Prize money for Listed and Group 3 races will return to pre-Covid levels in 2025 as Horse Racing Ireland announced budget details for the up-to-date year on Friday. The total prize money budget for 2025 is 70.9 million euros, which is 1 million euros above the total prize money that will be paid out in 2024.
At the level, Listed races will see an increased minimum amount from €37,500 to €45,000 (+20%), while Group 3 races will see an raise from €50,000 to €60,000 (+20%). This will result in listed races and Group 3 races returning to their pre-Corona crisis minimum levels from 2019.
Budget 2025 will also provide for investments in key strategic areas within HRI's capital allocation. The welfare of horses and people is a priority in the planned redevelopment of the Irish Equine Center in Kill and the People Campus at RACE in Kildare, while the all-weather track project in Tipperary will begin in spring 2025, subject to government approval.
Sustainability initiatives and digital transformation were also identified as key areas that will also be resourced in line with the priorities set out in HRI's strategic plan.
Suzanne Eade, Chief Executive of Horse Racing Ireland, said: “Budget 2025 allocated resources to achieve the three key objectives set out in HRI’s strategic plan and its aim to protect, strengthen and sustain our world-leading industry.
“To ensure consistent and responsible care of our people, horses and our environment, targeted and increased spending on equipment, integrity, welfare and sustainability has been made across both activity and capital related costs. Through continued support of the IRE Breeder Incentive Program, marketing and communications campaigns aimed at engagement, growing interest in our sport coupled with a continued focus on attracting racegoers to Flat racing, care has been taken to attract future participants to encourage and attract continued investment in technology at national and international levels.”
She added: “Our third aim is to promote success at all levels of the industry.” Budget 2025 includes significant capital investment in the first phase of our dedicated People Campus, where HRI and the Irish Injured Jockeys will be a high performance unit and Develop rehabilitation facilities to support the mental and physical well-being of industry participants.
“Further investment in our racecourse facilities, including the all-weather development in Tipperary, is also a priority for 2025. HRI has consulted with key stakeholders to determine both the prize money strategy and funding of the handicap band changes for 2025, including optimizing the impact of racecourse contributions on prize money.” These changes are seen as crucial to attracting foreign investment into Irish racing, expanding the ownership base and retaining owners and horses.”
