Review

Shortly before the last meeting of the FAI Council on the 25th May of last year, a meeting was held at the FAI HQ in Lausanne in order to review the planning, strategy and development of the proposed round the world balloon race, then to be called the Great Balloon Race. This meeting followed the CIA's unanimous decision, at their Thessaloniki meeting in March 2000, to go ahead and to support the Great Balloon Race concept.

Outside consultancy, Mr. David Passmore of Business of Sport Limited, had been contracted by FAI, financed by a generous donation provided by the CIA President of Honour Mr. Jacques W. Soukup, to study the concept, establish a business plan with a critical path for planning purposes, and to research potential sponsoring and venue opportunities for this event.

A project document had been circulated to potential partners, and considerable interest had been shown already at that stage, with the identification of one potential site for the start of the event in late 2002. Also proposed was the establishment of an independent entity bringing together the partners involved and to which the rights to organise the race would be sold.

After the FAI General Conference in Linkoping in September 2000, a Working Group appointed by the FAI President to co-ordinate the planning process and consisting of himself, the CIA President, the FAI Executive Director Finances - Pierre Portmann -, the FAI Secretary General - Max Bishop - together with M. David Passmore, agreed to move forward according to the Executive Summary to the business plan and the critical path as laid out in this document.

Three critical elements had to be put in place before the race could begin to become a reality:

· Secure the commitment of a balloon manufacturer and underwrite the costs of the race,
· Secure the commitment of a preferred location Identify strategic partnership alliances

During a meeting held in Luxembourg on the 13th February this year, the Working Group established that the development strategy is fully in line with the Executive Summary's critical path, that 1st quarter 2001 activities are underway or about to start, and that discussions are now underway with potential partners in order to ascertain levels of interest and commitment to the race from a long term viewpoint. All of the above goals have now been achieved and the development strategy is now being fully activated, the partnership alliance is evolving, and the marketing strategy will crystallise in 2001.

Cost against revenue assumptions remain fairly similar to the original budget submitted with the Executive Summary of the Business Plan, and there are no changes to the original marketing strategy.

FAI/CIA will retain overall control of the event and the title, and our Rules Subcommittee is presently working to establish the race regulations, to be finally approved at the CIA meeting in 2002. It is planned to

• formally announce the race after a site visit and further discussions with authorities and potential investors and sponsors of the venue partner

• confirm the strategic partners,

• secure event operation underwriting,

• complete the consolidated business plan,

• incorporate the Great Around the World Balloon Race company and confirm the shareholders,

• secure NAC collaboration world-wide, and

• start the identification process of potential teams

by the end of this year.

The Great Balloon Race is now becoming a reality with its huge potential for the FAI, CIA and the air sports community.

J.C. Weber
Bern, March 2nd 2001