Thanks to the power of sports marketing London made a handsome amount from hosting the start of the Tour de France last year. This is from a report carried by the Newslines by SportsBusiness.com. It continues below.
An estimated one million people turned out to watch the start of the Tour de France in London this year and London's economy benefited by more than £120 million.Spectators, teams and race organisers spent an estimated £88 million while media coverage generated a further £35 million, Transport for London (TfL) confirmed as fans flocked to watch the opening ceremony, time trial and stage one on the weekend of 6, 7 and 8 July. Organisers were paid £1.5 million to hold the start in London. Talks have begun to see it return before the 2012 Olympics.
Mayor Ken Livingstone said: "The Tour has generated well over £100 million in spending and publicity, which will in turn attract more visitors and encourage the organisers of future sporting events to choose London."
It makes you see what a small sacrifice from a City can do to help launch it into money-making business. Please City of Nairobi fathers can you visit such guys and see what you can do to raise your revenue sources ? I'll offer free advice to you Mr. Town Clerk.