ECONOMY

Badminton venue lease

The Badminton venue at Goudi is the first Olympic venue leased, after yesterday’s completion of the tender, to the joint bid of Michail Adam (ADaM Productions), Giorgos and Panayiotis Georgas (Half Note Jazz Club) and Dimitris Kontogiannis (Allou Fun Park). The 20-year agreement will fetch the state some 20 million euros, though Olympic Properties president Christos Hadziemmanouil noted that the state will also save 1.2 million euros per year as it will not have to pay for maintenance of the installation. The winning consortium has already organized several successful events, some of them at Olympic venues, including the performances of Cats, Holiday On Ice and Tiger Lillies Circus. The company to be created will set up a theater of 2,500 seats investing 6 million euros. Culture Minister Giorgos Voulgarakis said «the Badminton tender has set the standard for speed, thoroughness, transparency and efficiency,» adding that the events held last year brought the state enough money so it did not spend anything in 2005 on Olympic Properties. Hadziemmanouil referred to the progress in the use of eight other venues, with the Galatsi Sports Hall tender going today into the opening of offers. Sierra-Haragionis appears to be the favorite, having presented a 70-million-euro proposal, against a 20-million-euro bid from Hellenic Technodomiki.