Mr. Brendan Gleeson:

Part of the difficulty, and a factor in the perfectly legitimate issues that are being raised here, is that when one does not have money, one has to make difficult decisions. The fact is that there is a very significant debt which is costing a lot to service. As far as I am aware, between €2 million and €3 million was involved in covering the interest and bank debt over the last two years. That is money that could otherwise have gone into prize money, breeders' incentives, investments in stadia. This thing is a bit of a self-fulfilling prophesy.

I cannot say I am happy with the situation but I am quite sure that the board and the interim chief executive would say exactly the same thing.