After two days of dramatic statements between KAN and the Ministry of Finance and reaching the last day of the extended deadline EBU gave to the Israeli broadcaster, KAN confirmed that it will pay the amount of 12 million required as a guarantee to host the contest.

Although initially nothing was confirmed officially by KAN, local media, as haaretz, reported that the broadcaster will take out a loan for the required amount. After talks with the Finance Ministry, it seems that the two sides reached an agreement according to which, the Ministry will cover the amount of the loan in case the contest isn’t eventually held in Israel, due to extraordinary conditions coming from a war or  boycott.  However , this afternoon KAN confirmed such agreement and that the broadcaster itself will be paying the whole amount of 12 million dollars for the required guarantee.

Just two days ago the Prime Minister, Benjamin Netanyahu threatened to shutdown the broadcaster if it did not comply with the payment of the guarantee. On the other hand, KAN strongly objected to such option, stating that such development would lead to a rapid elimination of staff and productions in order for the channel to live up to such financial requirements.

However after all that drama it seems that KAN has found the solution for the guarantee amount and the next thing in progress will be, to have the host city revealed.

Israel gained the right of hosting the next Eurovision Song Contest after Netta’s victory in Lisbon with her song Toy. Lets escape from all this latest days’ drama and remember her performance back in Lisbon: