Action News has learned that there are strong indications the regatta may be staying put in Philadelphia after it had originally been planned to move to Rumson, New Jersey.
A meeting is scheduled for Wednesday involving key city and regatta officials to discuss this very topic.
The Dad Vail Regatta is the largest collegiate regatta in the US with over 100 colleges and universities from the States & Canada taking part. For the last 56 years, it has been held on the Schuylkill River in Philadelphia and has been drawing more than 12,000 visitors annually.
Last month, it was announced that the regatta was moving to Rumson. However, Action News has learned there have been a series of developments which may keep it in Philadelphia.
Jack Galloway, the regatta's chairman, told Action News, "Philadelphia's mayor and the city have altered their stance and I am looking forward to meeting to discuss the possibility of returning the event to Philadelphia."
There are other developments that may have played a role in this change of course. Last week, the Rumson Borough Council announced that the $250,000 that drew the regatta there to begin with was not guaranteed and it now wants race organizers to cover any costs incurred by the city as a result of hosting the event.
That is bad news for the financially strapped regatta that was dealt with a 60% drop in corporate sponsors.
Galloway tells Action News he is "very much willing to further discuss this matter with the city in an effort to iron out the divide."
Congressman Bob Brady, who has been intricately involved in the discussions, says he has asked Mayor Michael Nutter to reserve the race date in May 2010 so the regatta can be held in Philadelphia if and when everything is finalized. According to sources, that has been done.
It is not yet clear what has changed in the "city's stance" as Galloway called it, but it seems most parties want to iron out all issue to keep the regatta in Philadelphia.
All eyes are now on the meeting scheduled for Thursday between the city and the regatta officials.
