Not looking good across the water

But which owners should be represented? The likes of Coolmore, or the likes of myself with a small share of a horse or two? It's pointless having one person trying to represent both.

I think they need to get away from the notion that everyone with an interest in the health of racing, including the hawkers outside the racecourse gates, deserves to be represented, and instead look for people who can see the bigger picture. Some of these will of course happen to be owners, breeders and others working in the industry, but they should be on the board for what they can contribute, not which interest they represent.
 
Grey said:
they should be on the board for what they can contribute, not which interest they represent.
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I'm sure the current HRI board members would take issue with the inference. I agree with your general idea as you don't need to be a pilot to be on the board of Ryanair, but HRI is not a profit making organisation but an administrative machine there to serve the industry rather than profit from the industry (as Ryanair does from the airline industry) and I think its an important distinction.
 
Grey said:
But which owners should be represented? The likes of Coolmore, or the likes of myself with a small share of a horse or two? It's pointless having one person trying to represent both.

I think they need to get away from the notion that everyone with an interest in the health of racing, including the hawkers outside the racecourse gates, deserves to be represented, and instead look for people who can see the bigger picture. Some of these will of course happen to be owners, breeders and others working in the industry, but they should be on the board for what they can contribute, not which interest they represent.
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The first question could be asked of the bookies - who is to be represented, Ladbrokes, Hills, Paddy Power, Boyles etc. who all have a large presence in the country but who ultimately wouldn't lose a heck of a lot if they weren't consulted or the racecourse bookmakers who make a living out of it.

IMO you'd have a representative of the Owners Association, Turf Club, Racecourses, a major owner (Coolmore, Aga Khan, Moyglare, Sheikh Mo etc.) on a rotation basis (say every 2 years), one for breeders, major off-course bookmakers and then racecourse bookmakers.

Just as an idea how about the Chairman of the Toblerone company heading up the HRI? He would have to be a runner surely?
 
On The Bridle said:
They are the reall big ones as well - 3 for a fiver. Savage for a long drive home especially if you cant afford to stop for a steak or you have forgotten the wife's birthday!!!:ninja:
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:lol: That sounds uncomfortably close to being the truth.
 
I got my wife one of those fish pedicures for her birthday, and I have to say I'm very satisfied with the results. Those piranhas don't feck about
 
European Courts have ruled that the VAT rate on racehorse sales will have to increase. Currently 4.8%. Who knows what it will end up at. Personally, if it was 10% it wouldn't bother me. If we spend €20k at the moment, we pay €1k in VAT and at 10% will have to pay €2k. It's not a deal breaker. But if you are buying a lot of horses or at the upper end it could be an issue.
 
Piece in the RP suggesting the VAT rate will be 13.5% and also be applicable to training fees which would be a major issue. Its essentially an extra months training fees, at least.
 
Cantoris said:
Piece in the RP suggesting the VAT rate will be 13.5% and also be applicable to training fees which would be a major issue. Its essentially an extra months training fees, at least.
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13.5% vat on training fees will automatically drive out owners or drive it underground...if you follow me
 
Just watched Max Keiser (E429) and his guest interviewee, whilst not the best communicator in the world, described a possible 'new Irish bailout' but with the potential to become a 'Cyprus' outcome.

Whilst MK is definitely a rogue and broadcasts on a pretty radical tv station he does seem to get a handle on things.

Anyone in the know?

MR2
 
Prize money in Ireland is to increase a small bit next year, and the budget for integrity services will also see a small increase. From the Irish Field:

Prize money increases confirmed

Article Date: 16-December-2013

Horse Racing Ireland (HRI) today announced increased prize-money, reduced administrative costs, increased promotion of ownership and additional support for integrity services - measures which were approved by the HRI board at its meeting on Friday 13th. The changes had been flagged by HRI Chairman Joe Keeling at the annual racing awards on December 9th when he outlined his commitment to improved prize-money and reduced costs of ownership.

