A SHARP increase in the level of payouts to injured jockeys in the past two years has prompted a significant tweak to the way in which the Jockeys Accident Fund [JAF] is financed.
Owners currently give 1% of all gross prize money won to support the Accident Fund and the Jockeys Emergency Fund [JEF].
Riders also give a percentage of their riding fees to the Accident Fund which guarantees jockeys an income while they are injured, up to a maximum of €1,000 per week, depending on the level of the contributions they have made.
However, the JAF has seen its fund significantly depleted in the past two years, partly due to a drop in the value of some investments and partly due to an increase in payouts, as a number of high-profile jockeys found themselves sidelined through injury.
The Irish Jockeys Association approached the Association of Irish Racehorse Owners to discuss the matter and it was agreed, with the approval of both the JAF and JEF, that a greater share of the 1% prize money deduction would in future go to the Accident Fund.
A spokesperson for Horse Racing Ireland said the amendment was made “to allow funds that are currently received by the Jockeys Emergency Fund (JEF) to be received by the Jockeys Accident Fund (JAF).
“This amendment was requested by the AIRO to ensure that the JEF and the JAF both receive appropriate levels of funding based on their current and anticipated needs, and has the support of both the JEF and JAF as well as the IHRB.”
Andrew Coonan of the Irish Jockeys Association said: “This has come about following some very positive discussions with the AIRO board, the jockeys and the board of the Jockeys Accident Fund.
“I am delighted that this has now been achieved. It puts the JAF on a much more sound financial footing. The JAF is probably the most important fund that the rider has in terms of financial support on a day to day basis.
“Riders who contribute the largest part to this fund have also agreed at a committee meeting to make a further increased contribution to this fund from their riding fees as part of a licensed levy.”
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