Horse Racing Ireland has announced a series of budget cuts, including a reduction in purses for 2010 of 10.2%, from 53.1 million euros to 47.7 million euros.
The measures were approved by Horse Racing Ireland’s board of directors Dec. 21, and announced the following day.
The moves are necessitated by a cut in the amount the body receives from the government. The staff of Horse Racing Ireland itself will see its salaries cut an avcrage of 6%.
Most of the cuts to purses will occur at the top, with the Irish Derby and Irish Champion Stakes slashed 250,000 euros and the One Thousand and Two Thousand Guineas (all Ire-I) reduced by 75,000 euros. All other group races will also see purse reductions.