Dáil Éireann Debate, Tuesday - 20 June 2017
1589. Deputy Richard Boyd Barrett asked the Minister for Agriculture, Food and the Marine the history of valuations for the Harold’s Cross greyhound stadium commissioned by his Department or the Irish Greyhound Board; and if he will make a statement on the matter. [28540/17]
Amharc ar fhreagraThe Chairman of Bord na gCon wrote to my Department on 10 May seeking my approval and that of the Minister for Public Expenditure and Reform for the sale of Harold’s Cross Greyhound Stadium to the Department of Education and Skills.
The sale of Harold's Cross Greyhound Racing Stadium is a transaction between the Department of Education and Skills and Bord na gCon. I had no role in the approval of the sum of €23 million offered for the stadium. Indeed I understand that that sum was based on an independent valuation by the Valuation office and that this was provided and accepted by the transacting parties, in accordance with Department of Public Expenditure and Reform procedures governing the sale of state assets.
I was however required to consent to the sale of the asset by Bord na gCon in accordance with the code of governance for State Bodies. The necessary Ministerial consents for the sale have been provided, subject to the proceeds being used to substantially reduce the debt and to the submission of a comprehensive business plan by Bord na gCon.
This sale was consistent with a recommendation in the Indecon Report, commissioned by my predecessor, that Bord na gCon consider disposing of assets, including Harold's Cross Greyhound Racing Stadium, in order to reduce its debt levels. This debt stood at €21.4 million at 31st December 2016, and the cost of servicing it was a significant impediment to the Bord's ability to carry out its statutory obligation to develop the industry.
I am confident that this sale, along with the new framework for improved governance and regulation currently undergoing pre legislative scrutiny in the Joint Oireachtas Committee on Agriculture, Food and the Marine, can provide a platform for a new beginning for the sector and a more sustainable future.
