The Ministry of Finance has refused to approve the budget proposal by the Cyprus Automobile Association for the 2023-2025 European and International Rally to be organised here on the island.
And this means an estimated loss of revenue of over €120 million, head of the Association Antonis Michaelides has said before adding that this year’s Cyprus Rally – always organised in September – will be cancelled in protest.
However, Michaelides made clear that the offer from the FIA – the governing body of motor sport — still stood for 2023-2025. The total cost was only €10.6 million, he added.
Michaelides also expressed the hope that the government to emerge from the February 2023 presidential elections in Cyprus will reconsider.
The annual Cyprus Rally has been called off for the first time since 1974-1975 when it was scrapped following the Turkish invasion.
by Daphne Stavrides