Irish racing signs multi-million euro deal with China

Irish racing will receive a much-needed boost to its economy as a result of

the announcement on Sunday that a multi-million euro deal has been signed with

China to launch a new Thoroughbred industry there.

Coolmore is at the forefront of the initiative to build a $2-billion equine

center over 3.3-million square meters in Tianjin, China's fourth largest city,

as early as next year. The Irish bloodstock industry will ship over 100

broodmares and a selection of stallions over the next three years to lay the

foundations, while Coolmore has offered training for a group of agriculture

graduates from Chinese universities who will eventually run the breeding

operation.

"HRI has an international marketing wing and we've been entertaining

delegations from China for some years. They've been seeing our stud farms and

coming to our sales," Horse Racing Ireland's (HRI) Director of Marketing and

Communication Michael O'Rourke said. "What is particularly exciting about this

is that this is the first deal of its kind done by the Chinese government. That

is a big plus. They have been saying very nice things about us, that we are a

world leader.

"The HRI message would be that Ireland is the best country in which to breed

racehorses. Realistically, domestic demand has been quite flat since 2008. We

have been conscious that, if we are going to get growth, it would be overseas.

And this has great potential. A few years ago, our export of Thoroughbreds were

worth 200 million a year. They are talking about this project alone delivering

50 million in about three years' time, so that shows the scale of it."

Trainer Dermot Weld is in China at present as part of a delegation to help in

the creation of the Tianjin Equine Culture City, which will encompass two

racecourses, five training tracks, 150 training bases, 4,000 horse stalls, a

horse clinic, international equestrian college and an auction house. It is

expected that around 40 race days will take place next year.

"We are delighted to be one of the first Irish companies to kick-start this

partnership and represent Ireland's hugely successful horse breeding and racing

industries," Coolmore's JP Magnier said. "(This) announcement marks the

culmination of huge efforts by the Irish Government and department of

agriculture, led by Minister Coveney, who have been trying to develop new Irish

trade links with China. The sector plays a huge part in the Irish economy,

currently generating 1.1 billion annually. This industry is something we are

good at, and today one of the biggest markets in the world has recognized that

and has chosen to partner with Ireland."

"(This) announcement of a partnership involving Ireland to develop a major

racing and breeding operation in China arises from the preeminent position that

Ireland holds in the Thoroughbred breeding world," Minister Coveney added. "This

initiative should facilitate the development of a major export market for horses

from Ireland and has the potential to provide a range of business opportunities

for companies and individuals in Ireland who can bring a wide range of expertise

to the project. Coolmore Stud is recognized as a world leader in Thoroughbred

breeding and is to be commended for their involvement in this major project."