Jockey Club freezes prize-money for 2025 amid uncertain economic landscape

The Jockey Club has announced a freeze on prize-money for 2025 and warned that adverse trading performance at its 15 tracks could lead to a further review.

The figure will be set at £58.1 million, £30.6m of which will come from executive contribution. While prize-money is marginally down on this year's £58.6m due to 15 fewer racedays, the average pot per fixture will improve from £175,000 to £182,000.

Jockey Club chief executive Nevin Truesdale said: “Prize-money is our single biggest investment each year and we have worked hard to sustain these levels in 2025. 

"There is no doubt that the ongoing economic environment continues to bring uncertainty to our income streams and the government’s October budget will have a significant and material impact on us too. 

"However, we have prioritised prize-money as part of our budgeting process for next year, while also recognising that in such a turbulent economic climate it is vital to review our financial performance and investments throughout 2025." 

The Jockey Club has faced strong economic headwinds in recent years, having reported a 37 per cent drop in profits in 2023 before cutting prize-money this year by £1.5m due to a poor first quarter. The reduction came three months after an initial plan to break the £60m mark and followed on from poor attendance figures at the Cheltenham Festival. 

In September, a number of changes were announced for the festival in order to improve competitiveness and customer experience, including the introduction of more handicaps and package deals for racegoers. 

The Jockey Club has also faced the continued impact of affordability checks, which has led to a rapid decline in betting turnover, and this year it sold one of its Premier racedays at Newmarket to York. 

The Thoroughbred Group representing owners, breeders, trainers, jockeys and stable staff, said it was disappointed by the freeze in prize-money, having submitted its own proposals in October to improve prize-money through new commercial partnerships between participants and racecourses. 

The group’s racing and analytics executive Jack Connor said: “While Thoroughbred Group members understand, and are not themselves immune from, the financial challenges that have led to this announcement, it is very disappointing to see prize-money reductions in real terms at a time when our members' costs are increasing.  

"Discussions with the Jockey Club on commercial partnerships have been constructive to date, with more meetings scheduled in the coming weeks, and we see these as critical to the future health and sustainability of the sport."

Prize-money for individual races, including major meetings under the Jockey Club banner at Cheltenham, Aintree and Newmarket, has yet to be confirmed for next year.

Read more: 

'They want to undermine betting as an activity' - Jockey Club chief Nevin Truesdale hits out at Gambling Commission 

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