Ascot has become the latest racecourse to reveal that it will offer a record amount of prize money in 2022, with much of the increase intended to maintain the glitz of the royal meeting.
A total of £15.64 million will be offered in 2022, excluding QIPCO UK Championship Day, which is an industry partnership, with increases across the entire program skyrocketing. That represents an increase of almost £2 million or 14.4% from pre-pandemic levels.
The shares of King George VI and Queen Elizabeth (G1) will return to their pre-pandemic value of £1.25 million, while record prize money will be awarded at the Dubai Duty Free Shergar Cup, which is set to for an extended format.
The increase is being made despite Ascot being hit hard by the COVID-19 pandemic, which has affected the two most recent Royal Ascots, the most lucrative event of course.
Ascot records a loss of £200,000 in 2020 and expects the loss to stretch to more than £10 million this year.
However, the course is set to make an estimated executive contribution to the prize money of £8.3 million by 2022.
News of the surge follows Jockey Club’s announcement this week that prize money at their 15 races will hit a record £58.2m next year and the Arena Racing Company pledge in October will increase the executive contribution to the bounty in 2022 to £4 million. 21.7 million pounds.
Royal Ascot next year will be worth £8,652,500, up £1,322,500 from its 2019 value.
The opening day of the meeting, with three Group 1 races, became the first day of the £2m Royal Ascot while the Prince of Wales (G1) and Platinum Jubilee (G1) Shares were exchanged. names will become the first races at Royal Ascot to be held with a total prize pool of £1 million. No race at Royal Ascot will be held for less than £100,000.
Ascot chief executive Guy Henderson said the need to maintain the quality of the UK’s top tier was why so many prize increases had been targeted at the royal meeting.
“We are pleased to be able to announce the return of our pre-pandemic bounty plan as we rebuild,” said Henderson. “While these plans were inevitably delayed, today is forward.
“It is important that we maintain the quality of the UK model and the premium program in general. For obvious reasons, much of the increase announced today is focused on our 35 races at royal meeting.
“Race prize money is the equivalent of paying the players on the field. We need to offer the best we can to attract the best and help sustain international investment in racing. British car.
“Our next ambition, as we build Ascot as a global brand around world-class racing, is to be able to deliver at least £1m per race of the nine races. our group 1 in the years to come.”
Guy Henderson, Managing Director of Ascot
The prize money for the Shergar Cup will be a record £550,000, up from £360,000 in 2019. The scheme for the schedule will increase to eight races from six, with 12 runners running in each race (from ten). Details on the team’s format will be announced next year.
Ascot says all their flat races will be worth at least £15,000 and all jump races are worth at least £10,000, with the exception of three collision races and one chase of the hunter.
There will be an additional £25,000 in stability prizes on offer on both King George Day and Shergar Cup day.
However, Ascot has warned that plans could still change depending on the COVID-19 context.
Henderson added: “The field sizes for races for both codes are under pressure. With this in mind, we’ve adopted several targeted increases throughout our program and increased the bounty levels. minimum for both codes.
“Specifically, we made some changes to QIPCO King George Diamond over the weekend and expanded the Dubai Duty Free Shergar Cup to eight races across 12 fields; established races increased from £60,000 to £75,000 and we’ve added two new £50,000 races.
“Our aim is the stability awards to incentivize owners and coaches to aim for these two devices and build on the successful testing at this year’s Dubai Duty Free Shergar Cup.
Henderson, who will step down as chief executive after Royal Ascot next year, added: “I’d like to close by thanking Ascot employees, our customers and commercial partners for all of their support. their loyal household in 2021, which has significantly contributed to the business being able to thrive again in 2022.”
