CEO and founder of the Web Summit Paddy Cosgrave
Adrian Wreckler, on Independent.ie, reports:
Paddy Cosgrave’s Web Summit has secured a whopping €110m from the Portuguese government to stay in Lisbon for the next 10 years.
The company had been engaged in “a competitive tender process” with other European cities over the last year.
The deal also includes what the Web Summit describes as a “€3 billion buyout clause”, should another city want to tempt the event away from Lisbon.