Royal Ascot prize money cut by more than half to £3.68m

Royal Ascot offered £7.3m in prize money in 2019

Prize money at this month’s Royal Ascot meeting has been cut by more than half.

A total of £3.7m will be on offer when the meeting is held behind closed doors from 16 to 20 June because of the coronavirus pandemic.

Organisers said in December 2019external-link that they hoped to offer more than £8m.

The 55% reduction means all races will be run for a minimum of £35,000, rather than £95,000, while the eight Group One contests at the expanded meeting will each be worth £250,000.

Ascot had been planning to run its first two £1m races at the meeting, with the Prince of Wales’ Stakes and the Diamond Jubilee Stakes increased from £750,000 and £600,000 respectively.

Chief executive Guy Henderson said: “This year was set to be a landmark year for Royal Ascot prize money. However, these unprecedented times have intervened.

“Some 70% of our annual income comes from public admissions, including hospitality, and producing in excess of £3.5m in prize money in the current circumstances would not have been possible without the support and commitment of our wonderful partners.”

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