Why Newbury? And why now? Analysing under-fire racecourse's prize-money woes

Newbury racecourse and its huge residential development project came under the spotlight in a Racing Post special report published this week and prize-money was cited as the track's biggest issue despite improvements across the venue.

Richard Hannon and Nicky Henderson, the track's two biggest supporters on the Flat and over jumps respectively, criticised the prize-money offering, a stance other trainers took further when no runners were declared for a 1m2f fillies' novice at the end of Saturday's high-profile card in an apparent boycott.

National Trainers' Federation president Ralph Beckett was one of ten trainers represented in the entries who decided not to declare. He said the prize fund being offered on what is likely to be Newbury's busiest day of the season fell well below expectations, particularly given the racecourse's status as a Group 1 track, and the data firmly backs up his views.

While Newbury has just the one top-level prize for each code – the Lockinge in May and Challow Hurdle in December – it compares poorly to similar tracks. In 2021, average prize-money offered for the winner of a maiden or novice was £5,082 which is, other than Doncaster coming in at £4,314, the lowest offered by a top-level Flat track. Saturday's winner would have collected just £3,510.

For Group and Listed races on the Flat, an average first-place prize of £41,986 is the lowest of any of Britain's ten Group 1 venues (including the two Newmarket courses separately). The story is similar over jumps. Average prize-money for Graded or Listed races, not including handicaps, was again the lowest for a top-level venue.

Even more concerning is how Saturday's cancelled race compares to similar contests at other tracks. Of the 67 Class 5 fillies' novice races staged in Britain this year, only one had a smaller winning prize than £3,510. Two offered the same first prize, but one of those was also at Newbury.

Stage Star wins the Grade 1 Challow Hurdle in DecemberCredit: Mark Cranham (racingpost.com/photos)

There are some positives among Newbury's prize-money offering. The Ladbrokes Trophy is the second richest handicap chase in Britain behind the Grand National, while the Betfair Hurdle tops the rankings for handicap hurdles. However, Thursday's development clearly sends out a message that cannot be ignored.

Newbury's development has been a great success, bringing in £33m and providing the funds to give the track's facilities a much-needed facelift. There is, however, no direct correlation between the earnings from land and prize-money. That pool comes from operating profit and, as such, the most significant development from a prize-money perspective is the betting media rights deal which comes into play in 2024.

A deal with Sky Sports Racing and The Racing Partnership was hailed as a "big step in the right direction" by the track's chief executive Julian Thick and it will be crucial to the future of the racecourse.

Read more:

Inside Newbury's remarkable transformation – which might just show us the future (Members' Club)

Beckett points to poor prize-money after no runners declared for Newbury race

Flat racing hit by more dismal field sizes as trainers warn of worse to come

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