Details of €4.3m increase announced to restore competitiveness to Irish prize money
Friday, January 23, 2026
Details of €4.3m increase announced to restore competitiveness to Irish prize money
Horse Racing Ireland, together with stakeholders of Irish racing, today announce a €4.3m increase in purses for racing in 2026 as part of a three-year prize money strategy which seeks to drive investment in Irish bloodstock and restore competitiveness to Ireland’s prize money levels.
The July 2025 Board meeting of Horse Racing Ireland approved the adjustment of targeted prize money levels in the current HRI Strategic Plan, increasing the ambition from €80m in 2028, to €85m.
The prize money strategy sees a near-equal split in increases between Flat and NH, a major investment in starter races, pyramidical increments in the handicap bands, and increases in minimum values across the Flat and NH Pattern to restore competitiveness to Ireland’s prize money offering, thus ensuring that winners at all levels can benefit from these increases.
In NH racing, where there have already been commitments made to NH Auction Races, NH Finals and Academy hurdles, there will be an increase in prize money for bumpers, maiden hurdles and beginners' chases, with enhanced minimum values for starter races run from the beginning of the Listowel Harvest Festival to the Dublin Racing Festival.
The minimum values for Open graded races see significant lifts, with Grade 1 Open race minimums going to €120,000 from €80,000; Grade 2 Open races from €45,000 to €70,000 and Grade 3 Open races to €55,000 from €37,500. Grade 2 novice races, previously at €37,500, will go to €60,000 for novice hurdles and €50,000 for juvenile hurdles and bumpers. A Grade 3 novice hurdle, with a minimum of €30,000 in 2025, will jump to €42,000 this year.
There is significant investment in the minimum values across the handicap bands in both Flat and NH, with rising increments introduced and made consistent across the handicap bands in both codes.
On the Flat, no Group 1 will be run for less than €400,000 under the new minimum values (from €300,000), while Group 2s will see the minimum value rise to €130,000 (from €120,000), Group 3s to €70,000 (from €60,000 in 2025 and €50,000 in 2024) and Listed to €50,000, from €45,000 in 2025 (€40,000 in 2024).
With starter races a particular focus of this strategy, no Irish EBF 2yo maiden will run for less than €22,000 in 2026 (from €18,000 in 2025), with all races in the popular Irish EBF Auction Series and Median Sires Series carrying a minimum of €25,000. Analysis of 3yo maidens run prior to the Irish Derby point to a particularly high standard of horse competing, and these races will run for a minimum of €20,000 for Irish EBF races in 2026 and €17,000 for non-Irish EBF races (from €12,000).
All of these figures are minimum values from March 1, and there will be many races in these categories during 2026 that will carry prize money in excess of these values.
The first year of the strategy, in 2026, will be financed by a €2m increase in HRI’s contribution; a 10% lift in entry fees across most categories; an increase in contributions from racecourses; and a record Irish EBF total sponsorship of €3.2m.
There will be less races run for the minimum value of €10,000 in 2026, but at the 0-60 handicap level (Flat) and at the 0-100 level (NH), where Ireland’s minimum value of €10,000 is highly competitive with other jurisdictions, that value will remain for 2026. As such, entries at this level will not be subject to an increase in fees.
Over the three-year lifetime of the plan, all contributing stakeholders – Horse Racing Ireland, Owners, Racecourses and Commercial sponsorship, and Irish EBF – will maintain the recent trajectory of their percentage contribution to Irish prize money.
The Owners’ contribution, for example, was 23.9% of the total prize money in Ireland in 2025 and will rise to 24.9% in 2026 before dropping back to a projected 23.7% in 2028.
New prize money values will begin from March 1.
Suzanne Eade, CEO of Horse Racing Ireland (HRI), said:
“The Board of Horse Racing Ireland has made prize money a major priority, and the Board agreed in July to adjust upwards the targets originally set out in the HRI Strategic Plan for the industry.
“The ambitions for this three-year prize money strategy include attracting and retaining Owners in Irish racing, together with the valuable contribution their investment makes to the Irish economy.
“We know that Ireland is in a competitive global market for thoroughbred investment and as racing jurisdictions all over the world increase their prize money offering, Horse Racing Ireland needs to ensure that Ireland remains competitive.
“The increases to race values announced for 2026 will go some way to addressing the competitiveness, but it is the first year of a three-year plan, and I am greatly encouraged by the manner of the engagement with industry stakeholders since summer 2025 and their willingness to buy into an all-industry plan for prize money.”
David Hyland, Chairman of the Association of Irish Racehorse Owners (AIRO), said:
“AIRO has consistently and proactively lobbied Horse Racing Ireland for meaningful increases in prize money, particularly as a key pillar in owner retention.
