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HRI Releases 2021 Budget

Horse Racing Ireland’s 2021 budget has been approved, with measures to combat the threats of COVID-19 and Brexit key among the priorities.

Brian Kavanagh, chief executive of Horse Racing Ireland, said, “The HRI budget for 2021 is set in the context of two lifetime challenges hitting the sector simultaneously and the priority is to shield the industry from the impacts of both Covid-19 and Brexit, while being cognisant of the welfare of our horses and the people that work with them. Thanks to the effort of many, the finances of Horse Racing Ireland are stable as we come to the end of one of the most challenging years any of us will ever face. The Board wishes to acknowledge the effort and sacrifices made within the industry this year and is pleased to announce a progressive budget for 2021 which is aimed at giving some clarity in an uncertain environment.

“In framing its budget, HRI is following the key objectives set out in our Strategic Plan for the industry 2020-2024 which was launched earlier this year. The quality of the Irish racing and breeding product remains strong and, working within our plan, I am confident that we can put 2020 behind us and look forward with some optimism.”

Budgeted prizemoney for 2021 is €60.7-million, with the return of minimum prizemoney levels to €10,000 a priority. Fourteen extra fixtures have already been announced, taking the overall total to 384.

The budget also includes government funding toward the redevelopment of the Irish Equine Centre in Johnstown, Co. Kildare. This project will ensure the highest possible standards of disease prevention and surveillance within the industry. The budget also makes provisions for an all-weather track at Tipperary and a new racecourse grant scheme to enhance stable yard capacities. HRI noted it will work with racecourses in 2021 on a case-by-case basis to assist them with mitigating the impact of COVID-19. Budget provision has also been made for a national awareness campaign for the safe return to race-going when appropriate.

The board has approved €14-million for integrity and racecourse services, and €1.3-million to support breeders and the sale of Irish-bred horses in light of the double threats of COVID and Brexit.

Kavanagh continued, “2020 was a year when prudence with the industry’s finances was an absolute necessity and the resilience of our sector enabled many to get through the year. That said, 2020 was anything but normal and the spectacle of high quality racing in front of empty stands was a depressingly familiar sight. Regrettably this new normal will continue to be the theme as we head into 2021, although recent developments regarding vaccines and travel do allow some cause for optimism regarding a safe return to more normal activity.

“The allocations in Budget 2021 have been guided by the HRI Strategic Plan for the industry with growth in fixtures and prize money targeting increased participation in the sector. HRI will ensure that our prize money remains internationally competitive and we will announce a new scheme in early 2021 to provide financial support to the breeding industry and assist Irish vendors in the post Brexit environment. The Irish Tote alliance with the UK Tote Group will commence from 1st January 2021 following the issue of a new seven-year Tote licence by the Government in October, while the latest phase of redevelopment of Leopardstown has just been completed, although unfortunately we will not be able to showcase it to the public at the forthcoming Christmas Festival.”

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Visit Horse Country Launches Charitable Fund

Visit Horse Country, like many others, suffered a serious financial impact from the COVID-19 pandemic. Several members of the industry, such as Fasig-Tipton, Keeneland, the Breeders’ Cup and The Jockey Club, stepped into help. However, Visit Horse Country has now partnered with the Bluegrass Community Foundation to launch a charitable fund supporting initiatives like services for TAA-accredited aftercare members of Horse Country which receive a complimentary membership; scholarship and field trip visits; community outreach such as Meet the Neighbors; and a new workforce development partnership with the Kentucky Chamber of Commerce.

“Between refunds and not being able to offer tours, a year that had been trending to exceed 40% growth year over year turned into a budget net-negative,” said Price Bell, Jr., president of Horse Country’s board. “The way we’re currently structured, nearly all of our operating budget is derived from revenue sharing when members give tours. When that couldn’t happen, we were looking at a pretty dire scenario. We cut every expense we could, including a temporary furlough of our team. Even as a limited amount of tours reopened in 2020, we would not have made it without the financial support of our industry, community and members.”

So far, in a launch of the fund earlier this year, more than 70% of the initial goal of $150,000 has been raised, with major support coming from the W. S. Farish Fund, followed by the Duncan & Carol Taylor Fund, Headley & Nancy Bell, Priscilla Fallon, The Bakhaus Family Foundation, The Jones Family Foundation, Siena Farm, Godolphin and others.

“The successful work of fan development through Horse Country is vital to our industry. For it to go away after the dedication of so many wasn’t acceptable,” said Bill Farish of Horse Country member Lane’s End Farm, and on behalf of the W. S. Farish Fund. “The financial health of Horse County is vital to the success of the effort. I’m thrilled to hear the match by the W. S. Farish fund has worked and that Horse Country will make it through this pandemic.”

Tours for 2021 will be offered on a limited basis beginning late December, though some members may not resume regular operations until later in the new year. Updates can be found at www.visithorsecountry.com.

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Laurina Tops Third and Final Session of Tattersalls Ireland

The third and final session of the Tattersalls Ireland November National Hunt Sale was topped by the wildcard Laurina (Fr) (Spanish Moon) (lot 801A). A Grade 1-winning daughter of Lamboghina (Ger) (Alkalde {Ger}) over jumps, the Ballincurrig House Stud-consigned 7-year-old was knocked down for €290,000 to Ridgewood Stud. Another 7-year-old wildcard, the grey Moskovite (Ire) (Flemensfirth) (803A) found a new home at The Beeches Stud for €160,000. Consigned by Boherna Stables, the mare has placed twice at graded level over fences and is carrying her first foal by Crystal Ocean (GB).

