Record £10 million on offer at Royal Ascot in 2024 as track reveals prize-money levels

Prize-money at Royal Ascot will be worth £10 million for the first time next year, with a record £17.5 million on offer at the track across 2024.

Overall prize-money, excluding the industry-owned Qipco British Champions Day, is up from £16.8 million this year.

All Group 1 races at Royal Ascot will be worth a minimum of £650,000, an increase of £50,000 for several top-level contests including the Gold Cup, Commonwealth Cup and St James’s Palace Stakes.

Ascot's increase in prize-money comes a week after the Racecourse Association warned purses may fall in 2024 with affordability checks heading a "triple whammy" of financial blows for racecourses.

Nick Smith: "It is crucial for Royal Ascot to maintain its position on the global stage"Credit: Edward Whitaker

Nick Smith, director of racing and public affairs at Ascot, said: “We are pleased to be delivering these prize-money increases in 2024 against a backdrop of uncertainty and an unprecedented number of negative headwinds for the industry. The financial impact on all facets of the industry is already being acutely felt.

“It is, however, crucial for Royal Ascot to maintain its position on the global stage at a time when participants at home and abroad have so many alternative lucrative options away from Britain.

“While the main increases have been made to the royal meeting to enable us to get to £10 million for the first time, we have made increases in other areas of the programme as well.

“These include increases to fit with the new Premier fixture structure, including at the Dubai Duty Free Shergar Cup, where there is a particular focus on maintaining full fields.

“Importantly, no race at Ascot will be run for less than in 2023, including at our core [non-Premier] fixtures. This is in spite of a reduction in central funding to this element of the programme, which has therefore required further increases in executive contribution.”

Every race at the royal meeting, which takes place from June 18 to June 22, will have a purse of at least £110,000, with the minimum value up by £10,000.

Read more . . .

'Many trainers' businesses are under pressure' - NTF chief issues warning over potential prize-money reduction in 2024 

Thoroughbred Group chair calls for more transparency after casting doubts over prize-money warning 

British racing warned prize-money may fall in 2024 as affordability checks head 'triple whammy' of financial blows 

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