The IRE Incentive Scheme, which sets out to stimulate and fortify Irish Thoroughbred breeding, racing and sales, has been launched by Horse Racing Ireland (HRI).
The scheme will award a bonus of €10,000 to any owner of Irish-bred winners of 150 selected races across the Irish Flat and National Hunt programmes which may then be redeemed at bloodstock auctions in Ireland.
The first nominated race takes place Friday at Dundalk. Qualifying races will include 2-year-old fillies' maidens; 2-year-old auction maidens and median auction races; 3-year-old median auction maidens; and National Hunt auction races.
The owners of eligible winners–which include the (Ire) suffix and are Foal Levy compliant–will have until the end of the following year to redeem their voucher at any Irish-based sale, with the stipulation that their purchase must also be Irish-bred.
“The racing and bloodstock industry in Ireland has faced unprecedented and simultaneous challenges in the past year in the form of COVID-19 and Brexit, and the storm cannot be weathered by inactivity,” said Brian Kavanagh, chief executive of HRI.
“We believe the IRE Incentive will deliver a strong stimulus to the business, delivering significant funds from the racetrack back to the breeders via Irish-based public auctions.
“We have seen on a regular basis–most recently at Cheltenham–the quality of horses bred in Ireland and their performances on racing's biggest stages.”
John McEnery, chairman of the Irish Thoroughbred Breeders' Association, said: “Events last week at Cheltenham showed just how desirable and formidable the Irish thoroughbred is. But standing still should never be an option from a position of strength. and we commend the investment, motivation and principles behind the IRE Incentive.”
Click here for additional information on the IRE Incentive.