TIDMNYR
Newbury Racecourse PLC
15 January 2024
Reach non-regulatory announcement
15 January 2024
NEWBURY RACECOURSE PLC
Update on prize money
The Company has today made an announcement to the racing
industry in relation to its prize money allocation for the current
year and beyond.
The full text of this announcement is set out below.
For further information please contact:
Newbury Racecourse plc Tel: 01635 40015
Mark Leigh, Finance Director
Allenby Capital Limited Tel: 0203 328 5656
Nick Naylor/Liz Kirchner (Corporate
Finance)
Hudson Sandler Tel: 0207 796 4133
Charlie Jack
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Text of the Company's announcement to the racing industry
today
NEWBURY RACECOURSE ANNOUNCE FURTHER 13% INCREASE IN PRIZE MONEY
WITH RECORD AMOUNT OF GBP7M ACROSS 2024 SEASON
Newbury Racecourse has today announced a record GBP7 million
prize money budget for 2024, which represents a 13% like-for-like
increase on 2023. This follows a 16% increase from 2022. The rise
in prize money has come about as a direct result of the increased
media income Newbury anticipates earning from the move to Sky. The
executive contribution on offer will also increase to a record
GBP3.5m, which is a 14% increase on 2023 following a 26%
year-on-year rise from 2022.
This increased prize money will be offered across the 31
fixtures staged at the Berkshire track in 2024, 11 of which qualify
as one of the newly introduced BHA Premier fixtures.
The inaugural Premier fixture, Betfair Super Saturday, taking
place on Saturday 10(th) February will be the first to benefit from
the increased prize money on offer. Both the Grade 2 Betfair Denman
Chase and Grade 2 Betfair Game Spirit Chase will be run for a total
prize fund of GBP85,000, a GBP15,000 increase on 2023. The second
Premier fixture on Saturday 2(nd) March will see the BetVictor
Greatwood Gold Cup Handicap Chase have a total of GBP100,000 prize
money on offer, compared to GBP60,000 in 2023.
Other notable increases throughout Newbury's National Hunt
calendar include the Grade 2 Coral John Francome Novices' Chase
which sees a further GBP25,000 on offer to GBP75,000. The Mandarin
Chase run on Coral Challow Hurdle Day, won in 2023 by trainer Toby
Lawes with Surrey Quest, has more than doubled in prize money, with
a total prize fund of GBP75,000, up from GBP30,650 in 2023. The
sole Grade 1 of the season at Newbury, the Coral Challow Hurdle
also benefits from an additional GBP15,000 in prize money with the
2024 renewal set to be run for a total prize fund of
GBP100,000.
Throughout the summer Flat turf season, several of Newbury's
flat fixtures have received a further boost. The feature race of
the Flat fixture list, the Group 1 Al Shaqab Lockinge Stakes, will
this year be run for GBP400,000. The Listed Carnarvon Stakes, on
the Lockinge Stakes undercard, sees an additional GBP15,000 in the
total prize fund with WorldPool once again continuing their support
of Al Shaqab Lockinge Day. Further Group races to receive prize
money increases include the Group 3 Geoffrey Freer Stakes, won last
year by Arrest in what was Frankie Dettori's last winner at the
track, will have GBP90,000 on offer in 2024. The feature race of
the BetVictor Hungerford Day card, the Group 2 Hungerford Stakes
has a total prize fund of GBP125,000. The Dubai Duty Free
International Weekend sees both the Group 3 Dubai International
World Trophy and Group 2 Mill Reef Stakes receive prize money
boosts of GBP15,000 and GBP10,000 respectively, to GBP85,000 and
GBP100,000. The prize money increases are distributed across the
whole schedule with all Class 5 handicaps in Flat core fixtures
guaranteed to be run for a minimum of GBP11,000, up from GBP8,650
in 2023.
Julian Thick, Chief Executive of Newbury Racecourse, said: "We
have today announced further prize money increases for the 2024
season with additional investment across both our Premier and Core
fixtures taking Newbury to a record GBP7M in total prizemoney for
the year. We have been able to make two successive years of
significant advances in our prizemoney mainly due to our new media
arrangements with Sky Sports Racing and our board are pleased to be
able to do so at a time when the industry really needs such an
investment. It is well known there are significant headwinds facing
racecourses and further prizemoney increases in years to come will
be very much dependant on Newbury being able to navigate these and
create increased commercial returns through other trading
activities such as growing attendances, that can then be shared
with our industry partners. Once again, my thanks must go to all
our sponsors for their continued support and we very much look
forward to the season ahead and welcoming horses, connections and
racegoers back to Newbury to enjoy top class racing action."
Charlie Liverton, Chief Executive of the Racehorse Owners
Association, said: "It is welcome news to see Newbury Racecourse
increasing its prize money by 13% in 2024. Equally important is
that the investment is being made across all of the 31 fixtures,
not just the 11 Premier fixtures, as it is critical to ensure
owners of horses running at Newbury across all classes are rewarded
with increased returns. The staging of Class 5 races on the Flat
for a minimum of GBP11,000, an increase of over 25%, is
particularly welcome. With a well-regarded owners raceday
experience and increased prize money, I am sure owners will look
for opportunities for their horses at Newbury across the year."
Jamie Snowden, trainer of 2023 Coral Gold Cup winner
Datsalrightgino, commented: "As a local trainer to Newbury, it is a
course we look to support as much as possible not only due to
proximity but given it is one of the fairest tracks around. We have
enjoyed many memorable days there, most notably winning the Coral
Gold Cup which was a fantastic day for all involved. This increase
in prize money is very welcome news and necessary for our loyal
owners who put so much into the sport in what are challenging
economic times for many. It will only boost the brilliant raceday
experience already on offer for owners at Newbury."
Eve Johnson-Houghton, leading local flat trainer, said: "In our
role we have to look after our owners without whom trainers
wouldn't be able to continue. Prize money is central to this and
the news that Newbury is increasing their prize money offering by
nearly GBP1 million is positive news. There are some big increases
across the flat season and it is very pleasing that Newbury have
made a further commitment to increasing prize money following last
year's increases. As our local track we enjoy having runners there
and this will only help to further our support. Further to this, we
welcome the commitment from Newbury to provide financial data to
the Thoroughbred Group as part of the drive to greater
transparency."
ENDS
For further information, please contact:
Lucy Swiers, JSC Comms
Mobile: 07517 477 502
Email: lucy@jsccomms.co.uk
Notes to Editors
Newbury Racecourse, located in Berkshire, is one of the UK's
premier racecourses staging 31 racedays a year, including both flat
and jump meetings. It is the home of the Coral Gold Cup and Al
Shaqab Lockinge Stakes. The racecourse - which can accommodate a
wide range of conferences, weddings and events - also boasts an
on-site hotel, The Lodge, as well as the Rocking Horse Nursery.
Newbury Racecourse has its own on-site rail station and offers free
parking, so it couldn't be easier to get to.
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END
NRAEADFSFFLLEFA
(END) Dow Jones Newswires
January 15, 2024 08:16 ET (13:16 GMT)
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