Hyde Park Music Festival (HPMF) 2022-27

Contracts

• Contract 023477-2021-NA-1 · AEG Presents Ltd

  Signed

  3 Nov 2020

  Value

  £401,410,000

  Status

  active

  • Change TRP publishes this notice to record its intension to modify its contract for the operation and management of Hyde Park Music Festival (HPMF) to allow the Event Organiser to hold two additional days' worth of annual events in 2022, 2023 & 2024 each having a capacity of 49,999. All of the events permissible each year under the contract (including the Additional Events) will be held within a three week time period., Need for additional works, services or supplies by the original contractor/concessionaire: TRP requires this modification as two slots (from the limited number which TRP is permitted to stage each year) previously used for events in September of each year ('Additional Events') which had been covered under an alternative contract to that being modified, have unexpectedly become available. A three-year period will be required for TRP to a) procure an alternative event organiser to hold the Additional Events (under a sperate contract) and b) for the alternative event organiser to mobilise to start providing the Additional Events from 2025 onward (it not being technically possible to commence a new contract for the Additional Events before then). The Additional Events will be moved to July to make use of the existing infrastructure and this will accordingly reduce disruption. TRP believes that without this modification the Additional Events would otherwise not go ahead meaning that the public benefit as well as the financial benefit which ultimately accrues to TRP (which is a charity) would be lost. TRP also believes that the modification to the existing contract is not substantial. TRP therefore believes that this modification is permissible.