Record prize-money on offer at Ascot in 2022 plus Shergar Cup meeting expands

Ascot has become the latest racecourse to reveal it will offer record prize-money in 2022, with much of the increase aimed at maintaining the lustre of the royal meeting.

A total of £15.64 million will be on offer in 2022, not including Qipco British Champions Day, which is an industry partnership, with increases across the Flat and jumps programme. That represents a near £2m or 14.4 per cent increase on pre-pandemic levels.

The King George VI & Queen Elizabeth Stakes will return to its pre-pandemic value of £1.25m, while record prize-money will be offered at the Dubai Duty Free Shergar Cup, which is set for an expanded format.

The increases are being made despite Ascot being hit hard by the Covid-19 pandemic, which has affected the last two Royal Ascots, the course's most lucrative event.

Ascot recorded a loss of £200,000 in 2020 and is expecting losses to extend to more than £10m this year.

Nevertheless, the course is set to make an estimated executive contribution to prize-money of £8.3m in 2022.

News of the increase follows the Jockey Club's announcement this week that prize-money at its 15 racecourses will hit a record £58.2m next year, and Arena Racing Company's pledge in October to increase its executive contribution to prize-money in 2022 by £4m to £21.7m.

Next year's Royal Ascot will be worth £8,652,500, an increase of £1,322,500 on 2019 values.

The opening day of the meeting, featuring three Group 1 races, becomes Royal Ascot’s first £2m day while the Prince of Wales’s Stakes and the renamed Platinum Jubilee Stakes will become the first races at Royal Ascot to be run with a total prize fund of £1m. No race at Royal Ascot will be run for less than £100,000.

Guy Henderson: 'Prize-money is racing's equivalent of remunerating the players on the pitch'Credit: Edward Whitaker

Ascot chief executive Guy Henderson said the need to maintain the quality of the top end of British racing was why so much of the prize-money increase had been targeted at the royal meeting.

"We are pleased to be able to announce a return to our pre-pandemic prize-money plans as we rebuild," Henderson said. "Whilst these plans have been unavoidably delayed, today is about looking forward.

"It is vital we maintain the quality of the British Pattern and the top-end programme generally. For obvious reasons, a large proportion of the increases announced today are focused on our 35 races at the royal meeting.

"Prize-money is racing's equivalent of remunerating the players on the pitch. We need to offer the best we can in order to attract the best and help maintain international investment in British racing.

"Our next ambition, as we build Ascot as a global brand wrapped around world class racing, is to be able to offer at least £1m for each of our nine Group 1 races in the coming years."

Prize-money for the Shergar Cup will be a record £550,000, up from £360,000 in 2019. The programme for the fixture will increase to eight races from six, with 12 runners in each race (from ten). Details of the team format will be released next year.

Ascot said all its Flat races would be worth at least £15,000 and all jumps races worth at least £10,000, with the exception of three bumpers and one hunter chase.

There will be additional £25,000 stable prizes offered on both King George day and Shergar Cup day.

However, Ascot did warn that plans remained subject to change depending on the Covid-19 landscape.

Henderson added: "Field sizes for races of both codes are under pressure. With this in mind, we have applied a number of targeted increases across our programme and raised our minimum prize-money levels for both codes.

"Specifically, we have made some changes to Qipco King George Diamond weekend and expanded the Dubai Duty Free Shergar Cup to eight races with fields of 12; the established races increase from £60,000 to £75,000 and we have added two new £50,000 races.

"Our aim is for the stable prizes to incentivise owners and trainers to target these two fixtures and build on the successful trial at this year's Dubai Duty Free Shergar Cup.

Henderson, who will step down as chief executive after Royal Ascot next year, added: "I wish to conclude by thanking Ascot’s staff, our customers and commercial partners for all their loyal support in 2021, which has so significantly contributed to the business being able to advance again in 2022."

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