THERE may still be life in Ireland's 1998 World Equestrian Games, even though the organising company officially ceased trading last week. The directors of WEG Ireland Ltd are hoping that the possibility in £1 million backing from an unnamed international source, plus a pledge of £100,000 to fund the company's operating costs may be enough to encourage a Government turnaround on its no funding stance of last week.
The International Equestrian Federation (FEI) has offered WEG Ireland a loan of £50,000 as a vote of confidence in the organising committee and a further £50,000 has been produced by private Irish backers.
The company was forced to cease trading eight days ago following the Government decision to withdraw funding of the £10.9 million project, but it is hoped that the promise of renewed financial interest, plus a week of political lobbying may result in a change of heart by the time the Dail reconvenes next week after the Easter recess.
Pressure on the Government from the horse industry has been gathering momentum, particularly in the light of revelations this week that Bord Failte may have failed to draw Government attention to the fact that it would be liable for the £1.5 million guarantee extracted by the FEI should Ireland renege on its plans to stage the 1998 Games.
The equine industry has not been slow to point out the fact that it would actually be cheaper for the Government to guarantee the remaining £1 million of the £1.5 million that was pledged when the Irish bid was given the go ahead in 1994, than to pay out the £1.5 million bond to the FEI after already giving WEG Ireland £500,000 through Bord Failte grants for its operating costs in 1994 and 1995. Last week's shock news of the WEG collapse has galvanised the horse world into action and, at a two hour meeting of the Equestrian Federation of Ireland in Dublin yesterday afternoon, it was agreed that a letter should be drafted to the Taoiseach John Bruton requesting an urgent meeting to discuss the situation.
International confidence in Ireland's ability to stage the Games in August 1998 remains high and the FEI secretary general Professor Bo Helander yesterday expressed the Federation's belief that Dublin is "the ideal venue". He said that if the Irish Government was prepared to review its decision on funding "it would be difficult not to come to a positive conclusion. They will realise their mistake and correct it," he said.
Professor Helander went on to say that the FEI is currently attempting to accelerate moves to confirm television coverage of the Games. Lack of contractual evidence of television coverage for the fixture has been one of the main stumbling blocks to WEG Ireland securing written confirmation of the £6 million sponsorship package required for the six discipline Games.
