Welcome to Yorkshire, organizers of the Grand Depart, was left with £750,000 ($1.14M) worth of "unsold merchandise after the event" and £1M ($1.5M) losses overall, according to the YORKSHIRE EVENING POST. A report by accounting firm KPMG also revealed the WtY's "financial governance arrangements are not as strong as they used to be" as a result of less secure funding and less staff. The confidential report says that WtY tried to "narrow a funding gap" by selling branded merchandise, including Tour de France T-shirts, mugs and pens -- but was left with £750,000 worth of stock. The company also owed €310,000 ($347,000) to Amaury Sports Organisation for a marketing expenditure, "which had not been included" in an underlying £450,000 ($684,000) deficit, as WtY "believed it would be rolled into a new contract." Councils in North Yorkshire have agreed to pay in over £200,000 ($304,000) "to help get the organization back on track," with Richmondshire giving an extra £27,000 ($41,000) on top of its £10,000 ($15,000) membership fee (YORKSHIRE EVENING POST, 9/26).
