Newbury Racecourse will offer a 16% increase in its prize-money for Flat and jump races throughout 2023 to £6.06 million, the racecourse announced on Tuesday.
With a further increase planned for next year, the upturn in funding is largely through a record executive contribution by the racecourse of £3.1 million, which has increased by £650,000 from 2022.
The G1 Al Shaqab Lockinge S. and The BetVictor London Gold Cup Handicap S. will both feature in the World Pool programme of races this year, representing the first time that Newbury has been involved in this lucrative venture. The latter will be run for £100,000 and the Lockinge meeting will increase by £95,000 and feature a new £75,000 handicap over a mile.
Furthermore, six novice and maiden races between April and September will carry a total prize fund between £30,000 and £50,000. Midweek National Hunt cards will receive an average of £20,000 in additional funding and all Grade 2 races will be worth £10,000 more than the minimum value.
“We are pleased to be able to announce a 16% increase in prize-money with a record executive contribution for the forthcoming 2023 season,” said Julian Thick, Chief Executive of Newbury Racecourse. “The financial challenges for horseracing and its participants are considerable, but we remain confident in the future of the racecourse and are happy to make this valuable investment at a time when racing needs it most. As an independent PLC we must run the racecourse on a sustainable basis and this year sees the largest amount the racecourse has ever invested in prize-money, with £3.1 million in executive contribution which represents a 26% uplift. We are extremely grateful to our sponsors and partners who continue to support Newbury and have helped us boost the prize-money on offer.”