Prize money at the Jockey Club’s 15 racecourses in 2022 is set to exceed £58 million for the first time, the largest commercial organisation in British horseracing announced on Monday morning.
Racing TV reports that as part of bouncing back from the Covid-19 pandemic, Jockey Club Racecourses (JCR) plans to distribute record prize money next year to participants (£58.2 million), subject to fixture abandonments and any return to lockdown measures. This would represent an increase of more than £12 million on forecast total prize money for 2021 at JCR (£46.1 million) and a boost of nearly £5 million compared to pre-pandemic levels of 2019 (£53.4 million).
Within this, The Jockey Club is budgeting to make a record executive contribution from its funds of £28.4 million – an increase of £2 million compared to 2019 (£26.4 million) and targeted at all levels of the sport. This is almost £12 million more than a decade ago (2012: £16.5 million, then a record). Governed by Royal Charter, The Jockey Club pumps any profits it makes back into Britain’s second biggest spectator sport.
Participants are set to race at JCR in 2022 for record average prize money of £172,000 per fixture, up £32,000 per fixture (up 23%) from £140,000 in 2021 and £14,000 per fixture more than pre-pandemic 2019’s figure of £158,000 per fixture (up 9%).
JCR is scheduled to stage 338 fixtures in 2022 from a total of 1,482 across British Racing (22.8%).
Total prize money raced for at JCR is scheduled to be more than £22 million extra (or 63.9% more) in 2022 than in 2012 (£35.5 million), from just two additional fixtures (2012: 336 fixtures). Even adjusted for inflation over the last decade, participants will be racing for 35.7% more prize money (£42.9 million vs £58.2 million).**
Nevin Truesdale, Chief Executive of The Jockey Club, said:
“The pandemic has been an incredible challenge that we have had to meet head-on. We still cannot be certain about what 2022 will bring, but we have enough confidence in the popularity of British Racing from our advance sales and all our revenue streams now fully firing as things stand to plan to fund and distribute a record amount of prize money next year across our 15 racecourses.
“It’s a proud moment to be able to announce this on behalf of The Jockey Club’s people today and a tribute to all their hard work and commitment over one of the most difficult periods our business and the whole industry has ever known. I would like to send advance thanks to participants for running their horses with us, racegoers for booking tickets and sponsors for their support, because everything we generate from commercially from these activities, we reinvest back into our sport.”
Charlie Liverton, Chief Executive of the Racehorse Owners Association, said: “I am delighted that The Jockey Club are able to make this significant contribution to their total prize money for 2022.
“It gives great comfort to those who invest in racehorses and breeding stock that, at a time when costs are increasing across the board, the value of the race programme is set to increase. The returns to owners and participants through prize money is critical to both the retention of horses in training and the growth of them.
“It is remarkable that as we enter in to 2022, given the impact the pandemic has had on businesses across the country, the number of active owners and horses in training is at some of the highest levels of the past five years. We look forward to continuing to work with The Jockey Club to maximise both prize money and the owners experience, on and off the racecourse, during 2022 and beyond.”
Emma Lavelle, President of the National Trainers Federation, said: “We are very pleased with The Jockey Club’s announcement of record prize money at their courses next year. This commitment, which is targeted at all levels of our sport, is both welcome and necessary, helping to support and encourage increased participation in British Racing.
