HRI to increase prize money by €1m for 2025
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A targeted increase in prize money and a strong focus on strategic capital projects were at the top of the list when, on Friday morning, Horse Racing Ireland announced its budget for 2025.
Greater investment in equine and people welfare, with investment in industry education and training and a continuation of funding for IRE incentive schemes for breeders were also highlighted as priorities for the coming year.
Total prize money will increase to just a shade under €71 million, an increase of €1m on this year, and the focus of the increase will be on novice graded race over jumps and listed and Group 3 race on the Flat, bringing them back to pre-Covid level.
HRI is also hoping that government permission will be granted to allow the long-planned all-weather course development at Tipperary to go ahead as early as March, while further capital development is expected to take place at the Irish Equine Centre in Kill, and the People Campus at RACE, in Kildare.
The €2.7m allocation to the Point-to-Point sector is in line with 2024, while on the breeding front, the IRE Incentive Scheme will, for qualifying winners, provide €1.3m in vouchers which can be spent on Irish-bred horses at Irish sales in 2025.
There is also further investment in the Digital and IT sides, sustainability, and integrity and integrity services.
Suzanne Eade, chief executive of HRI, said: “Resources have been allocated in budget 2025 to deliver against the three key goals as outlined in HRI’s strategic plan and its aim to protect, strengthen and sustain our global leading industry.
“In order to provide consistent and responsible care of our people, horses and our environment there has been targeted and enhanced expenditure across equuip, integrity, welfare, and sustainability in both activity and capital related costs.
“Our third goal is to nurture success at all levels throughout the industry. Budget 2025 has significant capital investment set aside for the first phase of our dedicated people campus which sees HRI and the Irish Injured Jockeys develop a high-performance unit and rehabilitation facilities to support the mental and physical wellbeing of industry participants.”