CONCERNS around the financial state of Horse Sport Ireland were flagged to the Department of Agriculture, Food and the Marine in November 2022 by some of the then Board who resigned en masse.

In a letter of resignation, seen by The Irish Field, the director flagged serious concern around the finances of the company. It said the Board had made repeated requests for transparent information and financial figures but were unsuccessful. It said they did not believe HSI could deliver the level of service necessary for the sector.

This information has resurfaced this week following the news on Monday that HSI has been given the protection of the High Court as an interim examiner was appointed in a bid by its directors to save the national governing body. Barrister Arthur Cunningham told Mr Justice Liam Kennedy that, while the company was unable to pay its debts, an independent expert was of the view that it could be saved through examinership. Chartered accountant Joseph Walsh had agreed to act as examiner and was appointed by Judge Kennedy on an interim basis.

The company, which employs 47 full-time workers, receives state funding to the guts of €8 million per annum from the Department of Agriculture, Food and the Marine (DAFM) and Sport Ireland.

Former TD and junior Minister of State, Lucinda Creighton, was one of the Board members to resign and write to the then Minister for Agriculture Charlie McConalogue in 2022. She told The Irish Field she was not at all surprised by the developments this week.

“HSI is not fit for purpose. It is unaccountable. It is unable to manage tax payers’ resources and therefore the Minister needs to directly intervene immediately,” Creighton said. “There needs to be a winding up or a temporary cessation of operations and the High Performance budgets should be managed by affiliates for the moment. The executive and the Board have proven themselves to be incapable of managing precious taxpayers money; they should resign and temporary measures be put in place by the Department of Agriculture and the Department of Sport.”

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