“We were closely involved in the discussions and planning process around the three-year prize money strategy and recognise that Owners will be asked to contribute more over the lifetime of the plan. We are cognisant that Owners’ costs continue to rise and that there will be an initial adjustment as the plan is implemented. It is important to note, however, that by the end of year three, the Owners’ percentage contribution to prize money is projected to return broadly to the same level as in 2025, reflecting the growth in the overall prize money pot.
“We are also pleased that all contributing stakeholders including HRI, Racecourses, Owners and the Irish EBF are actively participating in this strategy, reinforcing its collaborative approach. While Owners’ contributions will rise in the short term, the ambition to grow prize money to €85m by 2028 represents a positive step and we look forward to continuing to play an active role in prize money discussions into the future.
“AIRO believes that a transparent, collaborative framework and a strong prize money structure will ultimately benefit Owners and help ensure the long-term sustainability and competitiveness of Irish racing and breeding on a global scale.”
Joe Foley, Chairman of the Irish European Breeders Fund (IEBF), said:
“This announcement is a hugely positive and very welcome statement from Horse Racing Ireland. By putting prize money firmly at the centre of its priorities, HRI is sending a clear signal that competitiveness and investment in Irish racing matters. The scale of the increase, particularly for two-year-old maiden races, will be felt right across the industry and is critical to supporting Owners and breeders who underpin Irish racing. Irish EBF, on behalf of Irish Stallion Farms, is proud to play its part by yet again increasing our contribution to an all-time record high of €3,200,000.”
Paul Hensey, Chief Executive of the Association of Irish Racecourses (AIR), said:
“Ireland has a unique mix of racecourses and enjoyed superb attendances in 2025. There are challenges for many racecourses and that will continue in 2026, but there was a strong sense among the membership of AIR that racecourses play a role in an industry-wide prize money strategy.
“Racecourses flourish when the ecosystem is healthy and there is no denying the vital role that prize money can play in driving participation and investment in racing and bloodstock in Ireland. It is important for all sectors of the industry that Ireland’s racecourses can continue to offer a quality product and good levels of prize money, as there is strong international competition across every part of our business.”
Feidhlim Cunningham, CEO of the Irish Racehorse Trainers Association (IRTA) said:
“The €4.3m increase in prize money is a welcome and significant step forward for Irish racing. Importantly, this is the first year of a three-year strategy to raise minimum prize money values and this initial commitment gives us confidence that further progress can be delivered year on year. We have been open about the financial pressures facing our members amid rising costs and the importance of maintaining our position on the international stage. We commend the HRI Board for prioritising prize money in their 2026 budget and beyond.”
CLICK HERE FOR 2026 MINIMUM RACE VALUES DOWNLOADABLE PDF
The July 2025 Board meeting of Horse Racing Ireland approved the adjustment of targeted prize money levels in the current HRI Strategic Plan, increasing the ambition from €80m in 2028, to €85m.
The prize money strategy sees a near-equal split in increases between Flat and NH, a major investment in starter races, pyramidical increments in the handicap bands, and increases in minimum values across the Flat and NH Pattern to restore competitiveness to Ireland’s prize money offering, thus ensuring that winners at all levels can benefit from these increases.
In NH racing, where there have already been commitments made to NH Auction Races, NH Finals and Academy hurdles, there will be an increase in prize money for bumpers, maiden hurdles and beginners' chases, with enhanced minimum values for starter races run from the beginning of the Listowel Harvest Festival to the Dublin Racing Festival.
The minimum values for Open graded races see significant lifts, with Grade 1 Open race minimums going to €120,000 from €80,000; Grade 2 Open races from €45,000 to €70,000 and Grade 3 Open races to €55,000 from €37,500. Grade 2 novice races, previously at €37,500, will go to €60,000 for novice hurdles and €50,000 for juvenile hurdles and bumpers. A Grade 3 novice hurdle, with a minimum of €30,000 in 2025, will jump to €42,000 this year.
There is significant investment in the minimum values across the handicap bands in both Flat and NH, with rising increments introduced and made consistent across the handicap bands in both codes.
On the Flat, no Group 1 will be run for less than €400,000 under the new minimum values (from €300,000), while Group 2s will see the minimum value rise to €130,000 (from €120,000), Group 3s to €70,000 (from €60,000 in 2025 and €50,000 in 2024) and Listed to €50,000, from €45,000 in 2025 (€40,000 in 2024).
With starter races a particular focus of this strategy, no Irish EBF 2yo maiden will run for less than €22,000 in 2026 (from €18,000 in 2025), with all races in the popular Irish EBF Auction Series and Median Sires Series carrying a minimum of €25,000. Analysis of 3yo maidens run prior to the Irish Derby point to a particularly high standard of horse competing, and these races will run for a minimum of €20,000 for Irish EBF races in 2026 and €17,000 for non-Irish EBF races (from €12,000).
All of these figures are minimum values from March 1, and there will be many races in these categories during 2026 that will carry prize money in excess of these values.
