Yesterday a compromise settlement was reached between the government and the KAN - Israel Public Broadcasting Corporation about NIS 50 million in financing guarantees for the Eurovision Song Contest final due to be held in Israel next May. But nobody is fooling themselves that the enormous expense involved in staging the final won't result in more crises.
With no budget for production of the extravaganza yet agreed upon, Canadian-Israeli billionaire Sylvan Adams has stepped into the breach. Sources close to Adams say that immediately after Netta Barzilai won the contest last May in Lisbon, granting Israel the right to host next year's event, he expressed readiness to do everything in his power to help make the Eurovision in Israel a success.
Adams already has major experience in bringing a big international event to Israel, having brought the opening legs of the Giro d'Italia bicycle race to Israel last May - the first time that parts of the race had been held outside Europe.
Adams is prepared, according to the source, to donate from his own money so that the Eurovision contest can go ahead in Israel. He would contribute as part of a venture he has founded with Daniel Ben-Naim to bring major international events to Israel that can help improve Israel's image around the world.
Published by Globes [online], Israel business news - www.globes-online.com - on August 15, 2018
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