Thurles racecourse, Ireland’s only privately owned racecourse, has closed its doors with immediate effect.

Riona Molony confirmed the family’s decision to retire from racing at the Tipperary track, a cornerstone of National Hunt Racing in Ireland.

It first staged racing in 1732, while the Molony family have controlled the track for over 100 years.

 “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,” Riona Moloney said.

“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.”

Molony cited “ever increasing industry demands and the cost of doing business” as a major factor.