Marsa horse racing track memorandum of understanding published

The parliamentary secretariat for youths has published the memorandum of understanding signed between the government Marsa Race Track Limited after the opposition accused it of having handed over the project to land speculators.

The MoU was signed by lawyer Pio Valletta, on behalf of the consortium which includes Hugh Morshead, a majority shareholder who is also director of Henley & Partners Holdings Ltd.

The opposition’s spokesman for sports, David Agius, today called on the government to publish the MoU, arguing that Henley & Partners were mostly known for the sale of passports – including Maltese citizenship – and not for their involvement in sports activities.

Agius said that Marsa Race Track Ltd was incorporated on the same day that the agreement was signed: “This shows that the company has no experience in the sports sector.”

The concession is for the design, development, construction and operation of the horse racing track in Marsa. The concession is for 65 years.

The consortium is made up of six shareholders, with Morshead holding a 72% stake. The other shareholders are F. Schembri Holdings Ltd, True to Type Ltd, Alexander Hill, Kusam Sharma and Pio Valletta.

Agius said that the government had given out parcels of land to different individuals, signing agreements that went against public interest.