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Ascot Racecourse Releases 2020 Business Summary

The 2020 financial results were announced by Ascot Racecourse on Wednesday. Total turnover was down by 77% due to COVID-19 restrictions with only two racedays being held with spectators and another 18 run behind closed doors. There were also five lost racedays due to the pandemic and one abandonment due to inclement weather. Pandemic insurance and support from the UK Government through the Coronavirus Job Retention Scheme and business rates relief prevented a pre-tax loss of over £31 million. In addition, the staff were restructured to adjust to pandemic trading conditions. At the end of 2020, the gross debt for the racecourse stood at £59.4m compared to 2019's £57.4m. A standby loan facility of £20m until 2023 was arranged through the Government Coronavirus Large Business Interruption Loan (CLBILS) scheme, but was not drawn down.

Guy Henderson, Chief Executive Officer at Ascot Racecourse, said, “2020 was naturally a difficult year with trading conditions and results severely affected by the Covid-19 restrictions. The financial impact was mitigated by cushions such as the Coronavirus Job Retention Scheme, Business Rates Relief and pandemic insurance for racing without crowds, but Ascot's financial position and ambitions have suffered a setback.

“Ascot had to reduce fixed costs at the end of 2020. Having to lose dedicated and loyal employees, who had contributed to Ascot's success over recent years, was hard for all concerned. I wish to pay tribute to and thank all our staff for their dedication and commitment in such difficult and uncertain times.

“We also wish to thank all our partners, suppliers, sponsors and various customers for their support.

“Without pandemic insurance this year and with strict limits on crowds at Royal Ascot for the second year, we currently forecast a significant pre-tax loss in 2021. That said, the business is on track to end the year without having to increase debt in 2021. This will provide a solid platform from which to bounce back from the pandemic in 2022 and 2023.

“Prize money and capital investment have inevitably been impacted as a result of the pandemic. We plan to build back on both fronts to pre-Covid levels as prudently and as quickly as practicable from next year. Attracting and rewarding the best quality racing and providing top class facilities are important business priorities.

“Royal Ascot in the Platinum Jubilee year will be a huge celebration and our focus is on delivering a unique event for everyone to enjoy across the globe.”

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Virtual IFHA Conference Looks to Future of Racing

The 2021 International Conference of Horseracing Authorities, organised by the International Federation of Horseracing Authorities (IFHA), will be held virtually for the second year in a row on Oct. 4.

This year's focus will be on global racing's evolution and future challenges, with the conference digitally released on Oct. 7. New IFHA Chair Winfried Engelbrecht-Bresges will give the keynote speech, as well as several panel discussions. Some of the topics to be covered in this year's conference include: digitalisation and media; equine welfare; and climate change and sustainability. Rishi Persad will return as a moderator. FOX Sports' Executive Vice President, Head of Strategy and Analytics Michael Mulvihill will discuss digitalisation and media, Racing Victoria Executive Manager Integrity Services Jamie Stier, who also serves as the Chair of the IFHA Horse Welfare Committee, and Retraining of Racehorses (RoR) Chief Executive Di Arbuthnot, who also chairs the International Forum for the Aftercare of Racehorses (IFAR) will speak on equine welfare. Allen Hershkowitz, a Founding Director and Chairman of Sport and Sustainability International, as well as the Environmental Science Advisor to the New York Yankees, will address the threat of climate change.

“Under Louis Romanet's leadership, the Federation has made significant progress in achieving its mission as a vehicle for harnessing our collective efforts for the benefit of the future development and prosperity of Thoroughbred racing,” said Engelbrecht-Bresges. “It is a privilege to commence my term as the second Chair in the Federation's history, and I am energised at the prospect of working with our members and stakeholders to build on the Federation's sound foundations.”

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Group Winner Grocer Jack Highlights Tattersalls Autumn HIT Sale

Group 3 winner Grocer Jack (Ger) (Oasis Dream {GB}) is one of the highlights of the four-day Tattersalls Autumn Horses in Training Sale from Oct. 25-28. One of 1,577 lots catalogued, the 4-year-old colt (lot 738) was second in the G1 Bayerisches Zuchtrennen and is rated 118 by Timeform.

Several recent sale graduates have enjoyed Group 1 success on an international level in 2021, including Salute The Soldier (Ger) (Sepoy {Aus}) and Zaaki (GB) (Leroidesanimaux {Brz}). The catalogue features 80 group and listed performers. Among them are two-time group placed Hierarchy (Ire) (Mehmas {Ire}) (lot 1205); Listed Windsor Castle S. winner Chipotle (GB) (Havana Gold {Ire}) (lot 1055); G1 Cazoo St Leger third and fourth The Mediterranean (Ire) (Galileo {Ire}) (lot 238) and Interpretation (Ire) (Galileo {Ire}) (lot 236); and G1 Melbourne Cup runner-up Tiger Moth (Ire) (Galileo {Ire}) (lot 548); listed winner Chalk Stream (GB) (Sea The Stars {Ire}) (lot 666); and G3 March S. winner Dancing King (Ire) (Free Eagle {Ire}) (lot 778).

