Posted 1/29/11 : Permanent state funding – separate from income raised through betting – proposed.
With UK and Irish horseracing levy and funding debates between Government, horseracing organisations and bookmakers in the news, the Italian agricultural minister has told parliament that horseracing needs a permanent state funding solution separate from income raised through betting – similar to how the Italian National Olympic Committee is financed reports Racing Today.
The Minister, Giancarlo Galan has submitted a bill outlining how UNIRE, Italian racing's governing body, be funded in future and proposes that UNIRE be re-organised to deal with racing on a national rather than regional scale and become a regulatory body instead of an organisation conducting managerial tasks on behalf of the government.
The Italian government has reportedly promised to inject Euro 150 million into its cash-strapped horseracing industry with the hope of rehabilitating racing in Italy.