Royal Ascot prize money breaks £5 million barrier

Dubai: Prize money at Royal Ascot has soared to a record £5 million this year, in a measured attempt to boost the world’s most famous race meeting’s already high profile.

As a result, Britain’s premier five-day racing festival will see a whopping £500,000 increase from 2012, a 11 per cent rise overall.

The total prize money on offer at Ascot racecourse throughout 2013 is now just over $20 million.

Prize purses for two of the meeting’s most prestigious races,the St James’s Palace Stakes (G1)and Coronation Stakes (G1), have been raised by £100,000 to £350,000, to bring them in line with the Queen Anne Stakes (G1),King’s Stand Stakes (G1) and Gold Cup(G1).

While the Group 3 Queen’s Vase will be run in memory of the late Sir Henry Cecil, the Group 2 Windsor Forest Stakes will now be known as the Duke of Cambridge Stakes to commemorate the new title given to Prince William. That race will also see a £25,000 rise in prize money to £125,000.

Johnny Weatherby, Her Majesty’s Representative at Ascot, said in a press release: “We are delighted to be able to announce these prize money increases today and a £5 million Royal Meeting is a real milestone for the country’s flagship flat race meeting.

“We are also naturally thrilled that Her Majesty The Queen has graciously consented to renaming the Windsor Forest in honour of her grandson, The Duke of Cambridge.”

Charles Barnett, Chief Executive at Ascot, added: “We have worked hard to make the international races globally competitive in recent years and our focus this year has been to enhance the top three-year-old races, the feature handicaps, the two-year-old championships and the programme generally.

“It is very important to us to have a significant minimum amount on offer, and we have set that at £60,000. We have seen some remarkable racing at Ascot in recent years and, whilst the importance of winning at Royal Ascot both in terms of prestige and in value to the bloodstock industry can’t be denied, increasing prize money is equally crucial to attracting the best horses to run in a highly competitive market.

“The top four horses in the world last year on official ratings — Frankel, Cirrus Des Aigles, Black Caviar and Excelebration — all ran at Ascot.”

Highlights:

• Increases of £100,000 to the St James’s Palace Stakes and Coronation Stakes (to £350,000).

• Increases of £25,000 to the Royal Hunt Cup and Wokingham Stakes.

• The Britannia Stakes goes up £20,000 to £120,000.

• Increases of £25,000 to three Group Two races - the Duke of Cambridge Stakes, the Ribblesdale Stakes and the King Edward VII Stakes.

• The Coventry Stakes is up £35,000 and the Queen Mary up £25,000.

• The least any race will be worth at this year’s Royal Meeting will be £60,000 (£55,000 in 2012).