The first year of the strategy, in 2026, will be financed by a €2m increase in HRI’s contribution; a 10% lift in entry fees across most categories; an increase in contributions from racecourses; and a record Irish EBF total sponsorship of €3.2m.
There will be less races run for the minimum value of €10,000 in 2026, but at the 0-60 handicap level (Flat) and at the 0-100 level (NH), where Ireland’s minimum value of €10,000 is highly competitive with other jurisdictions, that value will remain for 2026. As such, entries at this level will not be subject to an increase in fees.
Over the three-year lifetime of the plan, all contributing stakeholders – Horse Racing Ireland, Owners, Racecourses and Commercial sponsorship, and Irish EBF – will maintain the recent trajectory of their percentage contribution to Irish prize money.
The Owners’ contribution, for example, was 23.9% of the total prize money in Ireland in 2025 and will rise to 24.9% in 2026 before dropping back to a projected 23.7% in 2028.
New prize money values will begin from March 1.
Suzanne Eade, CEO of Horse Racing Ireland (HRI), said:
“The Board of Horse Racing Ireland has made prize money a major priority, and the Board agreed in July to adjust upwards the targets originally set out in the HRI Strategic Plan for the industry.
“The ambitions for this three-year prize money strategy include attracting and retaining Owners in Irish racing, together with the valuable contribution their investment makes to the Irish economy.
“We know that Ireland is in a competitive global market for thoroughbred investment and as racing jurisdictions all over the world increase their prize money offering, Horse Racing Ireland needs to ensure that Ireland remains competitive.
“The increases to race values announced for 2026 will go some way to addressing the competitiveness, but it is the first year of a three-year plan, and I am greatly encouraged by the manner of the engagement with industry stakeholders since summer 2025 and their willingness to buy into an all-industry plan for prize money.”
David Hyland, Chairman of the Association of Irish Racehorse Owners (AIRO), said:
“AIRO has consistently and proactively lobbied Horse Racing Ireland for meaningful increases in prize money, particularly as a key pillar in owner retention.
“We were closely involved in the discussions and planning process around the three-year prize money strategy and recognise that Owners will be asked to contribute more over the lifetime of the plan. We are cognisant that Owners’ costs continue to rise and that there will be an initial adjustment as the plan is implemented. It is important to note, however, that by the end of year three, the Owners’ percentage contribution to prize money is projected to return broadly to the same level as in 2025, reflecting the growth in the overall prize money pot.
“We are also pleased that all contributing stakeholders including HRI, Racecourses, Owners and the Irish EBF are actively participating in this strategy, reinforcing its collaborative approach. While Owners’ contributions will rise in the short term, the ambition to grow prize money to €85m by 2028 represents a positive step and we look forward to continuing to play an active role in prize money discussions into the future.
“AIRO believes that a transparent, collaborative framework and a strong prize money structure will ultimately benefit Owners and help ensure the long-term sustainability and competitiveness of Irish racing and breeding on a global scale.”
Joe Foley, Chairman of the Irish European Breeders Fund (IEBF), said:
“This announcement is a hugely positive and very welcome statement from Horse Racing Ireland. By putting prize money firmly at the centre of its priorities, HRI is sending a clear signal that competitiveness and investment in Irish racing matters. The scale of the increase, particularly for two-year-old maiden races, will be felt right across the industry and is critical to supporting Owners and breeders who underpin Irish racing. Irish EBF, on behalf of Irish Stallion Farms, is proud to play its part by yet again increasing our contribution to an all-time record high of €3,200,000.”
Paul Hensey, Chief Executive of the Association of Irish Racecourses (AIR), said:
“Ireland has a unique mix of racecourses and enjoyed superb attendances in 2025. There are challenges for many racecourses and that will continue in 2026, but there was a strong sense among the membership of AIR that racecourses play a role in an industry-wide prize money strategy.
“Racecourses flourish when the ecosystem is healthy and there is no denying the vital role that prize money can play in driving participation and investment in racing and bloodstock in Ireland. It is important for all sectors of the industry that Ireland’s racecourses can continue to offer a quality product and good levels of prize money, as there is strong international competition across every part of our business.”
Feidhlim Cunningham, CEO of the Irish Racehorse Trainers Association (IRTA) said:
“The €4.3m increase in prize money is a welcome and significant step forward for Irish racing. Importantly, this is the first year of a three-year strategy to raise minimum prize money values and this initial commitment gives us confidence that further progress can be delivered year on year. We have been open about the financial pressures facing our members amid rising costs and the importance of maintaining our position on the international stage. We commend the HRI Board for prioritising prize money in their 2026 budget and beyond.”
CLICK HERE FOR 2026 MINIMUM RACE VALUES DOWNLOADABLE PDF
The ambitions for this three-year prize money strategy include attracting and retaining Owners in Irish racing, together with the valuable contribution their investment makes to the Irish economy.
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