THE prizefund for the inaugural running of the Irish EBF Ballyhane Stakes (Median Auction Race) at Naas on Sunday, August 23rd, has been increased from €200,000 to €320,000, making it the most valuable two-year-old race in Ireland this year.

There are already 563 entries for this new event, which is open to the progeny of sires with a median of no more than €75,000 at last year’s yearling sales. The first forfeit stage is next Wednesday, July 15th.

The winner will receive €150,000 and prize money will be paid to all 20 runners, with connections of the final five horses to finish each receiving €2,000. There will be a 72-hour declaration stage for the Irish EBF Ballyhane Stakes and overseas-trained runners will be permitted.

Due to the unprecedented level of entries, a consolation race with a value of €80,000 will also now be run at Naas on the same card. The Silver Irish EBF Ballyhane Stakes (Median Auction Race) will be automatically open to all those horses still entered which receive a ballot number in the Irish EBF Ballyhane Stakes.

A 48-hour declaration will apply and once again, overseas-trained runners will be permitted to participate. Prize money will be paid down to 10th place.

The forfeit fee next Wednesday, and for the final forfeit stage on August 18th, has been reduced from €500 each to €200 and €100 respectively, bringing the total cost of running down from €1,500 to €800.

As per the original race conditions, the final two forfeit fees (now totalling €300) will be refunded to the owners of any horses that are eliminated from the Irish EBF Ballyhane Stakes if those horses are not declared in or are balloted from the Silver Irish EBF Ballyhane Stakes.

Joe Foley, owner of Ballyhane Stud, said: “We have been thrilled with the response to the race and delighted to reward the owners and trainers who have entered with the increased prize money for the main race and with the extra race.

“There are some exciting two-year-olds already targeting the contest and it should be a great occasion at Naas in August.”

Jason Morris of Horse Racing Ireland said: “We are delighted to be able to announce a consolation race to reflect the demand for this new event, along with a doubling in the total prize money fund from the original figure of €200,000 to €400,000 between the two races, and a significant reduction in the cost of entry. HRI is very grateful to the Irish European Breeders Fund and Ballyhane Stud for their continuing support of this exciting new initiative.”

Naas Racecourse manager Eamonn McEvoy added: “We were thrilled when it was announced that we would be hosting a €200,000 race but to actually see that rise to a €320,000 race is absolutely fantastic.

“Joe Foley, Nessa Joyce and the team at HRI have put great effort into making this a reality and deserve great credit. The board at Naas Racecourse are delighted, and we look forward to hosting the richest race in Naas Racecourse’s history.”