Irish prize-money likely to take significant hit if sponsorship and entries fall

Prize-money in the upper echelons of Irish racing could take a significant hit when the sport resumes in the months ahead if the coronavirus crisis hits sponsors and deters foreign runners, according to Horse Racing Ireland’s chief executive Brian Kavanagh.

After the Punchestown festival was confirmed to have been lost for 2020, track spokesman Richie Galway expressed fears that the long-term impact of the cancellation could be more damaging than the cost of losing this year’s festival, partly due to the challenge of maintaining relationships with sponsors.

In total last year, sponsorship underpinned Irish racing’s €66 million in prize-money to the tune of €6.1m.