Organization costs amounted to €800,000, while returns will exceed cost by 10 percent, according to Enoiu. The necessary budget for organizing such an event depends on the value of the awards. An additional 150 percent of the awards’ value is required. This year’s edition will grant €350,000 in prizes. “We hope that in 2009, the awards’ value will amount to €500,000, and the total costs of organizing the event might then be some €1-1.5 million,” forecasts Enoiu. The agency will also attempt to keep the 10 percent profit rate.
Although Enoiu does not view the event as a business opportunity and says his incentive is the love for the sport, BCR Open might become a profitable event for Mc
Cann, with returns over €100,000 in two years time. As a tennis enthusiast, Enoiu involved his agency in organizing the competition five years ago. “The whole McCann group is cooperating with the Romanian Tennis Federation. Event-marketing agency Momentum is staging the competition, while McCann is advertising it,” Enoiu explained. The agency is also seeking for sponsors, while the media division deals with the event’s advertisement. Preparations take about three months.
McCann Erickson is the largest advertising agency in Romania, with €50.7 million worth of business for 2006 and net profits of €1.2 million, according to data published on the Ministry of Econ
