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  1. #41
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    Significant changes to funding of Racing Industry announced by Horse Racing Ireland



    Prize Money to be reduced by 7%


    Short term suspension of Racecourse Capital Development Programme


    Pay Freeze for 10 Months


    Operating Costs to be reduced by €1.3 million


    Breeders Prize Scheme discontinued


    Horse Racing Ireland (HRI) today announced a series of budgetary measures for 2009. These are in response to the challenging economic environment and the reduction in funding to the industry announced in Budget 2009. The measures include a range of cost saving initiatives, a reduction in prize money, a freezing of grant aid to organisations supported by HRI, a pay freeze for HRI staff and restrictions on racecourse capital development projects.

    HRI’s Chief Executive, Brian Kavanagh stated: “Irish racing and breeding has shown consistent growth in recent years. Today Ireland’s breeding industry is the third largest in the world and Irish trained horses have won two thirds of the Group 1 flat races run in Britain and Ireland this year. Central to this growth and success has been the long term security of funding provided by the Horse and Greyhound Racing Fund”.

    The Irish horse racing and breeding industry employs over 16,500 people directly and indirectly and 1.5 million people go racing in Ireland every year.

    Brian Kavanagh continued: “While cutbacks are regrettable, they are unavoidable in the current climate. An improvement in the economic environment and the continuation of secure, long term funding are central to a return to growth in the industry. HRI is already working with Government to achieve this aim and in particular to ensure the resumption of the Racecourse Capital Development Programmeas soon as possible. ”

    The key features of the 2009 HRI budget are as follows:-

    1.Prize Money
    Total prize money will be reduced by €4.2 million to €56.5 million in 2009. On a like for like basis this represents a 7% reduction from 2008, which will be applied across all categories of races. Funding for point to point racing will also be reduced.

    2.Racecourse Capital Developments
    The Racecourse Capital Development Fund will be curtailed. Any projects on which work has already commenced will be concluded, but no new projects will be approved in the short term. The Racecourse Capital Development Fund is financed by long term borrowings and until the issues surrounding the future of the Horse and Greyhound Racing Fund are addressed, borrowings to cover necessary future developments cannot be put in place.

    3.Cost Savings
    Cost savings of €1.3 million will be achieved within HRI through reductions in central overhead and administration costs, and reduced activity in marketing.

    4. Pay Freeze
    A ten month pay freeze will be applied to all staff employed by HRI, Tote Ireland and HRI Racecourses Ltd, with the implementation of the first phase of the National Wage Agreement deferred for seven months.

    5. Integrity Costs
    The funding of integrity costs incurred by the Turf Club will be reduced by 5.8% in 2009 with most of the savings to be achieved from greater efficiencies rather than a reduced level of activity.

    6.Racecourse Support Schemes
    A number of racecourse support schemes including the sponsorship incentive scheme, the winter racing grant, the share of tote betting and the big screen support scheme will be restricted or amended.

    7. Grants to Industry Bodies
    All grants paid by HRI to industry bodies such as RACE, the Irish Equine Centre, the Blue Cross, the Order of Malta, the Irish Farriery School and the Irish Horse Welfare Trust will be frozen at 2008 levels.

    8. HRI Charges
    In view of the difficulties being faced by clients, all charges levied by HRI including race entry fees, registration charges, bookmakers’ permit fees and the Thoroughbred Foal Levy will be held at 2008 levels.

    9. Breeders Prizes Scheme
    In view of the anticipated decrease in income from the Thoroughbred Foal Levy next year the Breeders Prize Scheme will be discontinued with effect from 1st January 2009.

    10. Sponsorship
    HRI recognises the importance of sponsorship to Irish racing in recent years and in order to protect the historically healthy levels of race sponsorship, HRI will work together with racecourses and their sponsors to tailor packages to reflect the current difficult environment.

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  3. #42
    Tech Admin Gareth Flynn's Avatar
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    Short term suspension of Racecourse Capital Development Programme
    Is that what did for the Curragh, or was that other factors?

  4. #43
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    Something I posted on another forum

    A few items here:

    The pay freeze is a red herring as we all know. They will do very well for themselves next year compared to the private sector as the national agreement is only the deferral of a 6% two year increase for civil servants.

    They should not cut marketing. This is always the first thing cut by businesses and if they can't get advertsie themsleves, whether it is for racecourse attendance or syndicates, then we will take a huge step back. Marketing needs a phased reduction but a minimum level to promote the game.

