Jockey Club Contributes Record Prize Money

The Jockey Club has revealed plans to make an industry record £19.5 million contribution to prize money in 2014 from its own resources, beating its own previous record high of £18.4m. 

Since 2009, the Jockey Club – the largest commercial group in British horseracing – has increased its annual contribution to prize money by £7.1m as a result of its commercial success.

The Jockey Club’s 15 racecourses nationwide – which include Aintree, Cheltenham, Epsom Downs and Newmarket’s Rowley Mile and July Course – expect to offer record total prize money in excess of £42 million in 2014 from 364 scheduled fixtures. 

This equates to record average prize money per fixture of £118,000 and per race of £17,000 next year. Prize money provides an important return to racehorse owners and is essential to the livelihoods of trainers, jockeys and stable staff. It is also considered an indicator of the overall health of Britain’s second biggest spectator sport.

Based on its 2014 plans, the Jockey Club – which reinvests every penny it makes back into the sport – will have increased its contribution to prize money by 57% since 2009. 

The 2014 prize money boost will reportedly be focused on rewarding horsemen throughout Jockey Club Racecourses’ race programme, with each racecourse in the group offering increased prize money compared to 2013. 

While each racecourse will announce its prize money details individually, already announced highlights include the first £1m Crabbie’s Grand National.

The Jockey Club’s planned contribution to prize money in 2014 exceeds the level committed to when signing up to The Horsemen’s Group Premier Tier prize money agreement in September 2013, which requires Jockey Club Racecourses to convert at least 40% of betting-related media growth into prize money funding.

Simon Bazalgette, group chief executive, the Jockey Club, said of the news: ‘Prize money is the lifeblood of British racing, providing a return for racehorse owners and supporting trainers, jockeys and stable staff. It is an important measure of the health of our sport. As a result of the continued growth of our business, I’m delighted to announce plans for The Jockey Club to contribute more than ever before into prize money in 2014, with our year-on-year increase once again far outstripping improvements in the wider economy.’

‘At the same time we have been raising capital to invest in projects designed to enhance the customer experience we offer and increase our returns. In particular at Cheltenham we have our biggest ever facilities development, which will cost £45m to be ready ahead of the 2016 Festival. The demands on our Group remain significant and our sport’s funding model still requires major works, but without shareholders The Jockey Club’s sole reason for existence is to support British racing, meaning the more successful we can be commercially, the more we can do for our sport.’