The State Government has bailed out the KI Surf Pro event, with State Cabinet approving a package of $400,000 on Monday to pay the event’s debts.
A spokesman for Tourism Minister Gail Gago said all outstanding debts would be paid within seven days.
The assistance package will ensure that creditors, including 16 Kangaroo Island businesses, will be paid.
After a series of emergency meetings last week, Surfing SA had informed the SA Tourism Commission that up to $500,000 remained to be paid from the November surfing event and music festival.
A SurfingSA spokeswoman said on Tuesday that the event’s organisers, chief executive officer Steve Reddy and publicity officer Tim Doman, no longer worked for the organisation after last week’s meetings.
One of the event’s major sponsors, Kangaroo Island Sealink, had agreed to write off debt owed to it and Surfing SA has sought additional funds from the sport’s national governing body, Surfing Australia, to ensure it can meet all of its liabilities.
Read more in this week's Islander.
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