Aerosmith’s concert will cost the Georgian state budget 5.5 million GEL.
The concert is planned to take place on May 20, 2017 at the Black Sea Arena, which was gifted to the government of Georgia by the Ivanishvili-founded Kartu Foundation.
Aerosmith is planning to end its career with its 2017 tour, so the concert on Black Sea Arena will be one of the last international concerts of Aerosmith.
According to the chairman of the State Procurement Agency, Levan Razmadze, the government will be able to pay for the expenses with an eased procurement law.
On December 8, Minister of Culture, Mikheil Giorgadze stated that the main source of the counter’s funding is the operational expenses of Black Sea Arena.
“Aerosmith’s concert is being financed from the operational expenses of the arena itself, partially, as far as I know, the expenses will also be covered by selling tickets and money from sponsors”, stated Giorgadze.
The government of Georgia has created a special council in order to efficiently manage the budget of Check-in Georgia, which is a “council for planning touristically important, cultural and other events”. The main aim of the council is to improve the coordination between the government and private sector.
Check-in Georgia was financed by 28 million lari in 2016 from the government’s reserve fund. From 2017’s lineup, only Aerosmith has been mentioned and planned. However, according to the Minister of Culture, other concerts with top international performers are also being planned.