Prize-money to rise by €3m as HRI doubles down on policy with Brexit looming

Brian Kavanagh: 'We’ve made the submission to the government that the staff in the industry should be recognised as part of agriculture.'

HRI chief executive Brian Kavanagh feels prize money is key to Irish racing staying competitive in the international marketCredit: Martini

A wide-ranging five per cent hike in prize-money worth nearly €3 million will see Irish racing’s already record level of prize money climb to €66.1m in 2019 as Horse Racing Ireland prepares for the Brexit battleground.

In October, HRI's funding from central government was increased for 2019 by €3.2m to €67.2m, so the €2.9m prize-money increase confirms where its emphasis remains.

When the recession hit, prize-money peaked at €60.4m in 2008. It then plunged to a low of €44.4m in 2011, but has risen steadily again as the administrative authority concentrated on attracting owners and keeping the best horses in Ireland.

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Richard ForristalIreland editor

Published on 14 December 2018inNews

Last updated 17:56, 14 December 2018

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