Landmark 150th Kentucky Derby to be richest in Classic's history as prize-money raised to record $5 million

This year’s Kentucky Derby will be the richest in the Classic's history, with its purse raised to $5 million (£3.9m/€4.5m) from $3 million, Churchill Downs announced on Wednesday.

The purse puts the Derby closest to the $6 million Breeders' Cup Classic as the richest race in the US, with stakes races during the spring racing programme at Churchill Downs benefiting from a 25 per cent increase in prize-money, totalling $5.1m, this year compared to last year.

Bill Carstanjen, chief executive of Churchill Downs Inc, said: "These record purse increases are a symbol of the health of horseracing in Kentucky. Churchill Downs Incorporated's over $1 billion investment into live and historical horseracing in Kentucky over the last five years has meaningfully strengthened the entire Kentucky Derby week and year-round racing programme. 

"It's important to acknowledge the state legislature for its commitment to working closely with private enterprise in a truly collaborative partnership to support the continued growth of Kentucky's signature industry."

With a record $5m in prize-money guaranteed for the 150th Kentucky Derby this year, the winner will receive the event's sought-after gold trophy, a $3.1m payday and possibly millions more as a stallion after retirement from racing. Also, $1m will be awarded to the runner-up, $500,000 to third, $250,000 to fourth, and $150,000 to fifth.

The Kentucky Derby purse had been worth $3m from 2019-23, $2m from 2005-18, and $1m from 1996-2004.

"It is truly gratifying to view the steady growth of the Churchill Downs racing product and the entire Kentucky horseracing and breeding industry, which bettors around the world have embraced," said Churchill Downs president Mike Anderson. 

At $1.5m, the Kentucky Oaks remains the nation's most lucrative race for three-year-old fillies. It had been worth $1.25m since 2019, $1m from 2011-18, and $500,000 from 1996-2010.

Four races on Kentucky Derby week over the Churchill Downs turf will offer horses an entry and travel incentive to run in some of Europe's most prestigious races, including during Royal Ascot. The current Churchill Downs turf course has experienced repeated difficulties in 2022-23, forcing the track to cease using it in November toward the end of its fall meet. 

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