A colt (lot 736) by Jukebox Jury (Ire) out of Sainte Baronne (Fr) (Saint des Saints {Fr}) was the most expensive weanling on the day at €70,000. The half-brother to Grade 2-winning bumper hero Appreciate It (Ire) (Jeremy) caught the eye of Richard Rohan and was part of the Charel Park Stud draft.

The foal session grossed €2,068,500 for 140 sold at a 74% clearance rate. The average was €14,775 and the median was €10,000. Combining the total results for weanlings, the aggregate was €8,932,500 for 529 sold. The average was €17,973 (+7%) and the median was €13,000.

During the mares’ session, a total of €994,000 was accrued for 18 individuals (72%). The average jumped up 229% at €55,222 and the median posted an even larger gain to €32,500 (+282%). For the entire sale, the clearance rate improved to 78% with an aggregate of €10,055,100, a median of €13,000 (+8%) and an average of €19,008 (+15%).

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Keeneland Digital Platform Continues to Grow

Keeneland, which debuted its first digital sale in June, will take perhaps its biggest swing at the on-line platform Tuesday with a December Digital Sale catalogue featuring some 70 offerings of weanlings, yearlings, broodmares and broodmare prospects and racing and stallion prospects.

“We are very happy with what we came up with,” Keeneland’s Director of Sales Development Mark Maronde said of the strength of the catalogue. “It was kind of a surprise in that we just finished the November sales and leading into this time of year, we really didn’t know what we would get.”

In addition to a French-based group of offerings led by Group 1 producer Fancy Green (Fr) (Muhtathir {GB}), the December catalogue includes mares who come into the on-line auction with major updates. Stakes-winning Surrender Now (Morning Line) (hip 44) is a half-sister to recent GIII Bob Hope S. winner Red Flag (Tamarkuz) and the 5-year-old is booked to Tamarkuz’s sire Speightstown for 2021. Felicita (More Than Ready) (hip 22), who is offered in foal to Not This Time, is a half-sister to this year’s GI Frizette S. winner and GI Breeders’ Cup Juvenile Fillies runner-up Dayoutoftheoffice (Into Mischief).

“I think the November sales were maybe stronger than people thought they would be under the circumstances and they saw this [digital sale] as another opportunity,” Maronde said. “And then, with a horse like Surrender Now, she’s a 5-year-old mare, they were probably go to breed her and the half-brother jumped up and won impressively in California. I think it gave them the option to test the market and see where it takes them. They always have the option to buy her back and breed her, but it was an opportunity that was probably too good to pass up.”

Maronde continued, “There is a half-sister to Dayoutoftheoffice in foal to Not This Time. I think Not This Time earlier in the fall wouldn’t have been as hot. And then that filly jumped up and won in New York and then came back and ran second in the Breeders’ Cup, probably it gave them a similar opportunity to see if they could cash in. This would seem to be the place to do it.”

The December catalogue also includes Westside Singer (Gone West) (hip 47), dam of multiple graded stakes winner Secret Message (Hat Trick {Jpn}); Meow (Gio Ponti) (hip 32), a half-sister to multiple graded winner Engage (Into Mischief); and Frankly J’Ray (Frankel {GB}) (hip 23).

As the digital sales continue to gain in popularity, Maronde expects more buyers and sellers to take advantage of the timeliness of auctions outside the traditional sales calendar.

“I don’t think we are there yet, but I think the pandemic moved this format along a lot quicker than we thought it would,” Maronde said. “We thought this was going to be something that people would have to be exposed to and it would be slow going. So this being the third sale and to come up with 70+ entries did kind of shock us a little bit. I think that’s related to the pandemic and also an awareness that there is an opportunity that doesn’t always have to follow the sales calendar when you have a sale like this pop up.”

Nudged along by the travel restrictions caused by the global pandemic, Keeneland unveiled its digital sales platform in June with a pair of offerings bringing six figures, but with 18 of 31 horses failing to sell. The October sale was topped by a $200,000 racing or broodmare prospect and only seven head finding new homes.

“The first [digital sale] we had to see where we were,” Maronde said. “The second one, we didn’t really know how September [Yearling Sale] was going to play out and we wanted to give sellers every opportunity to move product. So we had that second sale taking horses who were RNAs out of the yearling sales. More so than anything, that was the purpose of the second sale. For this third one, we knew we needed to have another sale. There was a consignment that approached us and said they would like to try to have a digital sale focused around the November sale time frame, so people could go to the farm and look at horses and then be prepared to buy them on this platform.”

From its initial season of three auctions, Maronde said he expects the digital platform to only grow in 2021.

“We will be making a bigger commitment to this in 2021,” he said. “We will probably have seven or eight sales in the months that we don’t have a live sale. And we will throw more resources at it. This has been a learning exercise for us for all three sales. We haven’t had the opportunity to focus on it as much as we’d like. But this sale and the one in October were basically us trying to be reactive to what we thought maybe was going to be a need in the marketplace with the travel restrictions and a perceived tough market to sell into. I think we learned that the industry is pretty resilient and flexible. The online bidding at the sales everywhere has been a lot stronger than anybody would have thought. Videos are more in demand and more people will be doing videos and there does seem to be less of a negative on selling without being present on site. The big takeaway for all of us in this is that we thought it would be a little bit harder to get people to adjust to than it’s been.”

Bidding on the December sale offerings begins Tuesday morning at 10 a.m. and bidding closes on lots every two minutes beginning at 2 p.m.

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