Prize-money in Irish racing will increase by 5% in 2014, from €46.2m to €48.5m, including an increase in the minimum race value from €7,000 to €7,500.

Reductions in administrative charges for racehorse owners and trainers will amount to 10%, representing € 311,000 overall. The horses-in-training levy, for example, is reduced from €18 to €10 per horse. The changes will take effect from January 1st.

Racehorse ownership is a priority for 2014 and an extra €120,000 will support Irish Thoroughbred Marketing’s work in this area. An additional allocation of €167,000, as requested by the Turf Club, has been approved for Equine Forensic Testing.

Other than the completion of projects approved in 2013, there will be no racecourse capital development grant scheme in 2014. Work has commenced on seeking to establish a new scheme from 2015 onwards.

Commenting on the changes, Brian Kavanagh, HRI Chief Executive, said: “HRI’s registration charges have all been frozen since 2008 and these reductions will go some way to retaining horses in training and encouraging new owners to get involved with the sport. The decline in ownership since 2008 is one of our greatest concerns, which is why we have appointed a dedicated ownership manager and increased the ownership promotion budget. Improved prize-money and reduced administrative costs will help that initiative considerably.”

The reductions for 2014 are facilitated by anticipated savings through the implementation of streamlining between HRI and the Turf Club and further reductions in HRI’s overall cost of administration. The reductions will be seen in the charges against owners’ accounts for a range of services provided by HRI’s racing and client accounts departments, such as horses’ names, owners’ colours, authorities to act and the registration for racing purposes of partnerships, syndicates, clubs and companies.

Prize-money details

The minimum value for Irish races is being increased from €7,000 to €7,500. Other increases, by race type, are set out below:

Flat Races

Maiden races
from €7,000 to €9,000
Winners races
from €8,000 to €10,000
Handicaps (0-70)
from €8,000 to €8,500
Handicaps (0-90)
from €13,000 to €15,000


National Hunt Races

Handicaps ( 0-102 )
from €8,000 to €8,500
Handicaps (0-123 )
from €14,500 to € 15,000
Maiden Hurdles
from €7,500 to €8,000
Beginners Chases
from €8,000 to €9,000
Novice Chases
from €11,500 to €12,500
Grade 3 Weight-for-age
from €27,500 to €30,000
Grade C Handicaps
from €27,500 to €30,000


The new minimum values will apply from January for National Hunt racing and from the start of the Flat race summer season (23rd March 2014) for the Flat.
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Bookmaker Ladbrokes Ireland, is seeking High Court protection from its creditors and warns it will have to cut jobs in a bid to rescue the loss-making business.London-listed Ladbrokes, said on Tuesday that the High Court has appointed Ken Fennell as interim examiner to three Irish subsidiaries, Ladbroke (Ireland), Ladbroke Leisure and Dara Properties.
The court has also granted them protection, effectively barring creditors from enforcing any debts against the three companies for up to three months.
The companies’ directors applied to the court for its protection and for Mr Fennell’s appointment.
“The decision to seek examinership follows several years of declining profits in Ladbrokes Ireland culminating in a loss after interest and tax of over €5 million in the last financial year,” a statement said.
Ladbrokes plc chief executive, Jim Mullen, described the action as regrettable but absolutely necessary to safeguard the Irish business.
“This step has been taken in the best long term interests of Ladbrokes Ireland, its employees, customers, partners and shareholders,” he added.
Ladbrokes Ireland retail director, Jackie Murphy, warned that the examinership is likely to lead to the loss of some of its 840 jobs.
“We are fully committed to work with all our staff through this difficult time and would hope that the vast majority of any necessary redundancies will be voluntary,” he said.
Examinership allows troubled or insolvent companies, with a reasonable prospect of survival, up to 100 days to come up with a rescue plan.
Ladbrokes stressed in its statement that it will be business as usual for its 196 betting shops, while its digital and telephone betting operations will not be affected.
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