Prize money boost is next step in recovery plan
Prize money is to increase at all levels and return to preCovid levels for Class Two races and below in an agreement between the Levy Board and racecourses after the fixture list for September to December was belatedly published yesterday. Bigger races will rise from 50 per cent of their original values to 75 per cent.
Due to the positive performance of betting since racing’s resumption on June 1, the Levy Board has agreed to increase its support of prize money for the four-month period by 50 per cent to £26.6 million, while the racecourses have agreed to pay executive contributions to prize money from the media rights funds they earn.
The fixture list is not dissimilar to that published for the period a year ago subject to a maximum five fixtures a day, start times scheduled to avoid race clashes, seven racecards with one race to divide if necessary and jockeys will still only be able to attend one meeting a day, meaning a maximum of four Flat meetings a day.
“As owners plan for 2021, this increase in minimum prize money across all levels from September is a critical part of the sport’s recovery,” said Richard Wayman, chief operating officer of the British Horseracing Authority.
“While there is a long way to go, the increase in minimum values together with the reintroduction of the appearance money scheme are clearly steps in the right direction.”