racing_news/

British Racing Sets A New Prize Money Record In 2006
14/01/07

Over £104m was paid out in Prize Money in 2006, marking an all-time record and a 4.8% increase on 2005’s figure of £99.3m. It is the second time that Prize Money has broken through the £100m barrier, with the previous record being £101.3m in 2004, and British Prize Money has now increased by 24% over the last five years.

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There were increased contributions to Prize Money in 2006 from the Horserace Betting Levy Board, Racecourses – in the form of Executive and Sponsors’ contributions – and Owners.

BHB’s Development Fund, created by money raised through the sport’s first fixture bidding process in June 2005 and used to support races that serve a particular race planning role, amounted to £712,000. £707,554 was also paid out by the Levy Board in the final year of the Owners’ Premium Scheme.

Further records were also set in the following areas:

• Horses in training (14,470 compared to 14,388 in 2005, a rise of 0.6%)
  
  
• Fixtures staged (1,332 compared to 1,300, a rise of 2.5%)
  
  
• Races run (8,934 compared to 8,588, a rise of 4%)
  
  
• Individual runners (19,178 compared to 18,678, an increase of 2.7%)

Strong figures were also posted in other areas:

• Owners with a horse in training (9,327 compared to 9,403, a decrease of 0.8%)
  
  
• Runners (94,610 compared to 94,659, a decrease of 0.1%)

BHB Acting Chief Executive Chris Brand said: “A new Prize Money record is something that for the whole of British Racing to take credit for and be proud of. We are continuing to see the benefits of a strategically expanded and reformed Fixture List, but special mention should to go to those racecourses who made increased Executive and Sponsorship contributions in 2006.

“Entering 2007, we will face a considerable challenge to reach the £100m barrier given the recent drop in levy yield, and it is more important than ever that racecourses take an enlightened approach in this area.

“Overall though, and as reflected in other key indicators, the sport continues in buoyant health. It is vital that we do not rest on our laurels and the sport must continue to strive to attract new customers and investors.”