Mr. Pat Creed:

What this sale is doing is solving a legacy problem that has crippled this industry for a long number of years. This industry has not had enough capital and enough cash to generate what it needs to pay, more importantly, prize money to owners, trainers and breeders. What this debt write-down does is that it puts the board in a position that it can have a sustainable future going forward and it can significantly increase prize money in the foreseeable future provided we get Shelbourne Park back opening, because without Shelbourne Park opening we are haemorrhaging on a daily basis.