HORSE Racing Ireland will shortly announce details of an incentive scheme which will see winning racehorse owners given vouchers to be used at Irish bloodstock sales.

The plan was revealed by HRI chief executive Brian Kavanagh when he appeared before the Oireachtas Public Accounts Committee this week.

The Irish Field understands that the scheme will involve giving sales vouchers to the winning connections of certain Irish races. Details have yet to be finalised for the initiative which will be run by Irish Thoroughbred Marketing.

It’s thought there could be over €1 million distributed through the scheme which will cover more than 100 races.

Asked by Sinn Féin TD Matt Carthy what HRI was doing to support grassroots thoroughbred breeders, Kavanagh said: “Small breeders are the backbone of the industry and we have expanded the race programme at the lower level. Some 90% of races are for horses below the elite level and we will shortly launch a new support scheme for breeders.”

When Jennifer Carroll McNeill, Fine Gael TD for Dun Laoghaire, asked for more details, Kavanagh added: “Breeders have been particularly badly affected by both Covid and Brexit. Last year the value of bloodstock sales in Ireland dropped by 35% from €165 million to €106 million.

“We will shortly be launching a breeders’ support scheme which will support all Irish-bred horses. There will be incentive payments to encourage buyers to come back [to Irish bloodstock sales] the following year. It aims to stimulate trade and reinvigorate horse sales. The horse owner will be incentivised to buy in Ireland instead of Britain and France.”

Accompanied by HRI’s chief financial officer, Kavanagh appeared before the PAC to answer queries about the authority’s 2019 accounts. In a two-hour session he answered questions from TDs on a wide range of topics, including the Curragh Racecourse, HRI salaries and staff numbers, point-to-points, the Tote, and the provision of CCTV in racecourse stableyards.

Asked about the Curragh Racecourse finances, Kavanagh said that while the track had endured trading losses every year between 2016 and 2019, it had generated a “cash profit” in 2020 “and it will be profitable, going forward.”

Addressing the ongoing problem of the grandstand roof, which emits a piercing whistle when the wind is blowing in a certain direction, Kavanagh said: “The Curragh and the developers are working through a solution. The Curragh has reserved it position on any extra costs, but there will be no additional cost for HRI.”

First appointed to the role in 2000, when HRI was established, Kavanagh confirmed to the committee that he does not plan to seek a fourth seven-year term of office when the current term expires this year.

“I gave a commitment to that effect the last time I was appointed,” he said. “But I’m committed to dealing with the issues. There are significant issues facing racing in the coming months and that’s my primary focus at this time.”

HRI v PAC: what we learned

  • Brian Kavanagh does not plan to seek a fourth term as HRI chief executive, though it will ultimately be the board’s decision. He is due to step down in the autumn.
  • The Curragh Racecourse returned a cash profit in 2020 and will continue to be profitable, according to HRI. The ‘whistling grandstand’ issue is being dealt with by the Curragh and building contractors.
  • HRI lost €389,000 when cash transit firm Senaca went into liquidation in 2019. Normal insurance does not cover such a loss.
  • HRI will shortly announce a new support scheme involving giving winning owners a voucher to be used at future sales here.
  • A tender for the installation of CCTV in all racecourse stableyards will be advertised in the coming weeks.
  • A proposed ban on gambling advertising poses a significant risk to Ireland’s racing industry.