HRI announces 10% overall cut in prize money

Horse Racing Ireland on Tuesday announced a series of cost-saving reductions for 2010 following the 13% (7.1million Euro) cutback in Government funding to the racing sector.

Horse Racing Ireland on Tuesday announced a series of cost-saving reductions for 2010 following the 13% (€7.1m) cutback in Government funding to the racing sector.

The measures include the cessation of funding for racecourse improvements and capital development projects, the reduction of direct financial support for racecourses and a 10% overall cut in prize-money.