§ Mr. MaudeTo ask the Minister without Portfolio (1) what fee Mark McCormack of International Management Group will receive from the Millennium Commission; [8026]
(2) if he will make a statement on the provisions of the contract which he recently signed with Mr. McCormack of International Management Group to raise money for the Millennium Exhibition at Greenwich. [8027]
§ Mr. MandelsonNone. His contract is with the New Millennium Experience Company. The fees paid to Mark McCormack's International Management Group (IMG) will be on a sliding scale of 4 per cent. to 15 per cent. of the sponsorship raised, reflecting the fact that their task will become more difficult as the sponsorship total rises. All IMG's fees will be success related and they will bear all their own costs: i.e. no sponsorship, no fee.