Record prize-money of £58.2m to be offered at Jockey Club tracks in 2022

British racing is set to receive a much-needed financial boost in 2022 with the news that prize-money at the Jockey Club's 15 racecourses is set to exceed £58 million.

The figure of £58.2m, which is subject to abandonments and any return to lockdown measures, represents an increase of more than £12m on forecast total prize-money for 2021 at Jockey Club Racecourses and a boost of nearly £5m compared to the pre-pandemic level of £53.4m in 2019.

Prize-money in Britain was hit hard by the Covid-19 pandemic as the absence of racegoers at racecourses for much of the period meant they were unable to make a contribution towards purses.

The Jockey Club has said it expects the impact of Covid-19 to have reduced its revenues by more than £170m over the last two years, while the group's core operating profits dropped to £1.5m last year from £20.5m in 2019 according to its latest financial figures.

However, with full crowds returning in July this year, the Jockey Club has committed to make a record executive contribution from its funds of £28.4m – an increase of £2m compared to 2019 and a sum which it said would be targeted at all levels of the sport. The figure in 2012 was £16.5m.

Jockey Club chief executive Nevin Truesdale

Jockey Club chief executive Nevin Truesdale said: "The pandemic has been an incredible challenge that we have had to meet head-on.

"We still cannot be certain about what 2022 will bring, but we have enough confidence in the popularity of British racing from our advance sales and all our revenue streams now fully firing as things stand to plan to fund and distribute a record amount of prize-money next year across our 15 racecourses."

Participants are set to race for record average prize-money of £172,000 per fixture at the Jockey Club's racecourses next year, up £32,000 per fixture in 2021 and £14,000 per fixture more than the 2019 figure of £158,000

The Jockey Club's portfolio of courses includes Aintree, Cheltenham, Epsom and Newmarket.

Truesdale added: "It’s a proud moment to be able to announce this on behalf of the Jockey Club’s people today and a tribute to all their hard work and commitment over one of the most difficult periods our business and the whole industry has ever known.

"I would like to send advance thanks to participants for running their horses with us, racegoers for booking tickets and sponsors for their support, because everything we generate commercially from these activities, we reinvest back into our sport."

The Jockey Club's announcement follows Arena Racing Company's pledge in October to increase its executive contribution to prize-money in 2022 to £21.7m, £4m higher than 2019 values.

Racehorse Owners Association chief executive Charlie Liverton

News of the Jockey Club's plans was welcomed by Racehorse Owners Association chief executive Charlie Liverton.

He continued: "It gives great comfort to those who invest in racehorses and breeding stock that, at a time when costs are increasing across the board, the value of the race programme is set to increase.

"The returns to owners and participants through prize-money is critical to both the retention of horses in training and the growth of them.

"It is remarkable that as we enter into 2022, given the impact the pandemic has had on businesses across the country, the number of active owners and horses in training is at some of the highest levels of the past five years. We look forward to continuing to work with the Jockey Club to maximise both prize-money and the owners experience, on and off the racecourse, during 2022 and beyond."

National Trainers Federation president Emma Lavelle said trainers were "very pleased" with the Jockey Club’s announcement.

"This commitment, which is targeted at all levels of our sport, is both welcome and necessary, helping to support and encourage increased participation in British racing," she added.

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