Written answers

Wednesday, 1 July 2015

Department of Agriculture, Food and the Marine

Greyhound Industry

Photo of Mick WallaceMick Wallace (Wexford, Independent)
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44. To ask the Minister for Agriculture, Food and the Marine further to Parliamentary Question No. 467 of 9 June 2015, the reason for the planned closure of Harold's Cross greyhound stadium, particularly in view of reports that it is considerably more profitable than other stadia here; and if he will make a statement on the matter. [26104/15]

Photo of Simon CoveneySimon Coveney (Cork South Central, Fine Gael)
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The Indecon report (“Review of Certain Matters relating to Bord na gCon”) which was published in July 2014 contained 27 recommendations, including a recommendation that a plan for asset disposals should be implemented. In accordance with the provisions contained in the Code of Practice for the Governance of State Bodies and in accordance with the Horse and Greyhound Racing (Betting Charges and Levies) Act 1999, Section 10(18C) Bord na gCon must obtain the consent of the Minister for Agriculture, Food and the Marine and the Minister for Public Expenditure and Reform for the disposal of any property. I have not received any request for such consent at this point in relation to Harolds Cross greyhound track.

The Indecon report which was published in July 2014 recommended that Bord na gCon actively engage in a programme of asset disposals in order to reduce debt levels. The report listed potential asset disposals that should be considered which include the site at Meelick near Limerick City, the old Henry Street head office in Limerick, land in Cork the Harold’s Cross track. The report further recommended that the timing of these asset sales should be made in a manner which maximises the value for Bord na gCon and should take account of planning/zoning issues and market developments.

Bord na gCon’s annual report and accounts for the year ending 31 December 2014, are currently being audited by the Comptroller and Auditor General. These accounts, which are not yet published, indicate that the BNG’s net bank borrowings at 31st December 2014 stood at €22.4m.

It is of the utmost importance that Bord na gCon should strengthen its overall financial position and reduce its borrowings over time. Bord na gCon assures me that it is progressing with the implementation of the recommendations contained in the Indecon report, including an asset disposal strategy aimed at reducing its level of borrowing. In this regard, Bord na gCon has drawn up a plan for asset disposal with a view to ensuring that the greyhound industry can reach its full potential and prosper into the future.

In according to the Code of Practice for the Governance of State Bodies,the disposal of assets by State bodies or the granting of access to property or infrastructure for commercial arrangements e.g. joint ventures with third parties, with an anticipated value at or above a threshold level of €150,000, should be by auction or by competitive tendering process, other than in exceptional circumstances. The code further states that the method used should be both transparent and likely to achieve a fair market-related price.

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