Racing Faces Steady Pace as Budget 2026 Funding Remains Unchanged

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Racing Faces Steady Pace as Budget 2026 Funding Remains Unchanged

IRELAND’S HORSE RACING BUDGET 2026: NO INCREASE IN FUNDING

The Irish government has confirmed that the funding for Horse Racing Ireland (HRI) in 2026 will remain unchanged at €79.3 million. This announcement, made during the presentation of Budget 2026, puts a halt to the 4.3% increase observed in the previous year. This previous increase saw HRI’s allocation rise from €76 million to €79.3 million, contributing to the record €99.1 million Horse and Greyhound Racing Fund, the highest in its 23-year history. Approximately 80% of this fund is dedicated to horse racing, with the remaining 20% allocated to Greyhound Racing.

Challenges to HRI’s Strategic Ambitions

The decision to maintain the current funding level poses a challenge to HRI’s five-year strategic plan, unveiled in April 2024. This plan outlined annual growth in the fund as a key performance indicator, aiming for €92.4 million in state support by 2028, comprising €77.4 million in revenue and €15 million in capital funding. The target for 2026, set at €83.8 million, is now unattainable.

Reallocation Within the Budget

While the overall figure remains unchanged, there is a notable adjustment within the budget. The capital development allocation has been reduced from €16 million to €14 million, effectively releasing €2 million for HRI to use elsewhere in its operational budget. Despite the adjustment, HRI acknowledges the government’s consistent support:

Horse Racing Ireland acknowledges the continued support of the Department of Agriculture, Food and the Marine through the Horse and Greyhound Racing Fund and notes today’s budget announcement of no increase to the total fund allocation of €99.1 million for 2026, of which €79.3 million is allocated to the horse racing sector, with €14 million set aside for capital development.

Implications for Prize Money and Development

In 2025, HRI utilized its enhanced budget to increase minimum prize-money levels in Listed and Group/Graded races both on the Flat and over jumps, adding €1 million and bringing total prize money to €70.9 million. Additional funds were allocated for areas such as equine welfare, education and training, integrity services, and the point-to-point sector. However, the static budget for 2026 necessitates more focused spending to address rising costs across the sport.

Upcoming Sport for Business Events

Emegypt is organizing several upcoming events to highlight the positive impact of sports in Ireland and beyond. On October 14th, the Annual Sport for Social Good Event will focus on the beneficial work done through sports across the country. A new event centered on Sustainability in Sport is scheduled for November 20th, followed by the 12th Annual Women in Sport Conference in December, in collaboration with Lidl. Learn more about these events and how to participate:

Sports for Social Good Event: October 14th
Sustainability in Sport: November 20th
Women in Sport Conference: December

Sport for Business Community Engagement

Horse Racing Ireland and Greyhound Racing Ireland join over 40 National Governing Bodies of Sport in Ireland as part of the 300+ members of the Sport for Business community. This network includes leading sports and sponsors, commercial and state agencies, and individuals globally interested in Ireland’s sporting landscape. For more information on joining or to receive twice-daily news bulletins, consider subscribing to our updates: