| The Second Agreement! |
| Monday, 06 August 2007 | |
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So, with the sponsorship agreement signed and the payment schedule to be agreed, the commute between London and Doha intensified
When we returned to Qatar after the announcement it was Ramadan and meetings started in the evening sometimes continuing until late into the night. The meetings were difficult and even more frustrating than those which had gone before. I hadn't thought it possible! It was difficult to tell if it was because of Ramadan or if there were real problems with the deal. At times it felt like wading through treacle and instead of being able to get on with organising the event, we found ourselves on the receiving end of belligerent Qatari solicitors and aggressive advisors. On Christmas Eve 2003 we received an e-mail from the solicitor acting for QSI saying the deal was off. We were shocked. I flew to Doha on Boxing Day and went to meet with a solicitor who had been recommended to us. We were all so exhausted and dejected by this time. I felt very fragile and was totally unprepared for what happened next. Our new solicitor told me that there was no point in taking legal action to enforce the agreement and in front of me he tore it up! He told me that I had to stop thinking like a westerner and start thinking like a Qatari (yeah right!). I had to understand what the obstacle was, find a solution, feed it in through the back door and then wait for them to suggest it back to us as their idea. It was at this point I made my first big mistake. I listened to him. We have since spoken to many people from all over the world who have done deals in Qatar and understand the 'fluidity' with which all agreements with non Qataris are treated. All agree that we should have been tougher. I guess at that point, without knowing what the problem was, I felt that we needed to prove our committment to Qatar and to the events. The feedback from our contact inside the Emiri Diwan appeared to suggest that the deal had been scuppered by the Foreign Minister HE Sheikh Hamad bin Jassim, who had attacked the Crown Prince HH Sheikh Tamim bin Hamad Al Thani over the total amount of the events. Therefore, my suggestion to QSI was that there be a new agreement where we would bring in the first £3million, they would pay the second £3million and then we would raise the money jointly for the second event. We also put a profit share agreement in place. Qatar National Bank brokered the new deal between us and QSI and the final of many, many, many versions was signed again at the last minute at the Qatar launch party on 31st March with guest of honour HRH Prince Andrew, who was visiting his friend The Crown Prince, in attendance. We were finally up and running! If what eventually transpired for my team, the event suppliers and the entrants wasn't so utterly tragic I would laugh when I think of how happy and excited we were and how much we believed in the vision of Qatar and that our troubles were finally behind us...................
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