Newbury racecourse boosts prize money
The Berkshire course say its down to more income from TV
Newbury racecourse has increased its prize money budget to a record £7m.
The rise in prize money is a 13% increase on last year and is down to increased media income.
This increased prize money will be offered across the 31 fixtures staged at the Berkshire track in 2024.
The inaugural Premier fixture, Betfair Super Saturday, taking place on Saturday 10th February will be the first to benefit from the increased prize money on offer. Both the Grade 2 Betfair Denman Chase and Grade 2 Betfair Game Spirit Chase will be run for a total prize fund of £85,000, a £15,000 increase on 2023. The second Premier fixture on Saturday 2nd March will see the BetVictor Greatwood Gold Cup Handicap Chase have a total of £100,000 prize money on offer, compared to £60,000 in 2023.
Other notable increases throughout Newbury’s National Hunt calendar include the Grade 2 Coral John Francome Novices’ Chase which sees a further £25,000 on offer to £75,000. The Mandarin Chase run on Coral Challow Hurdle Day, won in 2023 by trainer Toby Lawes with Surrey Quest, has more than doubled in prize money, with a total prize fund of £75,000, up from £30,650 in 2023. The sole Grade 1 of the season at Newbury, the Coral Challow Hurdle also benefits from an additional £15,000 in prize money with the 2024 renewal set to be run for a total prize fund of £100,000.
Throughout the summer Flat turf season, several of Newbury’s flat fixtures have received a further boost. The feature race of the Flat fixture list, the Group 1 Al Shaqab Lockinge Stakes, will this year be run for £400,000. The Listed Carnarvon Stakes, on the Lockinge Stakes undercard, sees an additional £15,000 in the total prize fund with WorldPool once again continuing their support of Al Shaqab Lockinge Day.
Julian Thick, Chief Executive of Newbury Racecourse, said:
“We have announced further prize money increases for the 2024 season with additional investment across both our Premier and Core fixtures taking Newbury to a record £7M in total prizemoney for the year. We have been able to make two successive years of significant advances in our prizemoney mainly due to our new media arrangements with Sky Sports Racing and our board are pleased to be able to do so at a time when the industry really needs such an investment. It is well known there are significant headwinds facing racecourses and further prizemoney increases in years to come will be very much dependant on Newbury being able to navigate these and create increased commercial returns through other trading activities such as growing attendances, that can then be shared with our industry partners."
Charlie Liverton, Chief Executive of the Reading-based Racehorse Owners Association, said:
“It is welcome news to see Newbury Racecourse increasing its prize money by 13% in 2024. Equally important is that the investment is being made across all of the 31 fixtures, not just the 11 Premier fixtures, as it is critical to ensure owners of horses running at Newbury across all classes are rewarded with increased returns. The staging of Class 5 races on the Flat for a minimum of £11,000, an increase of over 25%, is particularly welcome. With a well-regarded owners raceday experience and increased prize money, I am sure owners will look for opportunities for their horses at Newbury across the year.”
Jamie Snowden, trainer of 2023 Coral Gold Cup winner Datsalrightgino, said:
“As a local trainer to Newbury, it is a course we look to support as much as possible not only due to proximity but given it is one of the fairest tracks around. We have enjoyed many memorable days there, most notably winning the Coral Gold Cup which was a fantasy day for all involved. This increase in prize money is very welcome news and necessary for our loyal owners who put so much into the sport in what are challenging economic times for many. It will only boost the brilliant raceday experience already on offer for owners at Newbury.”
Eve Johnson-Houghton, leading local flat trainer, said:
“In our role we have to look after our owners without whom trainers wouldn’t be able to continue. Prize money is central to this and the news that Newbury is increasing their prize money offering by nearly £1 million is positive news. There are some big increases across the flat season and it is very pleasing that Newbury have made a further commitment to increasing prize money following last year’s increases. As our local track we enjoy having runners there and this will only help to further our support. Further to this, we welcome the commitment from Newbury to provide financial data to the Thoroughbred Group as part of the drive to greater transparency.”