Saddle-up: Iconic Queensland rodeo saved with $2m lifeline

Mount Isa’s strife-torn rodeo has been delivered an incredible lifeline which could save the iconic outback Queensland event just months after it was placed into administration.

The Mount Isa Rodeo in 2024. Photo: Supplied

EXCLUSIVE

Mount Isa’s iconic rodeo looks set to be saved from the scrap heap with a multimillion-dollar lifeline from the state government to safeguard the event’s future.

The rodeo, one of Outback Queensland’s most famous events, was plunged into turmoil and placed into administration two months ago with crippling debts of almost $2 million.

Despite the setback, administrators SV Partners had been “quietly confident” the crisis could be averted and told a creditors meeting in November that they planned to lobby various levels of government to secure a rescue package.

It now appears as though that lobbying has paid off, with the State government set to announce details of a $2m funding commitment as part of the Mount Isa Transition Fund – an initiative designed to support the economy of the outback centre beyond the looming closure of the Glencore copper mine.

The flailing Mount Isa Rodeo has been thrown a lifeline. Photo: Supplied

As part of the one-off grant to the Mount Isa City Council from the $20 million Mount Isa Transition Fund, the additional money will allow the rodeo to ride into its 66th year in 2025.

Deputy Premier, Minister for State Development, Infrastructure and Planning and Minister for Industrial Relations Jarrod Bleijie said the grant boost would allow the Mount Isa Council to support the rodeo that would deliver economic benefits to the region.

“The Mount Isa Rodeo is an iconic regional tourism event for the northwest and for Queensland,” Mr Bleijie said.

“The Crisafulli LNP Government is proud to support the Mount Isa Rodeo, as it attracts 25,000 attendees and visitors to the region, stimulates the local economy and supports local jobs.

“This funding announcement has not only saved the Mount Isa Rodeo but it also sends a strong message to Queenslanders that the Crisafulli LNP Government backs outback tourism.”

Queensland Tourism Minister Andrew Powell, who will visit Mount Isa on Wednesday to confirm the funding package, said the rodeo was a critical event for the region.

“Tourism is an important industry in the northwest of our state and there is no bigger drawcard for Mount Isa than its famous rodeo,” he said.

“As well as the economic benefits that the rodeo provides the city and the region, these kinds of events are an important opportunity for the Mount Isa community, friends, families and visitors to come together, creating community pride and connection.’’

The rodeo, which pours millions of dollars into the Mount Isa community each year and supports the equivalent of hundreds of full-time jobs, owes an estimated $1.91m to more than 80 creditors – more than half of them either Isa locals or regional Queensland businesses.

At least 15 creditors are volunteer community groups, while multiple businesses are owed more than $100,000.

The $2m cash injection could ensure those creditors receive most, if not all, of their outstanding debts, while a forensic financial analysis of the rodeo has also identified areas where money can be saved to make the event a more cost-effective venture going forward.

Recent moves to attract big name music performers had added significantly to the rodeo’s bill but questions had been asked as to whether it returned bang for buck on the investment required to lure top acts to town for the rodeo.