Quat said that, although private sector involvement was “important,” the government needed to improve “safeguards” for companies holding such events to avoid similar “bad experiences”.

“Some private companies are not very experienced [at hosting such events],” Quat added.

“The government should pay more attention to the experience of the private companies, give them more guidelines, look into all the details, and make sure the mega events can really have a good outcome.”

The “M” Mark system, launched in 2004, was designed to give support to some of the city’s biggest sporting events, including the Cathay Pacific/HSBC Hong Kong Sevens rugby tournament, the Standard Chartered Hong Kong Marathon and the Hong Kong International Dragon Boat Races.

Organisers of eligible events can apply for direct and fund-matching grants up to a combined total of HK$15 million, as well as HK$1 million apiece for marketing and venue support.

The government provided around HK$149 million to back 15 “M” Mark events last year.

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It relaxed requirements under the scheme in 2023 so that private organisations could apply for funding as part of a bid to revitalise Hong Kong’s status as a host for mega-events. Funding was earlier only available to the city’s national sports associations.

Secretary for Culture, Sports and Tourism Kevin Yeung Yun-hung on Monday said he would look at ways to “improve” the “M” Mark system, but did not give details on what might be done.

Lobo Louie Hung-tak, associate head of the health and physical education department at Hong Kong’s Education University, also suggested the government introduce additional “gatekeeping” for private groups unaffiliated with national sports associations.

He said that the city’s sports associations had “decades” of experience building partnerships and relationships with the government, which helped them to stage large-scale events.

He also noted that some of the vetting criteria for “M” Mark designation was vague, such as the requirement that applicants have a “track record in organising large-scale events”.

“It is rather difficult to define what the scale is,” he said.

The “M” Mark-awarded FIA World Rallycross Championship season finale last October was also plagued with problems, including the track having to be shortened at the last minute because of supply difficulties.

The event was organised by World RX (HK) Management Limited, which had only registered with the Companies Registry eight months before the race.

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“The contract should also include a compensation policy to make up for spectators’ disappointment,” he said.

“For example, in what conditions can the star player be exempted from participation [and] what kinds of injuries should be indicated in the contract?”

Nightlife tycoon Allan Zeman said Sunday’s disappointment was an “unfortunate incident” but that it should not stop the government from using private organisations to host big sports events.

He said injuries were treated very seriously among athletes whose livelihoods depended on their ability to perform.

“In this case – whether it's the government or an experienced promoter – no one could have changed what happened,” Zeman said.

He also pointed to the economic benefits the event had brought to the city.

Legislator Peter Shiu Ka-fai, who represents the wholesale and retail sector, said Sunday’s match had helped to boost the retail and catering sectors in Causeway Bay by 20 to 30 per cent.

Zeman said: “The excitement it created really gave a great spotlight on Hong Kong. Unfortunately it went the other way, but you see the potential.”

Additional reporting by Ezra Cheung