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Ireland Gets Prize-Money Boost

Wednesday, 18th December 2013

The Irish racing industry will benefit from a five per cent increase to prize-money in 2014 with a €500 increase in the minimum value of a race to €7,500, reports irishtimes.com. Horse Racing Ireland's (HRI) announcement means total prize-money will rise from €46.2 million to €48.5 million, a move that was accompanied yesterday by confirmation of reduced administrative costs and greater emphasis on promoting racehorse ownership. Describing the latter as a priority for 2014, HRI revealed an extra €120,000 will be directed at marketing racing. Racing's ruling body also announced €311,000 worth of reductions (10 per cent) in administrative charges for owners and trainers. The horses-in-training levy will fall from €18 per horse to €10. "HRI's registration charges have all been frozen since 2008 and these reductions will go some way to retaining horses in training and encouraging new owners to get involved with the sport," the body's chief executive Brian Kavanagh said yesterday. "The decline in ownership since 2008 is one of our greatest concerns."

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