Horseracing given €200m boost
Ireland’s racecourses are to become among the finest in Europe with a massive €200m cash boost, it emerged today.
Minister for Sport John O’Donoghue said the huge five-year funding deal would modernise facilities for punters and match the commitment millions of race-goers had shown to the sport.
“Horseracing is a hugely popular sport in Ireland, with over 1.4 million people attending races annually,” the minister said. “To support this growth in popularity, we need to provide the very best facilities at all racecourses.”
Horse Racing Ireland (HRI) will provide €110m in grant aid, while the racecourses themselves will pay out the remaining €90m euro.
Denis Brosnan, HRI chairman, said the cash injection would bring race tracks up to the same standard as other top stadia around the country.
“It is essential that we encourage all racecourses to develop high quality facilities,” Mr Brosnan said.
“The sporting public enjoys first class facilities at Croke Park and shortly will have the same standard at Lansdowne Road. We must plan to match these standards at Irish racecourses.”
An Indecon report on the value of the 300 race meetings held last year found punters spent more than €110m, €23m was taken at gates and €227m generated by on-course betting.
Mr Brosnan said no-one could ignore the significant contribution race-goers made to local employment and the economy.
The country’s top tracks including the Curragh, Fairyhouse, Leopardstown, Galway and Punchestown will be handed €80m.
Category one circuits such as Cork, Gowran and Navan will get €10m, along with category two tracks. A total of €10m is to be paid out for an all weather circuit.
