Bloodstock & Breeding
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10 Jul 11
11:19
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Date Joined:
17 Nov 08
Latest figures show Irish number of horses returned in training showed a 14 per cent decrease compared to the same period last year, on course bookmaker betting fell by 10 per cent and race sponsorship by eight per cent.The recession has taken its toll on the sport. The number of horses in training here has fallen from a peak of over 12,000 in 2007 to under 10,000.Syndicates were a big source of home-grown owners, and at one stage they owned up to 30 per cent of Irish-trained horses. Latest figures now show their share has dropped under 20 per cent, and is still falling.
Owners like Ballymore Properties founder Seán Mulryan at one stage, had an estimated 150 horses in training in Ireland and France has no longer has any horses in training in Ireland. He and his family still own Ardenode Stud in Kildare.
Ballymore’s Irish debts are now in Nama,earlier this year, it transferred 72.5 per cent of its landmark redevelopment of the London Arena on Canary Wharf to Royal Bank of Scotland and a group of bondholders in a debt for equity swap. It owed those creditors £265 million. It has been working on refinancing around £1.1 billion of debt in Britain.
Two positive figures are a 30 per cent increase in bloodstock sales at public auction, a 20 per cent increase in Tote betting and a three per cent increase in average attendance at racemeetings.
Brian Kavanagh, chief executive of Horse Racing Ireland (HRI), said: “With prize money down by a further five per cent (€1.1m) to date this year and 25 per cent in total since 2008, a decline in entries and runners was inevitable. However, the 14 per cent fall in the number of horses in training for the first six months is very worrying as this has a direct impact on employment levels throughout the country.”
Kavanagh concluded: “If there is a theme running through these figures, it is that international interest in Irish racing and breeding remains strong, but the domestic sector is under enormous pressure. The industry has suffered a series of cutbacks in recent years and urgently requires a long-term funding solution which is not dependent on Government grants.”
Owners like Ballymore Properties founder Seán Mulryan at one stage, had an estimated 150 horses in training in Ireland and France has no longer has any horses in training in Ireland. He and his family still own Ardenode Stud in Kildare.
Ballymore’s Irish debts are now in Nama,earlier this year, it transferred 72.5 per cent of its landmark redevelopment of the London Arena on Canary Wharf to Royal Bank of Scotland and a group of bondholders in a debt for equity swap. It owed those creditors £265 million. It has been working on refinancing around £1.1 billion of debt in Britain.
Two positive figures are a 30 per cent increase in bloodstock sales at public auction, a 20 per cent increase in Tote betting and a three per cent increase in average attendance at racemeetings.
Brian Kavanagh, chief executive of Horse Racing Ireland (HRI), said: “With prize money down by a further five per cent (€1.1m) to date this year and 25 per cent in total since 2008, a decline in entries and runners was inevitable. However, the 14 per cent fall in the number of horses in training for the first six months is very worrying as this has a direct impact on employment levels throughout the country.”
Kavanagh concluded: “If there is a theme running through these figures, it is that international interest in Irish racing and breeding remains strong, but the domestic sector is under enormous pressure. The industry has suffered a series of cutbacks in recent years and urgently requires a long-term funding solution which is not dependent on Government grants.”
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