Outgames loses $5.3 million

Organisers of this year’s inaugural Outgames in Montr? have confirmed a $5,3-million loss on the event, despite earlier assurances they would post a $200,000 surplus.Outgames owes about $3.5 million to government and business supporters and about $2 million to suppliers, the Montr? Gazette reported.The loss came to light after an independent government examination of Outgames records.Previously the organisation had insisted it would finish $200,000 in the black.Authorities are now asking Outgames organisers how they went from the forecast surplus to a major deficit. A final Outgames report is due later this month.Some backers have expressed doubts about recovering money given to Outgames.It has also emerged that Outgames organisers appealed for help from backers a week before the event opened in July, amid fears about proceeding with the event without additional financial support.Outgames co-chair Marielle Dup? played down the financial results.There are no regrets about the Games, Dup? told the Montr? Gazette.Montr? needs this kind of international event to position itself in the market.News of the Outgames deficit comes a month after organisers of rival event Gay Games, held in Chicago in July, organised an assets sale to make up a $200,000 budget shortfall.