Govt reject $36M World Derby budget

OFFICALS of the Arima Race Club are looking for a fairy godfather to assist in staging the World Derby at Santa Rosa Park, Arima, next February. This development came after a budget of US $5.8 million to have infrastructure put in place for the first staging of the festival events was rejected by Government. This has left Gerard Ferreira, president of the ARC deeply disappointed following a meeting on Monday called by Minister of Trade and industry Ken Valley at his Riverside Plaza office. Minister Valley had met with the World Derby Incorporation on Friday and was following up to get the views of the major stakeholders of the racing industry. Those at Monday’s conference were members of the ARC, Trinidad and Tobago Racing Authority and the  Betting Levy Board.

Among the officials were Howard Chin Lee, Minister of Tourism; and John Bell, a consultant of the ministry. The US $5.8 million requested by Ferreira was for the erection of 800 new stalls to accommodate the expected entries from 60 countries to have shown interest in the project, the first by US-based World Derby Incorporation. The cost also entailed the upgrading of the turf course and grandstand to international standards; the purchasing of a new tote board; improved lighting at the facilities; an electronic timer; new betting machines; and equipment for the uplinking the event for overseas viewing; and for the acceptance of wagering from overseas bettors in the local betting pools. The festival of events are planned over a 10- day period around Carnival time.
              
Ferreira, president of the ARC said yesterday it would take a great deal and effort at this juncture to successfully host the event. “There could be no World Derby unless we know where the money is coming from,” he said. Trinidad and Tobago got the approval for the staging of the festival of racing earlier this year from the World Derby, Incorporation. “They liked our location and felt we were the ideal place to start the project since we had both sand and Turf courses. But to bring it off would take a lot of money. “And benefits to be derived from hosting the events was that we would have seen an expansion to the sport when the events were over. The World Derby, Incorporation were to do the marketing of the events and finance all the purses for the events,” the former mayor of San Fernando said.

However on Monday there were concerns all around about the exorbitant budget presented and the absence of any tangible benefits to be derived once the events are over. There was also a comparison with the staging of the World Derby and the Miss Universe contest hosted by Trinidad and Tobago in 1999 when millions of dollars were spent and the then Government heavily criticised for supporting a venture which brought no lasting economic returns.