Newbury says switch to Sky has enabled it to increase prize-money to £7 million this year

There was more encouraging news about prize-money on Monday when Newbury racecourse committed to dishing out £7 million this year, which a statement said would be a 13 per cent increase on 2023 levels. Credit for the improved offering is being given to the track's move from Racing TV to Sky Sports Racing, taking effect this month after being announced in 2021.

Both the Denman Chase and the Game Spirit Chase, due to be staged at the Berkshire track next month, will be worth £85,000 this time, up by £15,000. The BetVictor Greatwood Gold Cup in March will feature £100,000 in prize-money, up from £60,000. 

A new total of £400,000 will be up for grabs in May when Newbury stages the Al Shaqab Lockinge Stakes, a Group 1 over a mile won by Modern Games last spring. Course officials were keen to stress that increases will be in effect at all of its 31 fixtures, rather than being confined to its 11 Premier racedays. 

"We have been able to make two successive years of significant advances in our prize-money, mainly due to our new media arrangements with Sky Sports Racing," said the track's outgoing chief executive, Julian Thick. "Our board is 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 prize-money increases in years to come will be very much dependent 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."

Jamie Snowden won last month's Coral Gold Cup with Datsalrightgino and is among trainers who have praised the increased prize-moneyCredit: Edward Whitaker

The news comes a week after Jockey Club Racecourses pledged to dole out £60m at its tracks this year, when it also committed to increased transparency over its business performance in an effort to address the concerns of horsemen. Newbury officials say that it already puts a lot of its financial information into the public domain and a meeting has been arranged with the Thoroughbred Group in the coming weeks to see if any additional clarity can be provided.

Local trainers responded well to Newbury's announcement. Jamie Snowden, who won the Coral Gold Cup at the track with Datsalrightgino last month, said: "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, whose Blewbury stable is less than 20 miles from the track, said: "There are some big increases across the Flat season and it is very pleasing that Newbury has 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."

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