COOLMORE Stud says it has reduced the fees for the majority of its stallions in 2017 due to the fall in value of sterling.

The Tipperary stud will manage 23 flat stallions next season, headed by Galileo whose fee remains private but is believed to be in the region of €500,000.

New to stud in 2017 is this year’s French 2000 Guineas winner The Gurkha (€25,000) and Australian two-year-old Pride Of Dubai (€15,000), a son of Street Cry.

Coolmore’s David O’Loughlin said: “Many of our clients trade in sterling so in response to its decline in value we have reduced the fees for the majority of our stallions. They are now very competitively priced and we look forward to doing plenty of business.

“We are delighted to be welcoming two exciting new horses to the roster. Pride Of Dubai is a dual Group 1-winning two-year-old from the immediate family of Invincible Spirit and Kodiac and is a very impressive individual, while The Gurkha is a beautiful, easy-moving horse with the race record and pedigree to match.”

Gleneagles gets a substantial fee cut from €60,000 to €40,000, while Australia drops from €50,000 to €35,000. Canford Cliffs will stand at €10,000 from €17,500. The only stallion going up in price is Camelot, now €35,000 from €25,000.

Missing from the roster are Rip Van Winkle, So You Think, Pour Moi and Henrythenavigator. The first three-named remain in New Zealand while last-named has been sold to stand in Russia.