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Minister Creed Announces Consent for the Sale of Harold's Cross for €23m: New Business Plan for Greyhound Industry to be Produced.

Minister for Agriculture, Food and the Marine, Michael Creed TD, today confirmed that both he and Minister for Public Expenditure and Reform, Paschal Donohoe TD, had provided the necessary Ministerial consents for the sale of Harold's Cross Greyhound Stadium to the Department of Education and Skills following a request from Bord na gCon/ Irish Greyhound Board. It is intended to use the site for the construction of a school or schools.

Minister Creed said: “This asset sale, which will realise €23m for the Board, has the potential to set the greyhound industry on a new path of sustainable growth, and to deal with the Board’s current debt burden which poses a real threat to its solvency. It represents a new start for an industry that is a fundamental part of the fabric of both rural and urban Ireland, but which has been experiencing great challenges in recent years.

I have asked the Board to produce a detailed business plan to realise the full potential of the funds raised by the sale for the development of sector. The plan will require the approval of my Department and of the Department of Public Expenditure and Reform”

Minister of State with responsibility for the greyhound sector Andrew Doyle TD said, “I recognise that this has been a difficult decision for the Board and for greyhound people whohave built a proud tradition of racing in Harold's Cross over many years. However I look forward to the enhanced development of the sport in Shelbourne Park, and in other stadiums around the country, on foot of the new circumstances arising from this sale.

Along with the new legislation going through pre legislative scrutiny in the Oireachtas at present, the resolution of the significant debt problem will mark a new beginning for a sector which makes a strong economic contribution and provides vital employment across Ireland."

The sale of assets, including Harold's Cross Greyhound Stadium, was a recommendation of the Indecon Report into the Greyhound Racing sector. The sale will be subject to normal due diligence requirements.

To view this Press Release as a PDF: DAFMPR 98/2017 (pdf 366Kb) 

Date Released: 01 June 2017

Distribution channels: Agriculture, Farming & Forestry