General News
10 September, 2024
EXCLUSIVE: Mount Isa Rodeo on life support
The future of the iconic Outback event is up in the air after Isa Rodeo Ltd posted a major loss this year.
A massive drop in crowds at this year’s four-day event has the Mount Isa Rodeo on the brink of financial collapse.
Isa Rodeo Ltd says it doesn’t have the money to pay all of its creditors, let alone have enough in reserve to put on next year’s event, meaning that it will need a bailout – either from the state government or its sponsors – to keep running.
Half of the rodeo’s staff – two employees – have already been let go in a bid to reduce costs.
CEO Natalie Flecker confirmed the rodeo had called on the state government to provide a bailout to save Isa Rodeo Ltd and the event.
However, Minister for Tourism Michael Healy has so far resisted providing a stimulus cheque to the event, instead offering up support through the Tourism and Events Queensland team to help the Isa Rodeo team review its practices.
“Tourism and Events Queensland currently holds a contract to support the Mount Isa Mines Rodeo until 2026,” he said.
“Mount Isa Rodeo has been supported via funding by Tourism and Events Queensland for more than 15 years.
“We appreciate that event organisers are facing difficulties given the current economic climate and have ensured there is support for future commercial viability offered by way of partnership activities to events within Tourism and Events Queensland’s portfolio.
“This support includes comprehensive reviews of commercial assets and value, defining opportunities for development, independent assessment of event delivery models and exploring further partnership options to drive additional market engagement.”
North West Weekly understands that the government is not willing to support Isa Rodeo Ltd unless major changes are made.
Chair Rowena McNally said a number of factors had led to the organisation’s financial woes, including the pandemic, which put a strain on Isa Rodeo’s reserves.
“When we went into COVID we had some pretty good reserves that had been built up over the last 10-15 years and that managed to sustain us through COVID ... the couple of years that followed that were really quite difficult,” she said on Monday
“By the time we came out of COVID we had pretty much chewed up our reserves and we were looking at making sure that the rodeo was financially sustainable.”
The board’s answer was putting on multiple events, including the Road to Rodeo series, which had a number of setbacks before it was scrapped this year.
The addition of the Indigenous Rodeo Championships, which was largely a success due to sponsorship, put a strain on the rodeo's resources and some community relationships.
Ms McNally said the rodeo had enough cash on hand to pay its current bills, however more bills were on the way, which Isa Rodeo wouldn’t be able to pay without help.
“The issue for us is not just whether we can pay creditors,” she said.
“We actually need money in the bank before you can even look at putting on a rodeo.
“We’re asking ourselves what do we do now; I mean the rodeo is 65 (years old) is it time to retire?
“Is Mount Isa bored with it?”
Member for Traeger Robbie Katter said he didn’t want to get heavily involved in rodeo affairs, but acknowledged he had spoken to Mr Healy about the rodeo’s request for financial support.
“I think it's pretty obvious we need a radical change in direction,” he told North West Weekly.
“Perhaps it's time to change the nature of the event back to what it was and if those changes are made I’m highly confident we can get funding out of the government.
“However, I don’t think you can just write a cheque and think that the job is done. Mount Isa people will rightfully want to see the rodeo in good hands and heading in the right direction.”
Mount Isa mayor Peta MacRae said she was aware that a number of events had struggled in 2024, however, she acknowledged the Isa Rodeo leadership team was slow to react to the downturn.
“It is our understanding that all Outback events were down in numbers this year,” she said.
“The cost of living, fuel and interest rates are stopping many from heading off on holidays.
“The economic climate in Mount Isa was also not conducive, with the community worrying about the imminent underground copper mine closure ... and also some of the antisocial behaviour we are seeing in the community.
“The council understands the economic, social and cultural importance of Mount Isa Rodeo to the community and we are committed to seeing it continue, in whatever form or by whatever party that may be.
“The rodeo is an iconic Outback event with major event status, so we hope that the current board and management are able to take on community feedback and scale their event to make it financially successful in 2025.”
Rodeo CEO Natalie Flecker said it was recognised that if the event was able to survive, changes would be made.
“We’re very confident that we can put on a really good event with much fewer bells and whistles,” she said.
“It would still have good entertainment and still be a great rodeo, but perhaps not quite the thing that people have travelled thousands of miles to see.
“But we need to be able to sell it to them as still being a bucket list event.
“We’ve got a number of options we’re exploring but we’re certainly not giving up.”
There are two vacant board positions following the resignations of Darren Campi and Gary Murray.
Ms Flecker said at least one of those positions would go to a Mount Isa resident.
“We’ve got some options on the table that we’re exploring,” she said.
Ms McNally said being a board member came with very few perks.
“We all pay our own way to get to meetings,” she said.
“The talk about snouts in the trough that has been going around is far from the truth and a lot of people are less interested once they find out there is no profit and that you’ve even got to pay for your own food.
“There’s a lot of work involved and it’s a million-dollar event with significant liabilities.”
Both the chair and CEO said they had no intention of resigning from their roles, despite the level of public scrutiny.
Ms McNally said she had been planning to retire from the role but insisted she had “unfinished business” to try and dig the rodeo out of its hole.
One thing appears certain, the people of Mount Isa will no longer be asked to pay $90 for tickets to the biggest rodeo in the southern hemisphere.
What is uncertain is whether it continues to be the biggest.