RACEHORSE owners and trainers say Horse Racing Ireland [HRI] must give priority to increasing prize money levels when it decides how to spend the €79.3 million it was allocated by the Government this week for 2026.

The Government grant is the same as last year, the first time it has been frozen since the Covid year of 2020. With inflation running at around 2.7%, the allocation is effectively a decrease in real terms, so HRI may have to cut back on other areas if they are to increase their prize money contribution.

Feidhlim Cunningham, CEO of the Irish Racehorse Trainers Association, expressed appreciation for the Government support. “The number one priority for the industry remains prize money, and we are confident that HRI will manage their budget effectively to deliver significant increases in prize money levels for 2026 and beyond.

“As we have continually stressed, inflation and rising costs have made life increasingly difficult for our members, and the industry as a whole. The onus now lies with HRI to ensure that prize money is prioritised for the benefit and sustainability of the sport. We look forward to seeing them deliver on this commitment.”

David Hyland, chairman of the Association of Irish Racehorse Owners, commented: “This was not a giveaway budget by any means and we understand the financial constraints the Government, and especially the Department of Agriculture, were under. We must concede that, although the Government funding remains stagnant for 2026, we are grateful for their continued support of the industry.

“HRI now have the unenviable task of distributing these funds and we will continue to lobby and negotiate for the interests of owners. It is no secret that we are encountering very difficult times at present, the exponential rising costs are causing chaos to the retention of owners which is evident in training facilities right across the country and is filtering right down through every facet of this industry.

“Prize money is key. We will be making a submission to HRI in the next few days to highlight owners’ concerns ahead of their budget decisions.”

Capital spending

The only difference to HRI’s grant is that €14 million of that sum will be ringfenced for capital projects, down from €16 million last year, which in theory frees up €2 million for HRI to spend on ‘current’ priorities.

HRI’s Strategic Plan 2024-’28 projected Government funding of almost €84 million for 2026, including €15 million for capital funding, leaving a €5 million black hole in the semi-state’s finances.

However, HRI is understood to have received a similar sum in a recent land deal involving Leopardstown Racecourse and local authorities, although this deal has not been finalised.

Attention will now turn to Horse Racing Ireland’s own budgetary process, which is usually finalised in early December.

Asked by The Irish Field to explain why funding for racing had been frozen and if this was a pattern likely to be repeated for the remaining four years of the current Government’s tenure, Minister for Agriculture Martin Heydon said: “This Budget is one that has been very constrained. If I look at the administrative element of the running of my department, we are very constrained in what we have been asked to do, in terms of our asks around staffing and other investments. We’ve had to manage that really, really tightly. Every state department is the same because we’re not having the kind of increased spending that there has been in previous years, so that is reflected in our semi-state allocations. All the semi states are in that space now.

“I managed to get a €2 million increase on the current spending side, which does give some flexibility in terms of how HRI allocate that money.

“I’m still a huge supporter, obviously, of this sector. We’ll continue to work with them. There’s a number of projects in the mix there that I’m very supportive of and we can continue to do that. And it still is a very, very sizable allocation for what is a really important sector.”

HRI issued the following post-Budget statement: “Horse Racing Ireland acknowledge the continued support of the Department of Agriculture, Food and the Marine through the Horse and Greyhound Racing Fund and note today’s (Tuesday, October 7th) budget announcement of no increase to the total fund allocation of €99.1m for 2026, of which €79.3m (80%) is allocated to the horse racing sector, with €14m ringfenced for capital development. HRI’s budgeting process for 2026 is under way and will be focused on prioritising spends on key strategic deliverables in line with the HRI Strategic Plan 2024-2028.”

GOVERNMENT FUNDING FOR HORSE RACING IRELAND

Racing’s annual grant

2014: €43 million

2015: €54 million

2016: €59 million

2017: €64 million

2018: €64 million

2019: €67.2 million

2020: €67.2 million

2021: €76.8 million

2022: €70.4 million

2023: €72.8 million

2024: €76 million

2025: €79.3 million

2026: €79.3 million