Thurles racecourse, Ireland's only privately owned racecourse, has closed with immediate effect.
Riona Molony officially announced the decision on Friday, with the Molony family having owned the Tipperary track for over a century.
One of three racecourses in County Tipperary, Thurles hosted its first meeting in 1732, and the track is renowned in National Hunt circles for its ability to cope with heavy rain and stage cards in the depths of winter.
However, this forte ironically proved a negative last season, with meetings and schooling sessions cancelled due to fast ground on a course without an irrigation system.
The racecourse is licensed to race until 31 December and has 11 prominent fixtures in the 2025/26 racing calendar, but those meetings will not go ahead.
A challenging financial landscape has been cited as one of the factors behind the decision to call time on the business.
In 2023, Thurles formed the breakaway United Irish Racecourses alongside Limerick, Kilbeggan, Roscommon and Sligo to enter into discussions with Arena Racecourse Company to achieve more favourable media rights terms.
Had a deal been struck, coverage from those tracks would have moved from Racing TV to Sky Sports.
However, the five venues eventually joined the other 21 racecourses in Ireland and signed with Racecourse Media Group and SIS – the outgoing rights holders – in a deal worth approximately €47m a year to the sport in this country.
A statement from Molony on the closure read: "It has been an honour and a privilege for our family to have run Thurles racecourse, and I am officially announcing our retirement today.
"We are very proud of the immense contribution our family has made to racing and we are most grateful to our extended racecourse family, our dedicated staff, generous sponsors, loyal patrons and the wider racing community for all your support.
"Horse racing is part of the fabric of our family, and we have been very fortunate to have made so many great friends within the industry over the years. My family and I look forward to going racing with you again as spectators.
"Since my beloved husband Pierce passed away in 2015, with the help of our four daughters Patricia, Helen, Ann Marie and Kate and our wonderful staff, we've managed to keep the show on the road and I know he would be very proud of us for that.
"The girls all have their own families, careers and lives to live. Ever increasing industry demands and the cost of doing business has also been a major factor."
In recent times, Thurles has hosted three Grade Two contests each season, with the Kinloch Brae Chase in January being the most high profile. It has been won by the likes of Native Upmanship (three times), Newmill (twice), Hi Cloy and Don Cossack.
Reacting to the announcement, Horse Racing Ireland chief executive Suzanne Eade said: "Thurles racecourse has been a cornerstone of the National Hunt programme in Ireland during the winter months, and today's news was a surprise to everyone in the industry.
"I am sure this announcement was a hugely difficult one for Riona Molony, and her daughters Patricia, Helen, Ann Marie and Kate, and I respect their decision to take a step back from running racing at Thurles.
"Riona’s husband Pierce contributed significantly to the Irish racing industry for many years and the Molony family, led by Riona, certainly stepped up following his untimely passing.
"I will be seeking a meeting with the Molony family in the near future to discuss their position."
Willie Mullins has described the closure as a "huge blow for Irish racing".
The champion trainer, who has saddled more than 250 winners at the circuit, said: "It was a major shock this morning to hear the news. It will be a huge blow for Irish racing, more specifically Irish jump racing and winter jump racing.
"Thurles is a track that always had beautiful ground in the winter when other tracks couldn’t.
"It’s the last family-run track in Ireland, I believe. Pierce Molony ran it for years, his father ran it before him and Riona and family have run it since Pierce died and they’ve been fantastic for the Irish jump fraternity over the years."
Mullins has not given up hope of racing again taking place at the track, adding: "I think we’ll be doing our best to see if there’s any way we can save the track for racing in Ireland.
"It will need a lot of local support. However, on the bigger scale, Irish winter jump racing needs it too I think."
