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Thursday, December 7, 2023

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Horse Racing: The PTP Unable To Propose A Cost-Sharing Agreement To The MTCSL

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The Côte d’Or International Racing and Entertainment Complex Ltd (COIREC), who took over the management of the Champ-de-mars racecourse by kicking out the Municipality of Port-Louis after more than a century, has given the responsibility of the maintenance of the racetrack to the People’s Turf PLC Ltd (PTP) and imposed that the MTC Sports and Leisure Ltd (MTCSL) pays a fee to the PTP.

The fact that the Mauritius Turf Club (MTC) and MTCSL made several upgrades throughout the 209 years that they were responsible for the maintenance of the track did not made any difference against the six months that the PTP took the responsibility.

There was a meeting between the MTCSL and the PTP at the PTP headquarters at the Champ-de-mars on Wednesday. If the PTP said that the MTCSL came to propose a cost-sharing agreement, the MTCSL set the records straight in a press release.

No proposition was made by the PTP concerning the cost-sharing agreement imposed by the COIREC to the MTCSL. Many figures were seen in the press, but the PTP was itself not aware of any cost-sharing agreement before Tuesday.

The MTCSL press realease: “ The MTCSL confirms that a meeting took place today (Wednesday) between the MTCSL and People’s Turf PIc Ltd (PTP). Contrary to the presentation made of this meeting by the CEO of PTP, the MTCSL did not come to this meeting to ‘propose a cost-sharing agreement’ but to know the conditions of the cost-sharing agreement that COIREC imposes on the MTCSL in his non-negotiable lease. The MTCSL board must quickly take a decision on COIREC’s proposal, and it is in this context that the MTCSL has asked PTP for this information. PTP informed us during this meeting that, until yesterday (Tuesday) afternoon, PTP was not aware of the existence of a cost sharing agreement and that a letter was received to this effect from COIREC only yesterday and that PTP will need time to be able to make a contract proposal to the MTCSL following a board meeting. The CEO of PTP was unable to tell the MTCSL when this board meeting would take place or when the PTP would return to the MTCSL. The MTCSL will communicate more fully on this at the appropriate time.”

There was no reply from the PTP after this press release.

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