Horse Racing Ireland to increase minimum prize money and advance Tipperary all-weather track plans

Horse Racing Ireland has announced an increase in the minimum level of prize money and advanced plans for a new all-weather track as part of their budget plans for 2021.

Welcoming the additional funding allocated by the government through the Horse & Greyhound Fund, HRI committed to a minimum level of €10,000 in prize money, though the overall figure will be down to €60.7m.

HRI also confirmed that it would be providing further capital investment for the Equine Centre and to commence the project to construct the new all-weather venue in Tipperary. There will also be provision for a new racecourse grant scheme to enhance stable yard capacity.

Point to point meetings will see an increase of €1,000 in funding per fixture, while the board has approved a €14m spend for integrity and racecourse services, including provision for an increased level of out-of-competition drug testing.

To address issues arisen from Brexit, the board has set aside €1.3m to support breeders and the sale of Irish-bred horses, details of which will be announced in the new year. Irish Thoroughbred Marketing will also increase its activities in global markets, as well as working with international buyers to safely return to purchasing bloodstock at Irish sales.

HRI chief executive Brian Kavanagh said: “The HRI budget for 2021 is set in the context of two lifetime challenges hitting the sector simultaneously and the priority is to shield the industry from the impacts of both Covid-19 and Brexit, while being cognisant of the welfare of our horses and the people that work with them.” 

He added: “2020 was a year when prudence with the industry’s finances was an absolute necessity and the resilience of our sector enabled many to get through the year. That said, 2020 was anything but normal and the spectacle of high-quality racing in front of empty stands was a depressingly familiar sight.

“Regrettably, this new normal will continue to be the theme as we head into 2021, although recent developments regarding vaccines and travel do allow some cause for optimism regarding a safe return to more normal activity.

“The allocations in Budget 2021 have been guided by the HRI Strategic Plan for the industry with growth in fixtures and prize money targeting increased participation in the sector. HRI will ensure that our prize money remains internationally competitive and we will announce a new scheme in early 2021 to provide financial support to the breeding industry and assist Irish vendors in the post-Brexit environment.

“The Irish Tote alliance with the UK Tote Group will commence from January 1, 2021, following the issue of a new seven-year Tote licence by the government in October, while the latest phase of redevelopment of Leopardstown has just been completed, although unfortunately we will not be able to showcase it to the public at the forthcoming Christmas Festival.”