    Sponsorship needs to be seriously reviewed as the likes of Punchestown could get decimated as the builders and banks pull out. This links into prizemoney. At this time, they should drastically reduce the bottom level of prizemoney to get rid of all the bad horses. I've advocated this for a long time. Secondly, they should drop the top level. They should try to maintain the levels in the mid bracket as this is where your 100-130 rated NH horses earn their crust.

    A bigger problem is that the link between betting turnover and horserace funding has been broken and it is now a "grant" which will be reduced over time.

    Just some of my thoughts at a very worrying time for our industry.

  5. #44
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    Good to see Leopardstown get a sponsor so quickly...impressive.


    Toshiba to Sponsor Irish Champion Hurdle at Leopardstown


    Leopardstown Racecourse announced today that TOS Ireland, the Irish Distributor of Toshiba’s MFP’s, Copiers, Fax and Projectors, will sponsor the Irish Champion Hurdle, which will be run on January 25th 2009.

    Formerly the AIG Champion Hurdle, now named the Toshiba Irish Champion Hurdle this Grade I contest with a prize fund of €120,000 always attracts the top hurdlers of the day. The 2008 contest saw “Sizing Europe” take the spoils from previous winner “Hardy Eustace” and the other joint favourite “Al Eile”.

    Martin O’Sullivan, Managing Director of TOS said: “We have been strong supporters of horse racing in Ireland for many years now and it gives me great pleasure to be associated with this high profile Grade I race in 2009.”

    Leopardstown Manager Tom Burke said: “Toshiba is a very welcome sponsor for this prestigious race which always attracts the top hurdlers in training. I would like to pay special tribute to AIG Ireland and particularly Managing Director Seán Hehir for supporting this race for16 years and helping to make it one of the highlights of the National Hunt Season.”

    Leopardstown Commercial Manager Ciaran Conroy said: “We welcome Toshiba, as a world-class brand, to this race, which is one of the best promotional vehicles available in Irish sport today.”

  6. #45
    ItalianStallion
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    Lets not fear Sheik and Saeed are here!!
    Last edited by ItalianStallion; 19th December 2008 at 4:59 PM.

  7. #46
    ItalianStallion
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    I am going to do a K.Abdullah one now

  8. #47
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    Oh my God.

  9. #48
    Tech Admin Gareth Flynn's Avatar
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    I don't think anyone expected that.

  10. #49
    ItalianStallion
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    Sorry if this picture offended anyone
    Last edited by ItalianStallion; 19th December 2008 at 5:46 PM.

  11. #50
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    Nothing offence, just a bit weird and not sure what it has to do with Irish racing's problems.

  12. #51
    ItalianStallion
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    Sorry last one, I think they can save anything in horse racing with their money behind them so lets not worry and continue with out fantastic sport.

    I am off out, cya guys

  13. #52
    Senior Member Isinglass's Avatar
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    I'm not sure these two 'supermen' would want anything at all to do with saving Irish racing as must be seen as too close to rivals Coolmore!

    Nice cartoons though ...... are you really Frankie?????
    Last edited by Isinglass; 19th December 2008 at 7:01 PM.
    Speak your mind, but ride a fast horse. ~ Anon

  14. #53
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    Surely a super-Aga Khan cartoon would be slightly more relevant in the context of this thread?

  15. #54
    Senior Member uncle goober's Avatar
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    Do you have a Princess Haya one ?
    I could be the judge!

    I don't know half of you half as well as I should like, and I like less than half of you half as well as you deserve.

  16. #55
    Super Moderator Irish Stamp's Avatar
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    Playboy Centrefold Princess Haya would that be Uncle?
    Hurricane Fly - whatever he runs in he wins

    Twitter: @Quevega

  17. #56
    Senior Member uncle goober's Avatar
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    Whats Playboy Centrefold ?
    I could be the judge!

    I don't know half of you half as well as I should like, and I like less than half of you half as well as you deserve.

  18. #57
    Senior Member Sheikh's Avatar
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    Quote Originally Posted by Isinglass View Post
    I'm not sure these two 'supermen' would want anything at all to do with saving Irish racing as must be seen as too close to rivals Coolmore!
    Coolmore are not Irish racing, the Dubai interests here are vast and very welcome.

  19. #58
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    They're pumping serious money into the Irish Derby, which is more than nice.

  20. #59
    Senior Member Isinglass's Avatar
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    Yes, okay, you have apoint what with Derrinstown and Kildangan - and maybe Darley would like to bail out those who are sinking. We'll see.
    Speak your mind, but ride a fast horse. ~ Anon

  21. #60
    Senior Member granger's Avatar
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    Toshiba have taken over sponsorship of the Irish Champion Hurdle
    Some people say he’s the best since Arkle and that’s certainly true when you look at what he’s done

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