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Jockey Club Racecourses’ Prizemoney To Return To Pre-Pandemic Levels

Prizemoney at The Jockey Club's racecourses will return to pre-pandemic levels for the fourth quarter of 2021. The Jockey Club will increase its prizemoney contributions by almost £1.5-million in the final three months of the year, boosting total purses for that quarter to more than £12.5-million; the projection had been £11-million. Therefore, total prizemoney for The Jockey Club's 15 racecourses in 2021 is expected to be more than £46-million.

Prizemoney will increase across all levels at The Jockey Club's racecourses, and major races positively impacted include the G1 Darley Dewhurst S. and the G1 bet365 Fillies' Mile (advertised as £450,000, now £500,000); and the G1 Kingdom of Bahrain Sun Chariot S. (£225,000, now £250,000).

Nevin Truesdale, chief executive of The Jockey Club, said, “A big priority for us has been to get to a position in our recovery where we can advertise prizemoney at pre-pandemic levels as quickly as possible. When you add 2020 and our 2021 outlook together, the pandemic will have cost us more than £170-million in lost revenues, so originally it seemed we would need to wait until 2022 to have any chance of making this announcement, but I'm delighted and tremendously proud of the team that we're able to bring this forward.

“We're optimistic about the future, but despite today's announcement we are continuing to operate under uncertainty as a business. This includes whether any restrictions on our operations will be reintroduced or deter racegoers at any point in the remainder of 2021 or into 2022. As such we'll need to keep planning on a relatively short-term basis for the foreseeable future and contribute the maximum we can back into the sport, including all our areas of investment beyond prize money.

“It's no secret that we view prize money as vital to the livelihoods of those working in the sport; it provides an important return for racehorse owners and encourages the competitive racing that we all want to enjoy. We're working hard to drive the sort of underlying growth and commercial success that allows The Jockey Club to continue to increase its contributions to British Racing, which has always been, and will continue to be, our aim.”

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EBF Pledges £1.8-Million To Prizemoney In 2021

The European Breeders' Fund has pledged £1.8-million of its earnings from British-based stallions to prizemoney enhancements in 2021 between flat and National Hunt races, focused between Class 4 and listed level races. The £1.68-million pledged to flat racing covers more than 600 races, and is the EBF's joint-highest contribution equal to 2019.

In 2020, 595 flat races were run in 2020 under EBF conditions, receiving £1,430,250 of funding. British EBF financial contributions made up 22.5% of the £6,358,360 total prize money of these races, making them the second-largest sponsor in the sport. When racing was halted in the early part of 2020, the EBF re-strategised its initial allocations to release as much EBF money as possible when racing resumed. It also asked racecourses to reflect 100% of EBF money above the BHA minimum prize funds.

“2020 was a tough year for everyone but we were delighted to be able to get more than £1.5-million in to prize money, even with a truncated race programme,” said British EBF Chairman Simon Sweeting. “The relative strength of the stallion market means that we have been able to maintain our commitment to racing's prize money in 2021, when we know the effects of the last year will be felt keenly. We hope by the careful budgeting and strategy of the British EBF team, that we will be able to provide a certain amount of continuity and continue to elevate prize money wherever we can.”

British EBF Race Planning Committee Member Sam Bullard added, “We are constantly assessing our portfolio of races and how we support them; we work closely with the BHA and racecourses to identify new funding opportunities and are happy to support a much-needed new conditions race for 3-year-olds to be debuted at Goodwood's May fixture. We are also keen to back projects that provide specific developmental opportunities. A great example of this are the hugely successful British EBF Future Stayers' races. Designed to give juvenile maiden and novice opportunities for horses with middle and staying distance pedigrees, they have produced a runners to subsequent black-type winners ratio of 9%.”

The British EBF welcomes Jono Mills as a trustee for 2021. Mills replaces Sam Bullard as the Darley representative, but will remain on both the Flat and National Hunt Race Planning Committees.

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Prizemoney Structure Change To Benefit Placed Horses

The payout structure of prizemoney in Britain will be altered from Saturday, with placed horses in non-pattern races to receive a larger share.

Second place horses will receive roughly half of the prizemoney allocated to the winner, with the third and fourth-placed horses getting half of the sum gained by the next best finisher. An additional £7.5-million will be provided to placed owners in non-pattern races.

Charlie Liverton, chief executive of the Racehorse Owners Association, said, “Prizemoney is a huge, long-term challenge for owners and racing and these changes are being made following feedback and consultation with owners. With the impact of COVID on racing, the ROA are working hard with industry colleagues to retain and attract owners and improving prize-money distribution is a key part of that.

“Prizemoney distribution has always been a frustration for owners, whether it was the complexity of the system or the levels generally. The changes deliver what owners want: simplicity and fairness. Put simply, more owners can access a larger share of the prizemoney now. This improves earnings across the sport and enhances funding to the middle and lower tiers.

“We want to encourage people to stay in our sport and bring new participants in. To do that, the sport has to be an attractive proposition. Owners spend over £30-million a month in training fees and collectively the industry needs to grow our income stream and ensure that owners receive a fair return through prizemoney.”

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£6-Million In Prizemoney At Royal Ascot

Prizemoney for Royal Ascot in 2021-set for June 15 to 19-will be £6-million, a 66% increase on 2020. Ascot Racecourse also revealed on Tuesday that the G1 King George VI and Queen Elizabeth S. in July will be worth £875,000, up from £400,000 in 2020 when purses took a massive hit in the midst of the pandemic.

Guy Henderson, chief executive officer at Ascot Racecourse, said, “In 2020 we had hoped to offer record prize money of more than £8-million at the Royal Meeting. In the event the pandemic made that impossible and we have now spent nearly a year racing behind closed doors with trading income down 80%. This year's prizemoney of £6-million represents 75% of what we had originally planned for 2020.

“With restricted attendances in 2021 and pandemic insurance cover no longer available, the business will need to absorb a significant loss this year in order to deliver our wish to support the industry with the most prize money that we can prudently afford. Whilst Covid-19 has knocked back our long term financial trajectory by several years, our aim is to make the largest steps we can towards getting prize money levels back on track as soon as possible.

“Without owners we would have no racing. We are very grateful for their commitment and thank them for their support. We look forward to being able to increase prize money further as soon as it is possible for us to do so. We are also very grateful to our official partners, QIPCO and Longines, as well as our official suppliers, sponsors, broadcast partners and betting media partners. All of their support is deeply appreciated. We at Ascot much look forward to being able to welcome back our racegoers in June and delivering a special week of racing, both for those who are able to be with us on site and the many millions who will be with us in spirit through our broadcast and digital channels.”

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