Racing forced to face up to financial reality
Further cutbacks to the funding of Irish racing were announced yesterday coinciding with the introduction of a 2pc Government levy off-course.
Just as SP office operators warned of a decline in turnover and job losses, Horse Racing Ireland revealed that they would be implementing a second 5pc drop in the level of prize money during 2009.
On top of the €1.2m 'hit' which the industry suffered in the recent supplementary budget, owners will be competing for €2.7m less than they thought with their horses from the end of this month.
In all, the annual prize fund will now dip under €54m and capital development projects "will continue to be curtailed with no new projects approved in the short term," according to HRI chief Brian Kavanagh.
He also outlined an expected HRI saving of €500,000 at source through the trimming of overhead and administration costs and revealed that they had sought a €445,000 cut in the Turf Club's integrity services allocation.
intervened
Facing what HRI termed "a significant drop" in their overall 2009 income that's forecast to reach 14pc, Kavanagh has also intervened in this week's war of words at Punchestown between Betfair and the course bookmakers. Tensions were high earlier in the five-day festival at the Kildare venue when traditional layers complained of preferential treatment for one of the sponsors Betfair, whom they claimed now contribute nothing to the industry.
Although there's a stand-off at the moment between Betfair and HRI, Graham Ross, who spearheads the Irish arm of this betting exchange, stressed that they had paid €4.5m to HRI "on an entirely voluntary basis over the past four years".
Whatever the merits of the counter-claims, the facts are that both the turnover in the betting ring and on the Tote has taken a substantial nosedive during this final week of this National Hunt season.
In spite of the sharp downfall in the Irish economy generally, close on 50,000 patrons turned up during the first three sessions at Punchestown and the on-course bookies who sustained heavy losses were probably relieved that there was indeed less money being speculated than in the recent boom years.
The earliest start of a festival experimenting with four late afternoon kick-offs, that proved a smart move weather-wise, at least has been invoked today to avoid a clash for patrons with this evening's big rugby game at Croke Park.
Whitewater Handicap Hurdle (4.05)
A very competitive event in prospect with consistent local hope Essex and Larkwing, which has been out of form of late, topping the weight scale ahead of P'tit Fute, generally in good heart this winter.
Mansony, never in the hunt here behind Master Minded earlier in the week, takes a definite drop in class now as he switches back to the minor obstacles along with Northern Alliance which would prefer better ground.
Silver Jaro likewise won't have ideal conditions underfoot. Sarteano and Beneath The Radar were successful on their most recent starts for an in-form yard while Sesenta seems the pick of the Willie Mullins quartet.
Verdict: P'tit Fute is the nap.
Ballymore Champion 4-y-o Hurdle (2.55)
Mourad, which was third at Cheltenham in the Triumph Hurdle -- well ahead of a hard-pulling Jumbo Rio and Tharawaat -- sets a decent standard and should get back on the winning trail in this grade. Kaprun is a progressive sort and relishes the mud, unlike Fairyhouse scorer The Fist Of God, which outpaced Flag Of Honour and Chevalier Country there.
Verdict: Mourad looks the business.
- DAMIEN McELROY
