites set on redevelopement of both Shanklin and Ryde Theatres once they can figure a way of doing it…maybe we can ‘give’ Shanklin theatre to John Gidding to do with as he will within a ‘theatre’ context
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There are good outlets for bands if you are in Platform 1 or under 25. Other than that, you’d best be well good/connected to get a spot.
Not sure what the council are doing with the theatres they own. They have obviously neglected them long enough to be the ruin they are now…Maybe in 30 yrs they will revive them or actually put some guttering up. hahah
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if they are not flats
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There’s great potential for tying events to using Island products, in the case of the festival, locally brewed beers or supplied through an island firm rather than sourced from the mainland. Thinking like this would help to maintain local jobs.
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I have never been to the Isle of Wight Festival only because circumstances have prevented it. Not because I didn’t want to! Anyway, whenever the festival is “on” the supermarkets are always heaving with festival goers buying beers etc. Wouldnt it be a good idea if John Giddings could reserect The Ventnor Brewery and get everyone enjoying the real stuff! Use Island Products!!!
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Julie, it’s great that festival goers make use of Island shops to stock up on booze etc, but alcoholic drinks can only be taken onto the campsite. All drinks within the festival site itself are controlled through the promoter. This monopoly currently allows these takings to go straight off the Island. I agree with your sentiments about Ventnor Brewery, but let’s not forget that we have two other Island breweries, Goddards and Yates’.
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The IW festival is GREAT news for the island. I’ve lost count of how many times I’ve heard about it or read about it in national news publications. This event and a few others like it keep us in the public eye.
No-one else was interested in bringing back the festival – except John Giddings Solo. The council should give him what he wants and reap the benefits for the island economy. That we get £50,000 a year in site rent sounds like a very good deal to me.
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David don’t forget to say thanks to the the Island First Council for it’s resurrection.I hope all those Tory coucillors paid for their tickets.
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SORRY for the typo must slow down anybody would think it’s election time.
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My understanding is that prior to John Giddings there was another proposal for the festival from a prominent Island musician and involving the use of Island businesses to maximise return to the Island, but that the Council did not ‘run’ with the idea!
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But of course we are not just talking about the festival when we talk about John Giddings contribution to the Island. There is also the Osbourne House concerts, the bar on Union Street and numerous other small contributions and support for Island companies. The Islands investment in John Giddings is being returned in very many ways
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No.5 I think that’s because the council deal was held by the now partner in the bar in Union St and Osborne House concerts. 3 tents at the festival aswell? Someone did do alright out of it yes.
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yes, an Island business
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No an ex council employee. lol
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so they are not alowed to run a business then if they are ex-employees of someone else?
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Island first! Don’t make me laugh. They made a pigs ear of reviving the festival, like they did most things, Undercliff Drive broke the law too. I still remember they exposed themselves ( ie us)to unlimited losses. We can be grateful they ‘only’ lost £400,000, it could well have been worse.
My guess is some of the IFFY’s will return, Jill, Shirley, John, maybe a few others. Let’s hope their vast previous makes them a half decent opposition.
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David did you write all the scripts for the Agony Aunt letters on the i.o.w. radio you certainly have a talent for making things up.I don’t suppose there’s any chance you could deliver some Lib Dem leaflets in Freshwater for me .Thanks.
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Sorry Nobby, one Wareham is enough on the new council. And it aint gonna be you my old pal. Besides, I’m strictly impartial. How many times have you stood now? Your success rate is terrible, I prefer winners not paper candidates!
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One Wareham will probably prove to be one too many!!!
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