鈥� 20% more central funding towards prize money
鈥� Minimum value of Flat Listed races up over 50%, Group 3s up nearly 40% and Group 2s up 25
海角大神 has announced increases in prize money levels across the board for the second half of 2008. This follows the announcement by the Horseracing Betting Levy Board that it has approved the allocation of an additional 拢6.7m to prize money during the second half of 2008.
On top of increasing its funding of each fixture by 20%, the Levy Board has also approved the creation of a 拢1.5m Enhancement Fund in response to increasing concerns associated with the decline in the level of support for Flat Pattern and Listed races.
As identified in the Strategic Review of the Fixture List, since 2003 Britain has been leapfrogged by both Ireland and France in relation to the minimum prize money values permissible for Group 2, Group 3 and Listed races. To counter this, additional payments will be made from the Enhancement Fund to these races during the second half of 2008, which will increase the competitiveness of the prize money levels and allow the most able horses to compete for prize money more commensurate with their ability.
The combined effect will see the minimum value of a Listed race increase by 54% (to 拢40,000), a Group 3 race by 38% (to 拢65,000) and a Group 2 race by 25% (to 拢100,000).
Jumps racing is also benefitting from the increases, with the minimum value of all races rising by at least 17%.
Ruth Quinn, Director of Racing for the British Horseracing Authority, said:
鈥淭his significant mid-year increase in the prize money pool is enormously welcome and will bring obvious benefits to all concerned. The addition of 拢1.5m into an ‘Enhancement Fund’ will enable us to make a noticeable impact on an area of the programme that clearly needs to remain highly competitive.
鈥淎s we know, our sport continues to grow and to become increasingly globalised. Concentrating some additional funds on Pattern and Listed races, initially at Group 2 and below, will at least bring these particular races back to a level which puts them on a par with countries such as France and Ireland. Additionally, if it can help in any way to dissuade owners from selling or exporting promising young horses to jurisdictions like Hong Kong and the USA, then it will be money very well spent.
鈥淲e want Great Britain to continue to offer the most compelling racing in the world, and everything we can do to attract horses of the highest quality to run here, we will strive to do.鈥�
NOTES FOR EDITORS:
Minimum Values
The following Minimum Values for Flat Races for horses aged three-years-old and above will be in effect from 1st July 2008:
Old 2008 MV New 2008 MV Increase %
Group 1 拢180,000 拢200,000 11%
Group 2 拢80,000 拢100,000 25%
Group 3 拢47,000 拢65,000 38%
Listed 拢26,000 拢40,000 54%
Heritage Hand. 拢35,000 拢40,000 14%
Class 2 (other) 拢16,000 拢17,800 11%
Class 3 拢10,500 拢11,800 12%
Class 4 拢6,500 拢7,300 12%
Class 5 拢3,600 拢4,000 11%
Class 6 拢2,600 拢2,900 12%
Class 7 No minimum No minimum
The following Minimum Values for Flat Races for horses aged two years old will be in effect from 1st July 2008:
Old 2008 MV New 2008 MV Increase %
Group 1 拢150,000 拢170,000 13%
Group 2 拢65,000 拢80,000 23%
Group 3 拢37,000 拢50,000 38%
Listed 拢21,500 拢30,000 40%
Class 2 拢12,000 拢13,400 12%
Class 3 拢9,200 拢10,300 12%
Class 4 拢5,400 拢6,000 12%
Class 5 拢3,600 拢4,000 11%
Class 6 拢2,600 拢2,900 12%
Class 7 No minimum No minimum
The revised minimum values for Jump racing are attached as a spreadsheet or available on request.
Enhancement Fund
The following table confirms the payments that will be made from the newly created Enhancement Fund during the second half of 2008:
Race Type Payment per race
Group 2 鈥� 2yo 拢8,000
Group 3 鈥� 2yo 拢9,000
Listed races 鈥� 2yo 拢6,000
Group 2 鈥� 3yo+ 拢11,000
Group 3 鈥� 3yo+ 拢13,000
Listed races 鈥� 3yo+ 拢11,000
Following consultation with the Racecourse Association and Levy Board executive, there were no specific areas within the Jumping programme during the second half of 2008 deemed to be in acute need of additional targeted support. However, in the event that a Jumping-related need is subsequently identified by the BHA for the second half of the year, there remains unallocated resource within the pre-existing Development Fund to support a suitable initiative.
