GUERNSEY LIVE organisers have not ruled out the possibility of staging the event next year – but the States would have to provide a financial lifeline.

‘If we can get some support, it would be worth taking a risk again but we need someone to take that risk with us at a higher level. It’s the only way we can get the event going,’ said co-organiser Warren Holt (pictured).

He said sponsorship and financial backing had to be in place before Positiv Productions could commit to the event for a second year.

Organisers are in talks with Culture and Leisure minister Mike O’Hara. He is keen to meet to establish whether a financial compromise can be agreed but said the States would not be in a position to underwrite the event to the extent organisers had wanted.

Mr Holt said the company had been too optimistic this year and unexpected expenses had made the cost of staging the event spiral to £500,000. Mr Holt said that while a loss had been expected, it had been estimated at £50,000.