Companies

Losses double at Irish arm of Sheikh Mohammed bin Rashid Al Maktoum’s Godolphin

Thoroughbred breeding operation saw losses grow to €8 million in 2022

Godolphin is owned by the family of Sheikh Mohammed bin Rashid Al Maktoum, who is the vice-president and prime minister of the United Arab Emirates (UAE) and the ruler of Dubai

The Irish arm of Sheikh Mohammed bin Rashid Al Maktoum’s Godolphin thoroughbred breeding operation saw its revenue drop from €31.1 million in 2021 to €27.4 million in 2022, new company accounts show.

The company’s turnover was largely derived from nomination fees — stallion fees — which fell from €23.2 million to €20.1 million.

It also earned €6 million from ‘keep fees’ — which is the price of keeping a mare during breeding — down from ...