EU court move will 'shut down' motorsport
Fears have emerged for the future of motorsport in Ireland ahead of the implementation of an EU Court ruling expected in October, which could make the sport an 'uninsurable risk' in the eyes of insurers.
The Vnuk Judgement was adopted in 2014 and will force all EU Member States to make unlimited third-party motor insurance compulsory for all vehicles, including those used on private land.
Brian Hayes MEP says that the judgement will have a disastrous impact on motorsports across the EU.
"It potentially requires that compulsory motor insurance covers all private places, including private farmland, racetracks and private car parks," Brian Hayes said.
"Many Irish racetrack representatives have said that this ruling will effectively shut down motorsport here."
Motorsport in the EU currently provides over 100,000 jobs and generates €25 billion in revenue. Ireland has over 4,500 Motorsports licence holders and holds over 300 licenced events annually.
"This ruling, unless amended, will have detrimental effects across all EU motorsport businesses," Roddy Greene, general manager of Mondello Park said.