The Association of Irish Racecourses (AIR) has put £40 million (€50 million) into the development of Ireland's racecourses in the last four years, matched by a corresponding amount from the State.

The association represents the 27 courses, North and South, the main concern of which is retaining control over media rights - the broadcasting of racing - and the fixture listing.

AIR chairman, Mr Gerry Desmond, says the Minister for Finance's proposals for the future of the industry are "obviously very exciting insofar as there is a promise of increased Government grant aid" to horse and greyhound racing.

He adds: "The racecourses' view is that apart from the ownership of the courses themselves, the other important issue is the media rights. It's an important source of income for racecourses and more likely to become more important with the increase in Internet and telephone betting, worldwide and on a 24-hour basis."

Media rights are currently understood to be worth £1.7 million annually. "We expect that it will grow quite substantially in the coming years," Mr Desmond says. A Fixtures Committee currently operates under the Irish Horseracing Industry Act. "We would be keen to ensure that there would be transparency and a general level of confidence in the workings of that committee. Fixtures are vital, especially to smaller courses."

"The Minister in his original proposals . . . they were very vague, they weren't very specific. But his intentions are very good and the record of himself and the Minister for Agriculture in regard to racing are very positive indeed.

"We know there is a tremendous amount of goodwill from the Government, so we were anxious to see where we could progress the whole thing. With a view to doing that, we set up a joint committee with the Turf Club."

Proposals from the joint committee have been submitted to Mr McCreevy. "We are just hoping that things will work out," Mr Desmond says. "In this business you have to be hopeful. You have to be an optimist. One has to take a positive approach."

Mr Desmond denies there is any split in the AIR. There is absolute unanimity in their approach to media rights and fixtures, he says, although some may have issued statements saying they welcomed the Minister's proposals unreservedly.