| UK. Tracy Edwards: Quest creditor believes Arabs let her down |
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| Thursday, 15 September 2005 | |
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Marian Martin BYM News has spoken to Paul Wells, director of Sycamore Enterprises, the UK PR and web design company that was responsible for the design of the original Quest publicity material and which designed and operated the website for the Oryx Cup race and is one of Quest International Sports Events' creditors. Sycamore's involvement with Tracy Edwards began shortly after she bought the catamaran Club Med, later to become Doha 2006, and was looking for a design company. Paul Wells told BYM News "The company focus is design, but sailing is my hobby and the decision to help Tracy was more hobby than business related. That said we were not feeling nervous about the business side of it until very near to the end." Wells remembers the period leading up to the famous launch at which Edwards announced she had obtained £38 million in sponsorship; a launch for which Sycamore supplied graphics and some printing and describes that period, when Edwards was in Qatar, as "frenetic". "Graphics were flying back and forth at rate you wouldn't believe." Wells said "It was a high stress time, with tears at times, but in the end Tracy called and said 'We've done it' and it all seemed worth it; everyone was jubilant." Sycamore immediately began work on material for the launch, which Wells attended. He told BYM News "She hadn't told us the amount of the sponsorship before the launch, so £38 million was a big surprise, but I feel certain that is what she was promised. There was a QSI guy there at the launch, which gave added credibility and the Qatari fingerprint has been on it ever since." Wells went on to describe his visits to Qatar, which he first visited to plan the Middle East launch of the project. He told BYM News "There always seemed to be robes and sheiks about and, if they weren't playing ball, I had no inkling of it; the body language said they were." Sycamore was, according to Wells, paid for all the work done, right up until the final invoice for £31718, which was in connection with the website covering the actual round-the-world event. When pressed for payment of this, Wells quotes Edwards as saying "I can't pay you yet, but I've never let you down before, have I?" "That was true" he told BYM News "we had always been paid in the past, though always a bit later than promised, but that isn't unusual. When Quest went into administration we were a bit frustrated that she hadn't admitted there was a serious problem, but I think that right up to the last minute she couldn't believe the Arabs would let her down. None of us can believe it, but it looks like that's what happened, they just walked out on her." Related articles $70 million was the real deal with Qatar Tracy Edwards "Who owes the prize money, who owns the boat?" answered Tracy Edwards: Quest creditor believes Arabs let her down Tracy Edwards & the Oryx Quest "Much has been destroyed by this" says Bruno Peyron DTI investigates Edwards companies; Administrator says "No conflict of interest" Those with pending court cases against Quest should register claim "Who owes the prize money?" "Who owns the boat?" asks Larsen; Bullimore won't talk "Yachtswoman Tracy Edwards declared bankrupt, debts could be £8 million |
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| Last Updated ( Sunday, 18 September 2005 ) |
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