Prizemoney in Ireland will reach 64.8 million euros in 2022, up from 2021 and second only to 2019. That prizemoney will be paid out for more than 390 fixtures.
Ireland Horse Racing’s 2022 budget also includes an increase in funding for the IRE Incentive Program, which will pay out €1.3 million in vouchers for Irish mixed horses at Irish sales ; program worth 1.1 million euros this year. HRI will also increase funding for the point-to-point sector to a record €2.5 million. HRI will increase funding for industry education and training to 13.4 million euros and approve a capital development plan for the new racecourse worth 12 million euros.
“This is a strong budget, focused on restoring prizemoney, supporting growth for those who make a living from racing and ranching, investing in the integrity and welfare of horses, and the program. Racecourse capital is focused on ensuring suitable industrial facilities,” said Suzanne Eade, chief executive officer of HRI. “Structuring the industry budget for 2022 is not without its challenges, but I am delighted that we have been able to support the 390 fixtures planned for 2022 and with it the opportunity for horses and people of all levels in the industry, while increasing average winnings and bringing total owner bonuses back to the second-highest in history. From our ownership base, we know how important bonuses are in attracting new people to our industry and retaining existing owners, while also restoring the bounty, We will invest in making sure that the owner base stays strong.
“Like most companies, we were hoping to benchmark the industry budget for 2022 with the Covid-19 pandemic behind us but that is sad. The impact of Brexit is far behind us both in terms of its impact on the racing and livestock sectors, so we were a little hesitant to keep the IRE Incentives Program for 2022 based on the enormous success it enjoyed in its first year of operation, with an increased number of coupons to be paid out in the coming year.
“After experiencing such great difficulties in 2020 and early 2021, it is a pleasure to see sales increase strongly in the second half of the year, confirming huge confidence in our product. I. There are other challenges as well because Brexit and insurance are among the challenges we and many other industries are facing. We extended our support for Point-to-Point to €2.5 million – the highest ever – recognizing that insurance costs present a specific challenge in this sector.
“HRI is also aware of the need to improve standards for all who work in the industry, especially when they enter races. We will therefore launch a new industry-focused capital development plan worth €12 million including projects to be implemented in 2022/23, of which HRI will deliver 4.8 million euros through 40% grants. This scheme will target improvements to the main industrial areas of the racecourse infrastructure such as the weight room and the stability court, as well as financing the racecourse itself including the enhancement of the watering system. ”
Not a subscriber? Click here to subscribe to PDF or daily alerts.
