Irish racecourse fund of €100m announced

The increasing consensus that Irish racing is emerging from the worst of the economic downturn will be further boosted by confirmation from Horse Racing Ireland (HRI) of a €100 million Racecourse Capital Development Fund to cover work between 2015 and 2019.

All 26 racecourses in the country are eligible to apply for funding under the new scheme, although much of the focus is likely to be on major redevelopments at both Leopardstown and the Curragh, with the Minister for Agriculture Simon Coveney recently pinpointing the latter as a major priority for redevelopment. HRI,which governs racing in Ireland, will fund 40 per cent of approved projects.

Prize money

The move comes on the back of increased funding commitments to racing from the Government at the last budget, something reflected in HRI’s own budget plans for 2015, which will include a €5 million (10 per cent) increase in prize money next year to a projected €53.9 million. The minimum race value is being increased from €7,500 to €8,000.

The most notable negative for racing in 2014 has been the controversies over steroids and speculation on the extent of use of banned medicines within the thoroughbred industry in Ireland. Details of HRI’s 2015 budget includes €7.1 million set aside for integrity services which it says includes a “significant capital provision to allow for the purchase of laboratory equipment to enhance the drug testing capabilities of the Irish racing and breeding industry.”

There has been recent tension between HRI and racing’s regulatory body, the Turf Club, over funding for proposed improvements to facilities at the BHP laboratory in Limerick, which tests all samples taken from racehorses here. A letter requesting arbitration on the matter was sent to HRI from the Turf Club a number of weeks ago.

However, a further €3.4 million has now been allocated for “integrity-related services” including money for the purchase of new starting stalls and enhanced levels of picture production.

“The requirement to enhance our drug testing systems is a priority given the events that unfolded in Ireland and overseas this year, and we are determined to create and fund a world class system to address the needs of the industry,” said Joe Keeling, chairman of HRI.

Further reductions

Keeling also pointed to further reductions in administrative charges for owners and trainers in 2015, amounting to 17.5 per cent, and achieving savings of over €500,000.

HRI’s chief executive Brian Kavanagh said: “The increase in funding through the Horse & Greyhound Fund allows us to plan for the development and enhancement of Irish racing, capitalising on the uplift in the economy. Improving racecourse facilities is of the utmost importance, with the Curragh and Leopardstown obvious priorities, reflecting the international status and high standard of the races staged there.

“I am particularly pleased we have been able to increase prize money. Owners are the lifeblood of our industry and the increased race values, coupled with reductions in charges, will hopefully encourage new owners to the sport and existing owners to reinvest.”

Willie Mullins’s Clondaw Warrior is among four Irish-trained runners in Ascot’s valuable Ladbroke Hurdle, but the champion trainer’s principal focus will undoubtedly be on Fairyhouse, where the prize money might not be as lucrative but the potential big-race hints in the future are likely to abound.

Hard to beat

Mullins has a trio of young horses – Uradel, Arbre de Vie and Stone Hard – that should be hard to beat, but his main interest will be on Un de Sceaux who will be on short odds to get his chasing career back on track after a debut fall at Thurles.

“Everyone likes to see horses stand off fences and clear them by miles and that was what he was doing until he made a mistake,” Mullins said. “Hopefully it might have taught him something. Horses need to be able to go in short and pop one too.”

Val de Ferbet is the Closutton representative in the three-mile Beginners Chase, but a step up in trip looks to be just what Noble Emperor requires to build on his obvious promise. Tony Martin’s charge has ground to make up on Thunders And Roses from his track debut over fences, but should strip a lot sharper for that experience.