Ascot Racecourse has announced that total prize money in 2024 will reach a record £17.5 million, an increase of 3.9% on 2023 values (£16.8 million).
This excludes the industry-owned QIPCO British Champions Day.
Royal Ascot (18th-22nd June) will be worth a record £10 million with no race run for less than £110,000 (up from £100,000) and all Group 1 races worth a minimum of £650,000 (up from £600,000).
This includes increases to the King Charles III Stakes (formerly the King’s Stand Stakes), St James’s Palace Stakes, Gold Cup, Commonwealth Cup and Coronation Stakes, which were all run for £600,000 in 2023.
Nick Smith, Director of Racing and Public Affairs at Ascot Racecourse, said:
“We are pleased to be delivering these prize money increases in 2024 against a backdrop of uncertainty and an unprecedented number of negative headwinds for the industry. The financial impact on all facets of the industry is already being acutely felt.
“It is, however, crucial for Royal Ascot to maintain its position on the global stage at a time when participants at home and abroad have so many alternative lucrative options away from Britain.
“Whist the main increases have been made to the Royal Meeting to enable us to get to £10 million for the first time, we have made increases in other areas of the programme as well.
“These include increases to fit with the new Premier fixture structure, including at the Dubai Duty Free Shergar Cup, where there is a particular focus on maintaining full fields.
“Importantly, no race at Ascot will be run for less than in 2023 including at our Core (non-Premier) fixtures. This is in spite of a reduction in central funding to this element of the programme, which has therefore required further increases in executive contribution.”