Prize-money increase for 2022 as HRI reveals details of next year's budget

Horse Racing Ireland chief executive Suzanne Eade has put prize-money at the top of her priority list, with a total purse of €64.8 million on offer in 2022, as details of the budget for next year were released on Wednesday.

Government funding amounts to €70.4m for 2022, which represents a €6.4m drop from the Covid-boosted pandemic figure of 2021, but is above pre-pandemic levels. In 2020, prize-money fell to its lowest level since 2016, but minimum prize-money levels were restored this year and no race was run for less than €10,000 in 2021.

While Eade admitted the budget for 2022 presented challenges, she delivered on a commitment to bolster prize-money, with next year's total only surpassed by that of 2019.

She said: "This is a strong budget which has its focus on restoring prize-money, supporting growth for those earning their living in racing and breeding, investing in integrity and equine welfare, as well as a racecourse capital programme which is centred on ensuring appropriate industry facilities.

"Framing the budget for the industry for 2022 was not without its challenges, but I'm very happy we've been able to support the 390 fixtures scheduled for 2022 and with it the opportunities for horses and people at all levels of the industry, while at the same time increasing average prize-money and bringing the total on offer to owners back to its second highest level historically."

Eade added: "We know from our ownership base the importance of prize-money in attracting new people into our industry and retaining the owners already there, and in tandem with the prize-money restoration, we will be investing in ensuring that owner base stays strong."

HRI also revealed an increase to the IRE incentive scheme for breeders from the €1.1m paid out in 2021 in vouchers that can be spent on Irish-bred horses at Irish sales, to €1.3m in 2022.

There will also be increased funding to the point-to-point sector, reaching a record €2.5m in recognition of the difficulties being experienced by organisers in the area of insurance.

The breakdown of the Integrity and Equine welfare budget remains unclear. For 2021, integrity and racecourse services were grouped together at €14m, with the Irish Horseracing Regulatory Board receiving €9.66m. For 2022, however, integrity is pitched alongside welfare for an overall pot of €13.4m.

In an acknowledgment of a need to improve facilities at racecourses, Eade also revealed details of a €12m industry-focused racecourse capital development scheme with weigh rooms, stable yards and watering systems singled out as particular areas of interest.

She explained: "HRI is also conscious of the need to improve standards for all those working in the industry, especially when they go racing. We will therefore be launching a new €12m industry-focused racecourse capital development scheme covering projects to be undertaken in 2022-23 to which HRI will provide €4.8m by means of 40 per cent grant aid.

"This scheme will target improvements in key industry areas of the racecourse infrastructure such as the weigh room and stable yard, as well as financing work on the racetrack itself including the enhancement of watering systems."

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