Jockey Club Racecourses Gives Prizemoney Boost

The Jockey Club Racecourses will make an executive contribution of £3.7-million to the purses at its racecourses through the final four months of 2020. The purse boost will ensure that most class one to three races will be worth 80% of their pre-pandemic value, and none less than 75%. Purses have still been dealt a significant blow, however; total purses for the 112 fixtures from September to December at Jockey Club Racecourses will be £13.5-million, down from an originally projected £16.38-million. The Jockey Club Racecourses is expected to see its revenue drop by £75-million this year.

The Jockey Club Racecourses also confirmed that the G1 Darley Dewhurst S. on Oct. 10 and the G1 bet365 Fillies' Mile on Oct. 9 will be worth £400,000, and the G1 Betfair Sprint Cup at Haydock on Sept. 5 will carry a purse of £225,000.

Trainer William Haggas praised the Jockey Club Racecourses' efforts, saying, “There is no country in the world who has to rely more on people's attendance to help fund the sport than here in Britain. Jockey Club Racecourses' loss of revenue from racing behind closed doors has been a financial catastrophe. However, I am delighted they have seized the initiative to improve and increase their prize money for the rest of the year, which is greatly appreciated by participants, and I commend their efforts in achieving the best possible outcome for racing. It is hugely important to us all that we get back to normal as soon as possible, and in the meantime it is vital we continue to be diligent and concentrate on not spreading the risk of this disease.”

Richard Norris, group racing director for Jockey Club Racecourses, said, “Jockey Club Racecourses is committed to all levels of our sport. In recent years we have increased prize money at grassroots levels, for example, by 33%, and in this funding crisis we're pleased to see the Levy Board stepping up its support. Their focus on supporting the middle and lower tiers of British Racing is seeing minimum prize money values for those race classes return to their pre-pandemic thresholds, helped by our executive contributions and owners' entry stakes. We're grateful for the Levy Board's contribution and to all our sponsors for their continued support. It means JCR's executive contribution can make a considerable difference to the upper tiers of our sport, compared to what incentives would now be otherwise, ensuring the value of high-profile fixtures reflect the quality of the racehorses we want to attract to race and that fans want to watch and bet on.

“We always do the absolute maximum we can to fund prize money, and that's exactly what we're doing now with hugely reduced revenues not even allowing us to cover our costs at the moment. With the majority of our revenue streams at zero with no spectators, this is an incredibly challenging period financially for JCR, as we recognise it is across different sectors of society.”