HRI to drop prize money by 5% for 2011 in budgetary measure

HORSE Racing Ireland (HRI) yesterday announced a series of budgetary measures for 2011, in response to the challenging economic environment, the €1.6m reduction in funding announced in the recent budget, and a drop in HRI’s overall income.

The cost-saving measures include a reduction in prize money and continued restrictions on racecourse capital development projects.

The key features of HRI’s budget for 2011 are as follows: