The Government announced today a new round of enhancements to the “M” Mark System.

The new measures will apply to all applications received from September 16 onwards. From that date, applications must be submitted at least six months prior to either the hosting or the announcement of an event.

Outlining that the enhancements refine the vetting criteria and the funding mechanism under the “M” Mark System, the Government said these changes will optimise resources, ensure the quality and attractiveness of “M” Mark events, strengthen events’ appeal to spectators, and proved greater economic benefits.

Adjusting vetting criteria

• The vetting criteria will be refined to better reflect the importance of “major sports events” in contributing to sports development, and the contribution of “exhibition matches/tournaments” to tourism and other aspects of the local economy.

• The total funding ceiling for each event will range from $6 million to $15 million, depending on the vetting outcome. In other words, not every approved application will receive the maximum funding of $15 million.

• To encourage organisers to gradually increase private sponsorship, and to promote the development of sports as an industry, direct grants for new “major sports events” will be provided on a sliding scale, from a maximum of $6 million in the first year, followed by $5 million in the second year, and $4 million in third year.
  
  

Adjusting selection criteria

• The “M” Mark System will focus on supporting world-class “major sports events”, in order make government funding more effective.

• For “exhibition matches/tournaments”, applications received within the same six-month application cycle will be processed and considered together based on their merits. Under normal circumstances, there will be a maximum of three “exhibition matches/tournaments” in the same cycle.
  
  

Strengthening monitoring and reporting mechanisms

• After the signing of terms and conditions for funding support and the presentation of proof demonstrating the amount of cash sponsorship secured, organisers may receive a maximum of 50% of the matching funds they are eligible for before an event is held.

• Should organisers fail to stage events as proposed – with regard to participating athletes, spectator numbers, sports development plans, and marketing and promotion activities – or fail to meet key performance indicators (including those relating to tourism promotion and economic impact), the Major Sports Events Committee may adjust the final amount of funding support.

• Organisers are required to appoint an independent professional agent to conduct an exit survey with participants and submit reports so as to evaluate events' effectiveness.