The major prizemoney hike which will make the 2017 Boylesports Irish Grand National Ireland’s most valuable National Hunt race, with a €500,000 prize-fund, is predicted to revitalise Fairyhouse’s traditional Easter Monday highlight.

A €225,000 increase for next year's race puts the Irish National well ahead of the €300,000 Guinness Galway Hurdle and leaves only the Aintree Grand National and Cheltenham Gold Cup worth more on the jumps programme within these islands.

The move is designed to bolster the prestige of the race which has faced increased competition for runners from other festivals in recent years while its fluctuating Easter Monday date in the schedule has at times also left it vulnerable.

Champion trainer Willie Mullins has yet to win the Irish National but has welcomed the move which was announced yesterday.

"This might bring back the real class horses," he said. "Fairyhouse needs a boost as it has been getting sandwiched between Cheltenham, Aintree and Punchestown. "

Noel Meade, an Irish National winner in 2002 with The Bunny Boiler, forecast a half million euro prize-fund is sure to increase the quality of the race which was won in memorable fashion by the Mouse Morris-trained Rogue Angel this year.

“When you’re running for half a million you are going to get a better horse, there’s no doubt about that,” Meade said.

“It is maybe our most famous jumps race and it had drifted down a bit so this is fantastic news.”

Horse Racing Ireland's chairman, Joe Keeling, said the financial increase will put the National "back on the map" and described the move as "a big statement for Fairyhouse".

Billed as a “Race of the People,” next year’s Irish National is scheduled to take place on April 17th .

The Fairyhouse manager, Peter Roe, said: "The €500,000 prize-fund places us up there with the likes of the Cheltenham Gold Cup [€685,000] and will definitely attract more and more of the best horses out there, as well as greater crowds, especially from Britain."