HRI reinstates minimum prize-money levels for 2021 in annual budget

Horse Racing Ireland has committed to restoring minimum prize-money levels next year, but the total allocated prize-money will drop to the lowest level since 2016, the authority has revealed in its annual budget.

No race in Ireland will be run for less than €10,000 in 2021, returning to the previous base levels before the Covid-19 pandemic, with HRI chief executive Brian Kavanagh assuring that prize-money for higher-quality races will be reinstated as closely as possible to previous amounts.

Budgeted purses for 2021 have been set at €60.7 million, a reduction from the original 2020 budgeted figure of €68.1m, which was ultimately impacted by the loss of 40 fixtures this year – delivering a lower prize-money total of €50.9m.