The Turf Club yesterday confirmed their welcome for the Minister for Finance's recent financial offer to racing but stressed any possible merger between them and the Irish Horseracing Authority will have to allow the Turf Club a certain independence in regard to regulating the sport.

A Turf Club statement yesterday said: "Racing in Ireland has an international reputation second to none for integrity and that reputation has been built up over many years. The stewards said protection of this reputation was paramount to them and emphasised the need to maintain the independence of structures which have traditionally guaranteed their integrity."

Chief Executive Brian Kavanagh said afterwards that the Turf Club will continue to have discussions with the IHA and stressed he will be approaching those talks in a "very positive manner". He did add, however, that he will be seeking clarification on the details of any new amalgamation of racing's ruling bodies.

"In order to regulate the sport, there does need to be a level of independence. From the time a horse enters training to when he leaves involves the application of the rules of racing and we need to maintain a certain independence to allow the stewards do that," Kavanagh said.

The Minister for Finance Charlie McCreevy revealed at the weekend that all the revenue generated from the off course betting tax will be put back into racing if all the sports various bodies agree to merge. A sum of £53 million was generated for the Department of Finance from off course betting in 1999.