Jockey Club Reveals Record Turnover & Funding

The Jockey Club, which stages some of British horseracing’s most famous events including the Cheltenham festival and the Crabbie’s Grand National, has announced its latest financial results, with annual turnover, profits and funding back into the sport all hitting record levels.

The group, the largest commercial operation in the sport in Britain, increased its turnover in 2013 by 11% to £166.9 million, while its contribution to prize money reached £18.24 million, up 47% in five years. 

Meanwhile, total prize money at Jockey Club racecourses in 2013 reached a record £41.6 million and Group operating profits for the year increased 11% to a record £22 million.

‘I am pleased we report another excellent year for the Jockey Club, enabling us to deliver on our promise to act for the good of British racing,’ said Nicholas Wrigley, the senior steward.

‘The Jockey Club also takes seriously its wider role in British society. Racing is one of our greatest traditions, enjoyed by millions, with a deep and rich history.’

‘The way we operate, with all our profits invested back into our sport, is a reminder that long-term investment leads to long-term results.’

Simon Bazalgette, group chief executive of the Jockey Club, added: ‘2013 was a year where the Jockey Club grew our business for the fifth consecutive year and strengthened our balance sheet, allowing us to invest a record amount back into British racing while being in the privileged position of offering millions of visitors, viewers and listeners great experiences in the process.’

‘Every penny of profit we make we put back into our sport to support its long-term health and prosperity. Racing is a sport that generates more than £3.45bn to the UK economy each year and supports thousands of jobs.’

‘Looking ahead, I believe it is essential to introduce greater meritocracy within British racing. If we incentivise acts for the good of our sport, such as through a more meritocratic fixture process, Levy funding distribution and other rewards, we will grow the sport for all to benefit.’