THE Curragh expects to post a trading profit of approximately €700,000 for 2025 but an annual depreciation charge of €3.6 million will continue to keep the racecourse accounts in the red.

Redeveloped at a cost of over €80 million in 2019, the Curragh is part-owned by Horse Racing Ireland, which holds 37.4% of the shares. The remaining 62.6% is held privately by shareholders including the Aga Khan Studs, Moyglare Stud owner Eva Maria Bucher-Haefner, John Magnier, J.P. McManus and Michael Tabor.

Curragh CEO Brian Kavanagh told The Irish Field this week that the racecourse had “a good year financially with a similar outturn to 2024 projected.”

He added: “The Curragh has a significant depreciation charge each year which goes through the profit and loss account. However, that is a non-cash item, and our focus is on the profit before depreciation.”

He said that increased admissions and media rights revenues were offset by lower Curragh training fees and increased energy costs and higher contributions to prize money. Media rights revenues suffered from an adverse sterling exchange rate, particularly in the second half of the year.

Just before the start of the 2025 flat season the Curragh announced it was increasing prize money. Listed races went up to €50,000 and Group 3 races were worth a minimum of €60,000. Handicaps were also tweaked to ensure that better quality horses were favoured.

Asked about prize money plans for 2026, Kavanagh said: “We would hope to grow prize money again at the Curragh next year and will be working closely with Horse Racing Ireland and with our sponsors to achieve this.”

The board of Horse Racing Ireland is due to meet on Wednesday, December 17th to sign off on spending plans for 2026. It is anticipated that a statement will be issued later that week outlining the organisation’s budgetary priorities for the next 12 months.

Next year will see Ireland stage a race meeting on Good Friday (April 3rd) for the first time following a successful application by the Curragh to open its doors on that day. Kavanagh has indicated that the Curragh hopes to put on a card with enhanced prize money on that day.

The Curragh has also picked up Tipperary’s Super Sunday slot in early October. Tipperary will not race in 2026 to allow construction of its new all-weather track.

The Curragh had been due to race on the previous day but that meeting has been switched to the Sunday, which clashes with the Arc meeting in France.

Kavanagh explained: “We have moved into the Tipperary Sunday slot while Tipperary is under construction and will add the Concorde Stakes to our programme on that day.

“We feel that this is a better commercial prospect than the Saturday which is one of our weaker dates of the year and clashes with Gowran Park.

“There will be plenty of Irish interest in the Arc meeting and people will be able to come to the Curragh and enjoy it together with our own good quality racing.”