Mr. Brian Kavanagh:

The Deputy asked about the value of racecourses. One could answer that across a broad spectrum. At one level, racecourses are worth nothing. They are effectively locked in to be used for racing. Most of them are in rural areas and are of limited commercial potential. A previous chairman used to say it would be easier to close a hospital in Ireland than to close a racecourse. Ireland has a population of 6 million people and 26 racecourses while Hong Kong has 6 million people and two racecourses. If one took a cold, hard business look at it, one would say there are too many racecourses. However, the variety in the types of racecourses in the country is what gives Irish racing its broader charm, if I can call it that.

In terms of the proposal of liquidating a racecourse, the only one worth talking about probably would be Leopardstown. Leopardstown has a massive tradition. It is over 100 years old and is racing's only outpost in Dublin. We see in other countries that there is a disconnect between the population and horse racing. They are urban societies and people do not see or grow up with horses. They do not understand it. That is not yet the case in Ireland but it might come down the line. Leopardstown Racecourse has a very important role in keeping the flag flying for horse racing in Dublin. There is a limited amount of land there to sell without compromising it as a racecourse. The idea of selling it in its entirety and building a new racecourse somewhere on the M50 or the like-----