Prize money boost is next step in re­cov­ery plan

The Daily Telegraph - Business - - Sport Racing - By Mar­cus Army­tage

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.”

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