Derby worth £500,000 as Jockey Club dips into its funds to salvage major prizes

At a time of big prize-money cuts, Jockey Club Racecourses has acted to shore up the value of the Investec Derby, which will be worth £500,000 next month.

That is five times the current industry-agreed minimum purse for a Group 1 of £100,000 and will make it twice as valuable as the richest race at Royal Ascot this week.

It compares with the €900,000 that the Prix du Jockey Club will be run for at Chantilly the next day, in line with a 40 per cent cut for all French Group 1 Flat races.

The Investec Oaks, to be run on the same card as the Derby at Epsom on July 4, will be worth £250,000, as will the Coral-Eclipse at Sandown on July 5 and the Darley July Cup at Newmarket on July 11.

Frankie Dettori wins the Coral-Eclipse on Enable last yearCredit: Edward Whitaker

With media rights payments limited and no income from spectators as racing has resumed behind closed doors, JCR had previously warned that prize-money for its flagship events would not reach the levels of last year, when the Derby was run with an advertised value of £1.5 million.

But the group has been determined to try to preserve the value of its major contests in straitened times and has made executive contributions of £400,000 to the Derby prize fund and, adding in the 1,000 Guineas and 2,000 Guineas, provided £1.15 million of support to its first six Group 1 races of the season.

News of the prize fund comes just days after the Horsemen’s Group claimed in a letter to the Racecourse Association, which was leaked to the Racing Post, that no such executive contributions were currently being made.

Richard Norris, group racing director for JCR, said: "Jockey Club Racecourses is operating at a loss with racing behind closed doors. Nevertheless we continue to make executive contributions and feel it is important to invest in races that represent the very best of the Flat season.

"Therefore, prize funds for the Investec Derby, Investec Oaks, Coral-Eclipse and Darley July Cup far exceed new industry-agreed minimum values and are worth a combined total of £1.25 million.

Ten Sovereigns (Ryan Moore) lands the July Cup in 2019Credit: Edward Whitaker

"We're proud of the Jockey Club's record on prize-money and this is a further illustration of us doing everything we can to support the industry."

Betting on the Derby, which will be run at 4.55pm and shown live on ITV, is currently headed by Lingfield Derby Trial winner English King and Kameko, who landed the 2,000 Guineas.

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