Just a few weeks prior to the initial Covid lockdown, Horse Racing Ireland (HRI) released its last five-year strategic plan, making some observers somewhat skittish when the regulatory body of the sport revealed its fresh blueprint for 2024 to 2028 on Tuesday.
At the event held in Punchestown, Martin Heydon, State Minister for Agriculture, Food and Marine, assisted in the inauguration of the plan. In this plan, HRI announced its aspiration to establish the second all-weather track in Ireland, located at its very own Tipperary course. The expectation is that this endeavour will be “fully operational” no later than 2027.
Compared to the earlier goal set in the former strategic context of HRI, this is a delay of five years. Substantial portions of the initial plan had to be put aside because of the global health crisis.
From then, the project in Tipperary has been troubled by planning complications. The go-ahead for a floodlit synthetic surface was only given by An Bord Pleanála in January, a delay of a year.
Suzanne Eade, HRI’s CEO, said on Tuesday: “The process is further delayed, but we had to readjust our priorities due to the Covid impact. It’s a complex plan which involves significant movement of earth. We’ve obtained planning consent and the subsequent stage of government approval. Now we need to create a timeplan considering the work has to specifically take place in the February, March period.”
The new plan carries over several of its predecessor’s objectives. HRI anticipates securing funding to the tune of €92.4 million by 2028. For the current year, HRI has been apportioned €76 million by the government. By 2024, it was targeting a state sponsorship of €98 million in the 2020 vision.
Initially, it sought €90 million for prize money this year, however, the refreshed plan discloses a downgraded goal of €80 million for 2028. HRI also has its sights set on hosting 430 events by the same year, a significant bump from the 395 gatherings that were planned for the current year. Furthermore, HRI hopes for a boost in the yearly income to climb to €141.7 million within the coming four years.
Horse Racing Ireland (HRI) has articulated a fresh strategy which includes escalating its yearly welfare allowance by 70 per cent and augmenting its investment in integrity and welfare by €3.7 million. Additionally, there are plans for infrastructure evolution on the previous location of the Racing Apprentice Centre in Kildare.
HRI pointed out that the growing public distrust, urbanisation, and escalating negative sentiment surrounding the betting industry are factors threatening the sport. They further identified government backing and media licensing as potential vulnerabilities.
HRI is continually collaborating with the government to procure an exception for niche racing channels from forthcoming gambling regulations that prohibit advertising from 5am to 9pm. The Racecourse Media Group, owner of Racing TV, has voiced concerns that such a restriction may render their operation non-viable, raising the possibility of Irish horseracing not being accessible for viewing in Ireland.
Eade disclosed, HRI and RMG’s joint efforts continue towards determining a solution. One proposed resolution necessitated acquiring additional equipment which was deemed cost-prohibitive. However, she mentioned, on analyzing their advertisements, especially with respect to the Cheltenham derby, the deviations from regulations did not appear significant.
Affirming the objectives of the new plan, HRI’s Chairman, Nicky Hartery said it encapsulates HRI’s aspiration for the industry’s sustained evolution, which is responsible for Ireland’s fifth largest agricultural export.
He added, a 2023 update to the Deloitte report unequivocally demonstrated the industry’s resilience amidst the tumultuous Covid period and its emergence robust, more valuable and progressively centered on its social obligations towards the people, horses and the environment.