Mr. Brian Kavanagh:

Unlike most other capital infrastructure projects, in our racecourse support schemes and our racecourse capital schemes we have always only put up 40% to 50% of the funding. We have required the racecourse partaking of the scheme to come up with the balance of the funding, and that approach is to minimise our exposure and to drive the racecourses, most of which are privately owned, to generate their own funding to allow them to be part of the scheme. In fairness, the racecourses do that to a significant degree. They generate large amounts of funds from parties in the bloodstock industry to add to the overall funding. The initial breakdown worked out therefore as a split of one third of funding coming from all three parties. The Turf Club, however, obviously put the racecourse rather than funding into the new company. As the situation evolved, the contribution of HRI went up slightly. It was never our ambition to take over the Curragh racecourse, however, if that is the question being asked by the Deputy.