There are sizable drafts from Juddmonte (10), Coolmore (52), Shadwell (154), Godolphin (20), William Haggas's Somerville Lodge (25), The Castlebridge Consignment (101), Mark Johnston's Kingsley Park (54), Richard Hannon's East Everleigh Stables (51), Andrew Balding's Park House Stables (36), and Roger Varian's Carlburg Stables (32).

Tattersalls Chairman Edmond Mahony said, “The unique diversity of the Tattersalls Autumn Horses in Training Sale is the key to its enduring appeal to both domestic and international buyers. Flying the flag this year for the Autumn Horses in Training Sale is the outstanding Australian multiple Group 1 winner Zaaki, purchased at last year's sale, and this year's catalogue has all the ingredients to appeal to the customary global audience including the significant, high-class consignments from Godolphin, Juddmonte Farms and Shadwell Estates.”

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Adayar and Snowfall Supplemented to Arc

Classic winners Adayar (Ire) (Frankel {GB}), and Snowfall (Jpn) (Deep Impact {Jpn}) were both supplemented for €120,000 each to the G1 Qatar Prix de l'Arc de Triomphe on Sunday, bringing the field to 16 at the latest entry stage.

Godolphin's G1 Cazoo Derby and G1 King George VI and Queen Elizabeth S. winner is one of two to carry the royal blue in the ParisLongchamp showpiece alongside G1 Dubai Duty Free Irish Derby, G1 Grand Prix de Paris and G1 Cazoo St Leger victor Hurricane Lane (Ire) (Frankel {GB}).

Snowfall has enjoyed an outstanding season, kicked off by a win in the G3 Musidora S. at York in May before taking the G1 Cazoo Oaks in June, the July 17 G1 Juddmonte Irish Oaks, and Aug. 19 G1 Darley Yorkshire Oaks. The Coolmore partners colourbearer was only 1 ½ lengths behind Roger Varian's Teona (Ire) (Sea The Stars {Ire}) in the G1 Qatar Prix Vermeille on Sept. 12. Aidan O'Brien also saddles five-time Group 1 winner Love (Ire) (Galileo {Ire}) and Broome (Ire) (Australia {GB}), successful in the G1 Grand Prix de Saint-Cloud in July.

His Highness The Aga Khan's Tarnawa (Ire) (Shamardal), an electric winner of the GI Breeders' Cup Turf last season and second to the recently retired St Mark's Basilica (Fr) (Siyouni {Fr}) in the G1 Irish Champion S. on Sept. 11, lines up for Dermot Weld. Shadwell's G2 Darley Prix de Pomone victress Raabihah (Sea The Stars {Ire}) is also signed on from the Jean-Claude Rouget yard, while Richard Hannon sends Derby second and St Leger runner-up Mojo Star (Ire) (Sea The Stars {Ire}) for Amo Racing. Alenquer (Fr) (Adlerflug {Ger}) will take part for trainer William Haggas. Germany is represented by Group 1 winner Torquator Tasso (Ger) (Adlerflug {Ger}) for trainer Marcel Weiss.

Japan's four-time Group 1 winner Chrono Genesis (Jpn) (Bago {Fr}) and Sept. 12 G2 Prix Foy victor Deep Bond (Jpn) (Kizuna {Jpn}) are also entered. The pair will be ridden by Oisin Murphy and Mickael Barzalona, respectively.

“Cristian [Demuro] couldn't ride for various reasons and I was surprised that Mickael Barzalona was free in the race,” said Ryuji Okubo. “It will depend on the weather [how Deep Bond is ridden]. There is rain forecast over the weekend, so the ground is going to be a little bit softer than it was on the day of the Prix Foy.

“Everything will really depend on the pace of the race and also the draw. In Japan he doesn't usually run from the front, he usually drops in behind the leader and obviously on Sunday we will have to think how that will pan out, but we wouldn't want to have Chrono Genesis just sitting behind.”

The Arc field is rounded out by Cedric Rossi's Group 1 winner Sealiway (Fr) (Galiway {GB}), and the G2 Qatar Prix Niel one-two of Bubble Gift (Fr) (Nathaniel {Ire}) and Baby Rider (Fr) (Gleneagles {Ire}).

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