OWNERS, trainers and breeders have given their backing to a detailed plan unveiled by Horse Racing Ireland on Friday which will see prize money increase from €70 million last year to €85 million by 2028.
The prize money strategy will see a near-equal split in increases between flat and NH this year, a major investment in starter races, pyramidical increments in the handicap bands, and increases in minimum values across the flat and NH Pattern.
Purses for graded races over jumps and group races on the flat will see significant increases. At the other end of the scale there will be major boosts for ‘starter’ races such as maidens for two- and three-year-olds, especially when sponsored by the Irish EBF.
The first year of the strategy, in 2026, will be financed by a €2 million increase in HRI’s contribution; a 10% lift in entry fees across most categories; an increase in contributions from racecourses; and an extra €100,000 in Irish EBF sponsorship, bringing their contribution to €3.2 million.
Over the three-year lifetime of the plan, all contributing stakeholders – HRI, owners, racecourses and commercial sponsors, and Irish EBF – will maintain the recent trajectory of their percentage contribution to Irish prize money.
The owners’ contribution, for example, was 23.9% of the total prize money in 2025 and will rise to 24.9% in 2026 before dropping back to a projected 23.7% in 2028.
New prize money values will begin from March 1st.
Suzanne Eade, chief executive of HRI, said: “Horse Racing Ireland needs to ensure that Irish racing remains competitive. The increases to race values announced for 2026 will go some way to addressing the competitiveness, but it is the first year of a three-year plan, and I am greatly encouraged by the manner of the engagement with industry stakeholders since summer 2025 and their willingness to buy into an all-industry plan for prize money.”
David Hyland, chairman of the Association of Irish Racehorse Owners (AIRO), added: “We were closely involved in the discussions and planning process around the three-year prize money strategy and recognise that owners will be asked to contribute more over the lifetime of the plan.
“We are cognisant that owners’ costs continue to rise and that there will be an initial adjustment as the plan is implemented. It is important to note, however, that by the end of year three, the owners’ percentage contribution to prize money is projected to return broadly to the same level as in 2025, reflecting the growth in the overall prize money pot.”
Joe Foley, chairman of the Irish European Breeders Fund (IEBF), said: “By putting prize money firmly at the centre of its priorities, HRI is sending a clear signal that competitiveness and investment in Irish racing matters. The scale of the increase, particularly for two-year-old maiden races, will be felt right across the industry and is critical to supporting owners and breeders who underpin Irish racing.”
Paul Hensey, chief executive of the Association of Irish Racecourses (AIR), commented: “There are challenges for many racecourses and that will continue in 2026, but there was a strong sense among the membership of AIR that racecourses play a role in an industry-wide prize money strategy.
“Racecourses flourish when the ecosystem is healthy and there is no denying the vital role that prize money can play in driving participation and investment in racing and bloodstock in Ireland. It is important for all sectors of the industry that Ireland’s racecourses can continue to offer a quality product and good levels of prize money, as there is strong international competition across every part of our business.”
Feidhlim Cunningham, CEO of the Irish Racehorse Trainers Association (IRTA), said: “The €4.3m increase in prize money is a welcome and significant step forward for Irish racing. Importantly, this is the first year of a three-year strategy to raise minimum prize money values and this initial commitment gives us confidence that further progress can be delivered year on year. We have been open about the financial pressures facing our members amid rising costs and the importance of maintaining our position on the international stage. We commend the HRI board for prioritising prize money in their 2026 budget and beyond.”
Prize money strategy:
The main points