Review of Bord na gCon as debt levels to be assessed
The Irish Greyhound Board, Bord na gCon, is up for review.
According to the Agriculture Department this morning: “The review will be undertaken in order to ensure that the legal, governance and administrative framework supporting the industry is appropriate and fully effective and to identify opportunities to maximise the commercial income of the bord, in order to assist the greyhound racing industry in reaching its potential.”
The review will assess the appropriateness of the existing legislation in the current operating environment, particularly with regard to the governance of Bord na gCon, and make recommendations as to any changes required.
It will evaluate whether the current structure and size of the board and management structure of Bord na gCon is best designed to ensure that the organisation operates efficiently and effectively, in order to maximise the potential of the industry and make recommendations as to any changes required.
Against the background of the current financial environment, the review will identify opportunities to increase the commercial income of Bord na gCon assessing levels of debt sustainability and outline the actions required in this regard, including through the development of the breeding sector, having regard to the Bord na gCon Strategic Plan 2013 to 2018.
Referring to the review, Minister of State Tom Hayes said: “The greyhound racing industry makes a significant contribution to employment and the Irish economy generally, and I want to ensure that the structures supporting the sector are appropriately configured to maximise its potential into the future.
“Stakeholders in the sector have made significant strides and shown great commitment in bringing the industry to where it is today. However there is a need now for reflection and examination of the legal framework, the governance and regulatory structures and the commercial opportunities available in order to chart a course to position this important industry to face the challenges ahead. The Review will build on progress already made and assist the Bord in providing a renewed impetus to the development of the greyhound racing industry.”
In addition, a stakeholder consultation process is also under way. The closing date for receipt of submissions from stakeholders is 22 November 2013.