Michael O’Leary won €2 million in horse racing prize money paid for by taxpayers, Government figures have revealed.
In total, €42 million in public funding went to horseracing prize money and the Ryanair boss was not even the biggest winner.
The figures were released to People Before Profit TD Paul who says the industry's €72 million subsidy for 2023 is too generous.
“This prize money is won by people who are already multimillionaires,” he told Lunchtime Live.
“For example, in 2021, the top winner was JP McManus - a multimillionaire - he won over €2 million.
“The second was Michael O’Leary - again, a multimillionaire - he won just under €2 million.”
The horse-racing industry is subsidised by taxpayers through the Horse and Greyhound Racing fund - 80% of which can be spent on prize money.
In a statement to Newstalk, Horse Racing Ireland said:
“Taxpayers’ money is not used to fund prize money… Under the Horse and Greyhound Racing Act 2001, the Irish Horse and Greyhound Fund is itself funded by duties from betting.
“In 2021, betting duties were €100 million and that exceeded the Horse And Greyhound fund which was only €92 million.”
FX0APM Aintree, Liverpool, UK. 09th Apr, 2016. Crabbies Grand National Festival Day 3. Owner of the winner Michael O'Leary with his horse Rule the World after he won the main race Grand National Credit: Action Plus Sports/Alamy Live NewsPublic benefit
The prize money is not taxable and Paul Murphy said there are better things that public money could be spent on.
“This is money given to already very wealthy people coming from the public at the time of a cost of living crisis,” Mr Murphy said.
“The total money we give to horse racing is about twice as much as we give to domestic violence shelters in this country.
“It is a multiple of all the sporting organisations in Ireland combined. It’s horrendous that this is what we’re spending public money on.”
Core annual finding for sports organisations in Ireland, including GAA, FAI, IRFU, Special Olympics, Swim Ireland, Athletics Ireland and more is €15 million.
Annual funding for Horse Racing Ireland is €70 million. Almost €50 million of that goes in prize money to the rich.— Paul Murphy 🏳️⚧️ (@paulmurphy_TD) November 6, 2022
Sports journalist Daragh Ó Conchúir described Mr Murphy’s arguments as “ultra-simplistic” and said that the prize money helped sustain the industry.
“That money is reinvested in sales and it trickles all the way down to breeders and 92% of breeders in Ireland have five mares or less,” he said.
“So, you’re not talking about multimillionaires or anything near it. You’re talking about 30,000 people employed right through the 32 counties.”
Main image: Michael O'Leary kisses the trophy after his horse Rule The World wins the Crabbie's Grand National Chase. Picture by: Alamy.com
