By John Considine
Last week, Robbie Butler posted on how the recession has hit Irish racehorse trainers hard (here). He also showed how there is a declining number of owners in the sport. Last Sunday, Denis Walsh examined the issue in a Sunday Times piece. In the middle of Walsh's piece was an interesting graphic on the number of races and prize money won by the top five owners in national hunt racing. The graphic compared the 2003-4 season and the 2013-14 season. It showed how the prize money of the Top-5 went from €2.4m to €6.7m. The combination of pieces by Walsh and Butler encouraged me to look at the data. The picture below supports Walsh's graphic about the increasing share going to the Top-5 owners. The picture also supports Butler's contention that it coincided with the recession (the data for 2008 is missing).
The increase in the prize money captured by the leading owners came at a time when overall prize money was declining. Overall National Hunt prize money for the period since 2000 is presented in the picture below. The peak comes in 2008 when the figure was just under €29m.
The decline in overall funding, and the greater share taken by larger owners, have made it harder on smaller owners to survive (as Butler points out). As a result, the patronage of the larger owners is crucial for the survival of trainers (as Walsh points out).
Maybe the sport is again becoming the 'sport of kings'. The Gigginstown House Stud was the leading prize money winner in 2013. Ryanair's Michael O'Leary as the High King of Ireland?
The decline in overall funding, and the greater share taken by larger owners, have made it harder on smaller owners to survive (as Butler points out). As a result, the patronage of the larger owners is crucial for the survival of trainers (as Walsh points out).
Maybe the sport is again becoming the 'sport of kings'. The Gigginstown House Stud was the leading prize money winner in 2013. Ryanair's Michael O'Leary as the High King of Ireland?
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