Irish Thoroughbred Marketing promotes Ireland internationally as one of the premier racing and breeding countries to do business in, as well as highlighting opportunities to a domestic market that is now showing signs of revival. One of the main aspects of ITM’s remit is to promote the racehorse ownership experience in Ireland, highlighting the options and opportunities for individuals, groups and companies alike. Going racing is just one aspect of the experience.
Generations of Irish and international owners have been attracted to the sport over the years. The type of owner involved varies considerably from groups of friends and family in syndicates to companies and individuals racing under their own name. Indeed, 2014 will have seen nearly 60 companies with runners on the racecourse under their chosen company name, an increase of nearly 24 per cent on the corresponding figure last year.
The lure of the thrill of ownership attracts different people for very different reasons. At the highest level, some will look at the flat bloodstock industry as a potential business opportunity, with the value of bloodstock sold through the Irish sales ring soaring in recent years. The investment opportunities are clear to see with huge international interest from Hong Kong, the Middle East, the UK and America, to name just a few. The Irish horse, trainer and jockey are known the world over for quality and brilliance and that belief in the Irish product has resulted in considerable international investment.
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Others will see ownership as the perfect blend of a sporting and social occasion that allows those involved to get to the heart of the sport, being a vital player in the industry. It also opens doors to other opportunities; racing is an environment where new business can be done, clients can be entertained and races sponsored. Michael O’Leary, CEO of Ryanair, is one such man who will invariably be found at many of the country’s National Hunt meetings throughout the year, supporting his own runners under the Gigginstown House Stud name. As well as that, Ryanair now sponsors races in both Ireland and the UK, with one of their headline Irish sponsorships being the Grade 1 Ryanair Hurdle at Leopardstown over the Christmas Festival.
One couple who have certainly got the bug for racing in Ireland is American-born Rich Ricci and his wife, Susannah. Rich Ricci, the former chief executive of Barclays Corporate & Investment Bank stated "I love it here (in Ireland), I wouldn't race anywhere else. It's wonderful ... great racing, great people, great prize-money and great craic." It is that combination of great racing and unique atmosphere that attracts so many to the sport.
Along with examples such as Noel O’Callaghan of O’Callaghan Hotels and Eva Maria Bucher-Haefner of Moyglare Stud and AMAG, it highlights the varied business profile of those involved in racehorse ownership in Ireland.
The possibilities are significant as are the benefits to the individual, company, customers and brand. For a company or other owner format, ITM can assist those who wish to get involved in racehorse ownership in Ireland for the first time, highlighting the many ways to be part of the experience and helping to take the first steps into the industry. In particular, ITM can help organise private trainer introductions or stable visits for individuals or groups, as well as assisting with the very straightforward owner registration process. Our advice is free and independent and can help tailor a suitable ownership package to the individual.
Another real thrill of ownership is the participation in any of the major racing festivals here in Ireland or abroad. At home, the passion and fun at one of the leading National Hunt Festivals like Punchestown, Leopardstown Christmas or a trip to the Cheltenham Festival is like no other, while the glamour, socialising and sheer pace of a top flat meeting such as the Irish Derby, Irish Champions Weekend or Royal Ascot cannot be rivalled.
Given the importance of the owner as a figure in the industry, 2015 looks ever more positive following Horse Racing Ireland’s announcement that prize-money will be increased by 10% with savings for owners and trainers also coming to 17.5% following a reduction in charges. A Racecourse Capital Development Fund of over €100m will be established to cover works to be undertaken between 2015 and 2019. This investment will include improved dedicated owner facilities to ensure that the raceday experience itself is as enjoyable as possible. The increase in prize-money and improved facilities ensures that Ireland remains to the forefront of giving a fair return on an owner’s investment.
These factors, combined with the long standing skills and talent on offer in Ireland ensure that 2015 is an ideal year to consider racehorse ownership. For further information please contact Aidan McGarry (Ownership Manager) at 00 353 45 443000, or email amcgarry@itm.ie.
Article by Aidan McGarry, Racehorse Ownership Manager, for ITM.
ITM is a not-for-profit, non-trading, limited company, with the strength and integrity of Irish Government support, and the backing of the Irish Bloodstock industry, assuring absolute integrity and impartiality. ITM is a subsidiary of Horse Racing Ireland (HRI), the semi-state organisation responsible for the administration of horse racing in Ireland.