PUNCHESTOWN: THE 2008-09 Irish National Hunt season finishes at Punchestown today with both Ruby Walsh and Willie Mullins set to be presented with their championship trophies by the Taoiseach Brian Cowen on the back of news of further financial cuts across the industry.
Horse Racing Ireland yesterday announced a 5 per cent decrease in prizemoney for 2009 as well as a number of other significant cuts including slashing the Turf Club's integrity service budget by almost €500,000.
"These cutbacks are regrettable but unavoidable in the current climate," said the HRI chief executive Brian Kavanagh.
"We are in unprecedented times and we are taking these measures to ensure racing operates to a balanced budget."
It means the prizemoney fund for 2009 will be reduced by a further €2.7 million to a total of €58.3 million which contributes to an overall drop of €6.6 million (11 per cent) from the 2008 fund.
HRI also revealed it will look for €500,000 worth of cost savings in its own operation but also that the Turf Club will have to find €445,000 worth of more savings in its integrity services budget.
It has also been confirmed no new building projects will be approved under the Capital Development Fund.
Brian Kavanagh said the moves are in response to a €1.2 million cut in Government funding announced in last month's emergency budget, a forecast 14 per cent drop in HRI's overall income, and the changing economic environment generally.
"An improvement in the economic environment and most importantly secure long-term funding are central to a return in growth in the industry," he added.
HRI's desire to levy overseas telephone betting and internet exchange betting returned to prominence at this week's festival when a row between on-course bookmakers and Betfair over on-screen price displays to the public resulted in Kavanagh heavily criticising the exchange company.
The championship prizes will be handed out today after a season in which the Willie Mullins-Ruby Walsh team were dominant.
Before the start of action last evening, Mullins had saddled 132 winners, closing in on a Prizemoney value of €2.5 million. Walsh was on 117 winners for the season in Ireland, worth nearly €2.8 million in prize-money, well clear of his nearest rival Davy Russell on 81. JP McManus is again champion owner with 62 winners.
The feature event on the last day of the Punchestown festival is the €130,000 Ballymore Champion Four-Year Old Hurdle which might not be the most inspiring Grade One of the season but does provide another clash between the smart pair, Mourad and Jumbo Rio.
These two first met here on New Year's Eve when Jumbo Rio emerged best in a photo finish by a short head but then lost the race to Mourad on appeal.
He did, however, get his own back at Leopardstown in February and then didn't look to be done any favours in the Triumph Hurdle when Ebadiyan's exit at the second last left him in front plenty early enough.
Mourad finished third to Zaynar in the Triumph but soft ground conditions could suit his old rival more. Sesanta looks to have an ideal combination of a low weight and two and a half miles in the €120,000 Whitewater Handicap Hurdle.
Fans of the Epsom Derby candidate Fame And Glory will be hoping for a form boost from Fergus McIver in tomorrow's classic trial at Gowran while Chinese White can land the Listed Victor McCalmont Stakes.
