Michael O’Leary has built Ryanair into the World’s most successful airline on the basis of high volume and low fares.
It’s different in the world of sport though where his racing empire has achieved similar dominance but through having the right quality of firepower and the right people behind the scenes.
This week the irish racing world was rocked by news that O’Leary and his Gigginstown Stud operation was severing links, at least for now, with Champion Trainer Willie Mullins.
Mullins was in a the unique position of training some of the best racehorses in the country for the three main players in the ownership game. O’Leary could have stood shoulder to shoulder on the gallops at Closutton in County Carlow alongside Rich Ricci and JP McManus.
If the three had swapped notes about the amount of money they have invested in the sport it might have made their eyes water but they are wealthy men and this is their passion. What they get back in terms of excitement and the thrill of victory is a fair return for them.
O’Leary is moving no fewer than 60 horses from Mullins, and has already determined where the bulk are going, spread across a range of his other existing trainers.
The Irish Racehorse Trainers Association lists the range of training fees you might expect to pay at between €800 and €1,400 a month. At the top end that would have meant a monthly bill for training of over €1 million for the horse now wending their way through different country lanes.
That would be a big hit for any business but is actually only the prize money on offer in the Aintree Grand National next year, and only twice that available in the Boylesports Irish Grand National to be held at Fairyhouse at Easter.
Michael O’Leary owned horse won both of those contest in 2016 and would have high hopes of doing the same again in future years.
The reason for the split was that Mullins had notified his owners of a ten per cent rise in fees, the first he had implemented in a decade.
It seems to be a fair reward for a man who won prize money over the past five seasons that is close to €20 million for the owners whose horses he prepares.
He should be OK. Accumulated profits at a separate horse transport firm in which he is involved had risen to over €400,000 last year and he does still have a wealth of talent to aim at the top prizes both in Ireland and Britain over the next twelve months.
It does promise though to generate an extra buzz at the big festival meetings, and that is something which everyone involved can emerge a winner from.
