Festival bosses may still have to scale back the World Pride parade in London next week, despite assurances they are financially stable.
Unconfirmed reports suggest the decision not to allow cars, buses and floats in the World Pride parade on 7 July, which the UK capital is hosting this year, has already been made.
But GSN has been told the organizers may still be facing cash-flow issues.
Reports suggest that the Greater London Authority, which is a major backer of pride in the city, has put pressure organizers not to overstretch themselves financially.
This may lead to the parade through the city center being scaled back to only having walking groups. However if that is the case, it could hit pride even harder in the pocket, as many sponsors have already spent money on organizing floats.
Lead sponsor Smirnoff is understood to have invested thousands of pounds in their float.
Pride insiders report that negotiations are continuing to salvage the situation but admit it is ‘alarming’.
However a senior pride source which GSN spoke to was reassuring and said the organizers had ‘regrouped’ and that there would be ‘good news’ released soon.
GSN understands the pride parade operational team has not yet been notified about what is happening – although an operational meeting is taking place at 5pm tonight.
Pride London communications director Uwern Jong told GSN: ‘We will comment shortly.’