Chariot's lottery asks charities to bail it out |
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Sat, 15 Jul 2006 11:05
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LONDON - Troubled lottery Chariot, which was touted as a more generous alternative to National Lottery is now asking charities to bail it out of a financial hole. The company will charge an extra 6 pence per pound of the money that goes to charities over and above the original charge of 1.8 pence per pound.
These additional charges now mean that charities stand to make 22.5 pence per pound from Chariot. Originally the company had promised to pay 30 pence per pound as opposed to 28 pence paid by National Lottery. Peter Jones, the chairman of Chariot has promised to repay the extra fees and charities seem willing to go along with the arrangement. “We’re happy to accept this temporary arrangement, with additional fees rebated in due course, as a constructive way of seeing what we believe is fundamentally a worthwhile project continue," said Ken Walker, of the Multiple Sclerosis Society.
Carol Monoyios, of CARE International UK agreed. “It’s in our interests, and the interests of the poor people around the world, to support it however we can.” Chariot said 63 of its 70 charity partners had agreed to let go of this extra funding so that the company could remain afloat. Some of the charities associated with Chariot include the British Heart Foundation, Mencap, the Big Issue Foundation, Shelter and the World Wildlife Fund.
Mr Jones said the added funding would help the company enormously. "We can now continue to implement our new business plan and look forward to the future of the game in return for a modest and ultimately rebated sacrifice by the charities," he added. Mr Jones himself invested £250,000 in the fundraising and said it was a "demonstration of my confidence" in the company.
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