Owners of Brighton i360 defend finances despite lack of sponsor

Ian Hart, chief operating officer for the Brighton i360, said that while discussions around sponsorship were a “work in progress”, such an arrangement “is not essential” to meet the demands of loan repayments.

He said: “Within our five-year plan we have produced, which the council have gone over, the numbers are robust and they do not include any sponsorship at all.

“Although we are talking to people about sponsorship, and of course, it would be a positive thing to get if we get it, it is money over and above what we’ve already got in our plan.”

Mr Hart also said that “category sponsorship” could be an option for potential backers, with businesses sponsoring an aspect of the landmark, such as an activity or event held at the tower.

“In terms of our position, we are talking and have spoken with various parties about sponsorship. If we can get sponsorship, that’s a positive thing, but it is not essential.”

Ian Hart took over as boss at the i360 in 2019

Mr Hart said the i360 is looking at different types of revenue to navigate difficult economic waters due to the cost of living crisis.

“There are real challenges and they are affecting every type of business and it is especially challenging for our type of visitor attraction," he said.

“We have taken into consideration the cost of living crisis and we’re looking at how some of our ticket prices and products can be more value-driven.”

However, despite the difficult economic climate, Mr Hart stressed there is still a strong demand for events at the viewing platform, highlighting the success of recent DJ events.

He said: “They are proving to be extremely popular - they are sold out every time we put them on and we are trying to get bigger names in terms of the DJs who can come along.

“The events market is relatively buoyant and we are certainly taking our fair share of that. 

“Money is tight, but people still want to do something. As long as we can offer a great experience and value, we’re doing all we can in a responsible way.”

Staff uniforms will be among the changes as the British Airways sponsorship of the i360 comes to an end

The seafront attraction will be rebranded as Brighton i360 from November 1 after British Airways ended its sponsorship deal.

The rebrand will see changes to large-scale external signage, new staff uniforms and a new lighting scheme for the tower and pod.

British Airways’ red, white and blue livery will also be stripped from the logo of the viewing tower, with a new pink and white logo replacing the previous design.

The news comes three months after the council approved a new loan deal for the i360 after it struggled to meet its original repayment schedule.

The landmark has outstanding debt of more than £47 million after missing a number of payments, some due to the pandemic and related restrictions.

Under the new terms, the council will carry out a “cash sweep” every six months and take all the spare cash in the business, leaving enough for the business’s operational needs.

The next loan repayment of £900,000 by the i360 to the council is due in December, to be followed by a repayment of £600,000 at the end of June next year.