Irish Derby prize-money will drop from €1.5 million to €1.25 million
PICTURE: Mark CranhamBig drop in prize-money for 2010 Irish Classics
HORSE Racing Ireland have announced substantial cuts in prize-money for next season's Irish Classics.
The 17 per cent overall cut of €475,000 is in line with the percentage reductions that have been applied to most other race categories for 2009, but which could not be applied to the Classics due to the fact that the races had already closed for entries.
The Dubai Duty Free Irish Derby will drop from €1.5 million to €1.25 million, while €75k will be cut from the values of the Darley Irish Oaks (down from €500k to €425k) and both the Boylesports 1,000 & 2,000 Guineas (down from €400k to €325k).
HRI chief executive Brian Kavanagh said: "Whilst the reduced values for the Classics in 2010 are very regrettable, as are any prize money cuts, the HRI Board has always sought to achieve the necessary savings across all areas of expenditure and that applies to all the race categories as well, from top to bottom."
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