People celebrate the winning of the Eurovision Song Contest 2018 by Israel’s Netta Barzilai with her song “Toy” , at Rabin square in Tel Aviv, Israel, May 13, 2018. (photo credit: REUTERS/CORINNA KERN)
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With hours left on the clock, the Finance Ministry and the Israel Public Broadcasting Corporation have reportedly made a deal to keep the Eurovision song contest in Israel.
IPBC, known as KAN, will likely send the 12 million euro security deposit to the European Broadcasting Union by the end of the day.
The Finance Ministry has offered a deal to KAN to allow it to take out a loan to pay for the deposit. According to the terms of the deal, the government will repay the loan in case KAN ends up forfeiting it due to unforeseen circumstances.
On Tuesday afternoon, a KAN spokeswoman said that it has not yet signed any deal.
Funding for the entire competition, which could cost up to 35 million euro – approximately NIS 150 million – is also yet to be decided. KAN’s 2018 budget stood at NIS 747 million.
KAN asked for and received a two-week extension earlier this month to pay the deposit. Since then it has blamed the government for its inability to pay, and said taking a loan could leave it illegally in debt.
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Prince William takes a stroll down Tel Aviv boulevard with Eurovision winner Netta Barzilai, June 26, 2018 (Reuters)
While the host city has not officially been announced, most reports indicate that is likely to be held in Tel Aviv, though Jerusalem is still in the running. The EBU said earlier this year that the host city will be announced by September.
On Monday night, Tel Aviv Mayor Ron Huldai – who is up for reelection in October – posted on Facebook his own offer to save the Eurovision in Israel.
“The Tel Aviv-Jaffa Municipality is willing to absorb the costs of the hall – a central cost in the event,” Huldai wrote. “Maybe this can help those who are digging in their heels instead of finding solutions.”
In response, a KAN spokeswoman said that Huldai’s offer is irrelevant, since the host city is already expected to pay for the arena, and that figure is not included in the production budget.
A report in Ynet indicated on Tuesday that – assuming the Eurovision is held in Tel Aviv – the municipality will agree to shoulder additional costs of the event.
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