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A PASSION FOR HORSES
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| Philip Myerscough, Director of Tattersalls
Ireland |
Tattersalls Ireland Director, Philip Myerscough talks about the phenomenal
growth the Irish Thoroughbred Industry has seen in recent years and investment
tips for entrepreneurs thinking of
buying a stallion or two! Maree Morrissey reports.
A passionate, sincere and articulate man with real apt for his business,
Philip Myerscough has been a Director of Tattersalls Ireland for the past
three years and is one of the most respected auctioneers in the business.
Growth In Bloodstock
The H.R.I (Horse Racing Ireland) reported a massive increase in revenue
in Irish Horse Racing, from 109 million to a startling 146 million. This
rise can be part attributed to a tax exemption on stallion income put
in place by the late Charles Haughey. "Haughey was an innovator, "Myerscough
states and goes on to say that this exemption allowed Ireland to compete
for the bigger and better stallions and led to huge employment in rural
areas and all round rise in the quality of stallions bred in Ireland.
"All the support from the government for breeding has been repaid
in spades", explains Myerscough who says the more horses in training
means ultimately the more people employed. "Not only that but the
level and quality of racing has improved immensely according to Myerscough.
Currently the bloodstock industry counts for 1.5% of the national work
force, 11,000 are directly employed while the number rises to 25,000 with
people in related jobs.
Ireland In The Global Market
Ireland has proved itself a perfect ground for breeding. "Nowhere in
the world matches Ireland for handling and raising horses", says
Myerscough who goes on to say, our perfect climate may not be great for
those summer holidays but for horse breeding, its ideal! World class Irish
studs such as Coolmore Stud is described by Myerscough as, sensational.
"Coolmore Stud is a real credit to Ireland and puts us on the world stage
in the bloodstock industry."
More and more major players are acknowledging Ireland's prominence in
the horse racing world. Tattersalls Ireland itself is proof positive that
Irish quality has increased dramatically over the last few years. In the
past 20 years, ten of the winners of Cheltenham's Gold Cup were Irish
horses and ninewere sold by Tattersalls Ireland. More recently of these,
famous horse, 'War Of Attrition', owned by Ryan Air boss and entrepreneur,
Michael O'Leary, won the 2006 Cheltenham's Gold Cup, and sold by Tattersalls
Ireland.
A Risk/Reward Venture
So is there many people buying into bloodstock? Myerscough states, "syndicates
have doubled since 2001 and there are more than 5000 owners now in Ireland."
As an investment opportunity, there are many incentives for would be investors,
such as tax breaks. winnings from and the sale of racehorses are tax free.
Not only that but you don't even have to spend big money to get a big
pay off, "its a risk/reward venture", says Myerscough and goes
on to state that the famous horse, 'Moscow Flyer,' was bought for £17,000
at a derby sale.
The H.R.I has an owner's advisory group that advises on buying horses and
puts you in the right direction. Myerscough finishes by stating that, "for
entrepreneurs thinking of investing for the first time, a syndicate is a
great low risk option and can be thoroughly enjoyable. All share the costs
and all share the rewards."
| TATTERSALLS IRELAND'S
UPCOMING EVENTS |
| Getting
there: Situated only 11 miles north-west of Central Dublin and
14 miles from Dublin International Airport, the Tattersalls Complex
is easily accessible by road and air from all the major European bloodstock
centres. |
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| SEPTEMBER YEARLING SALE
Date: 5th – 7th September 2006
Venue: Tattersalls Ireland, Ratoath, Co. Meath
About: A select Sale for flat-bred yearlings, limited
to approximately 650 yearlings.
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| NOVEMBER NATIONAL HUNT SALE
Date: 30th October - 12th November 2006
Venue: Tattersalls Ireland, Ratoath, Co. Meath
About: The world's largest National Hunt Sale, selling
foals, yearlings, broodmares, stores and horses in and out of training.
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| DECEMBER NATIONAL HUNT SALE
Date: 13th – 14th December
Venue: Tattersalls Ireland, Ratoath, Co. Meath
About: A sale of all types of National Hunt stock, be it
foal, broodmare, yearling, store, or horses in and out of training.
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| DECEMBER FLAT SALE 2006
Date: 12th December
Venue: Tattersalls Ireland, Ratoath, Co. Meath
Promotion: Tattersalls Ireland's December flat sale
2006 promotion. An exciting new initiative for the Tattersalls Ireland
December Flat Sale 2006 has been announced by Tattersalls Ireland
where the vendor of any horse that is sold for €10,000 or more
at our December Flat Sale this year, will not have to pay either
the entry fee or vendor commission on that horse. This applies to
all horses sold in the sale, be it foal, yearling, mare or anything
in between.
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