Newbury Racecourse - Update on prize money

Reach non-regulatory announcement

7 February 2023

NEWBURY RACECOURSE PLC

(the "Company")

Update on prize money

The Company has today made an announcement to the racing industry in relation to its prize money allocation for the current year and beyond. 

The full text of this announcement is set out below.

For further information please contact:

Newbury Racecourse plc                                                                              Tel: 01635 40015

Julian Thick, Chief Executive

Allenby Capital Limited (AQSE Corporate adviser)                           Tel: 0203 328 5656

Nick Naylor / George Payne (Corporate Finance)                             

Hudson Sandler                                                                                               Tel: 0207 796 4133

Charlie Jack

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Text of the Company's announcement to the racing industry today

"NEWBURY RACECOURSE ANNOUNCE 16% INCREASE IN PRIZE MONEY ACROSS 2023 SEASON

Newbury Racecourse has announced a 16% increase in prize money to be distributed throughout the 2023 Flat and Jumps season, with total prize money on offer amounting to a record £6.06 million. 

The injection in prize money has been largely funded by a record executive contribution of £3.1 million, an increase of £650,000 from 2022 which represents a 26% year-on-year rise, with further increases planned in 2024. The additional investment signifies Newbury's ongoing commitment to maintaining its position as one of the leading racecourses in the country.

For the first time in 2023, Newbury Racecourse will have two races featured in the World Pool fixture list: The Al Shaqab Lockinge Stakes and The BetVictor London Gold Cup Handicap Stakes. Subsequently, the 2023 London Gold Cup will be worth £100,000 and the Al Shaqab Lockinge Day race card will feature a new £75,000 1-mile Handicap.

The additional prize money on offer will be spread across the Flat and Jumps fixture list. The

Flat season will see the introduction of six high value novice and maiden races scheduled between April and September with total prize money between £30,000 and £50,000. The total race value of Al Shaqab Lockinge Day will increase by £95,000, with prize money boosts for all Group 3, Listed, Class 3 Handicaps and Class 4 Novice and Maiden races.

Throughout the Jumps schedule, all midweek cards will receive, on average, an additional

£20,000 towards the total prize fund and all Grade 2 races will be worth £10,000 more than

the minimum value. Challow Hurdle Day will see its total prize fund increase by £39,000 to

£188,000. Newbury will also host the Goffs UK Spring Sale Bumper, with prize money on offer of £100,000.

Julian Thick, Chief Executive of Newbury Racecourse, said: "We are pleased to be able to announce a 16% increase in prize money with a record executive contribution for the forthcoming 2023 season. The financial challenges for horseracing and its participants are considerable, but we remain confident in the future of the racecourse and are happy to make this valuable investment at a time when racing needs it most. As an independent PLC we must run the racecourse on a sustainable basis and this year sees the largest amount the racecourse has ever invested in prize money, with £3.1 million in executive contribution which represents a 26% uplift. We are extremely grateful to our sponsors and partners who continue to support Newbury and have helped us boost the prize money on offer."

Andrew Balding, multiple Group 1 winning trainer said: "Newbury is our local track and we've enjoyed many great successes here over the years as a family. My father, Ian, won the- Lockinge on multiple occasions; it's a fantastic place to win big races as a local trainer. Prize money is critical for trainers to retain their owners and keep their horses in training. The steps taken by Newbury to prioritise an increase in prize money will go a long way in maintaining the competitive and compelling racing on offer at this fantastic racecourse."

Nicky Henderson, six-time National Hunt Champion Trainer, said: "This is a positive step forwards from Newbury, and one which will be welcomed by owners and trainers alike. Being our local track to Seven Barrows, we like to run horses at Newbury and the measures taken this year by the racecourse will ensure that our loyal owners, who invest so much in the sport, are rewarded for their success."

ENDS

For further information, please contact:

Lucy Swiers, JSC Comms

Mobile: 07517 477 502
Email: lucy@jsccomms.co.uk

Notes to Editors

Newbury Racecourse

Newbury Racecourse, located in Berkshire, is one of the UK's premier racecourses staging 31 racedays a year, including both Flat and Jump meetings.  It is the home of the Coral Gold Cup and Al Shaqab Lockinge Stakes. The racecourse is also a conference and events venue and with its 36-bedroom onsite hotel, The Lodge, it is also an attractive venue for weddings."