The Jockey Club announces 2024 prize money will exceed £60million

09 January 2024

Total prize money at The Jockey Club’s 15 racecourses will exceed £60 million for the first time in 2024, after British horseracing’s largest commercial operator increased its executive contribution.
An overall prize money total of £60.1 million will be offered across the 334 fixtures due to be staged by The Jockey Club this year, with £31.8 million coming from executive contribution – the amount the organisation puts in from its own funds – which is up 66.5 per cent from the £19.1 million it reinvested into prize money 10 years ago.
The 2024 figures are an increase on the same numbers for 2023, which saw executive contribution projected at £31.1 million and total overall prize money of £59 million for the 342 fixtures scheduled to be staged last year.
The prize money figures are budgeted and subject to abandonments and potentially significant economic changes. The Jockey Club will confirm and announce values for specific races and fixtures in due course.
As well as prize money The Jockey Club has budgeted to spend £11.7 million over the next 12 months on upgrades to its racecourses, which includes investment into improving racing surfaces, equine facilities and welfare standards.
Nevin Truesdale, Chief Executive of The Jockey Club, explained: “Given the unprecedented financial headwinds the horseracing industry is currently facing, we are pleased to be able to announce today that The Jockey Club’s executive contribution to prize money will be increased to £31.8 million in 2024, taking our overall prize money past the £60 million mark for the first time.
“Our mission is to power racing’s future and to ensure that our sport thrives for generations to come.
“So, while we continue to take important steps to improve our business efficiency in the face of significant and unprecedented economic challenges, there is also an ongoing focus on investing across our estate, which includes a commitment to prize money. This has led us to some very difficult decisions in our financial planning for 2024 and we are pleased to be able to deliver an increase in prize money investment in these very challenging circumstances.
“In addition to prize money The Jockey Club will continue to invest in many other areas of the sport, including equine welfare and improving the raceday experience. We hope that by doing so, we will drive engagement, expand our fan base and increase attendances for the good of the sport.”
Charlie Liverton, Chief Executive of the Racehorse Owners Association, said: “This is welcome news from The Jockey Club in an era of significantly increasing costs. Racehorse owners are huge net investors into the sport, and they are not immune from the economic headwinds, so it is more vital than ever that their contributions are recognised and rewarded via prize money and an excellent raceday experience.
Our hope is that the increased openness around the financial data in due course will help owners, trainers, breeders, jockeys and stable staff to have clarity around the Jockey Club strategy to improve its business performance for the benefit of all.”