The UK Government has offered to share the financial risk for Glasgow’s bid to host the Commonwealth games in 2026.
As first reported by the BBC, a letter from the UK Minister for Sports, Stephanie Peacock, to Scottish Health Secretary Neil Gray has shown that the UK Government will make ‘an additional contribution of up to £2.3m’ for the event.
However, the UK Government has denied the Scottish Government’s request for them to underwrite the entire cost of the Games.
According to the letter, Neil Gray told the UK Government last month that Glasgow hosting the Games would be “contingent on the UK government providing a full, uncapped underwrite of financial risk connected to the event".
Ms Peacock stated that the justification for the Scottish Government’s request was unclear, and said it would be preferred if Holyrood could match the figure of £2.3m, which would then help cover increases in security if terror threat levels rise before the games.
According to Ms Peacock’s letter, £27m has already been earmarked as a contingency fund and that an underwrite had not been requested by Commonwealth Games Scotland.
After Victoria, Australia pulled out of hosting the 2026 games, it was agreed that the competition would feature between 10-13 sports, stripping it down from the 18 that took place when Glasgow hosted 10 years ago.
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While John Swinney has previously stated that no public funds would be used on the games, Commonwealth Games Scotland said their proposal wouldn’t involve any “significant ask of public funds”.
However Neil Gray has previously suggested that some of the extra money from the UK Government’s £27m contingency fund could be used to “enhance the concept or ambition of the Games".
In her letter, Ms Peacock said that none of the proposed funding could be used to go towards that.
Mr Gray told BBC Scotland News that he would "leave no stone unturned" to fund the Games but reiterated previous comments that there was both a "reputational risk and a financial risk" to the bid.
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