25 March 2013 – Racing Post
THE Arena Racing Company has announced an 18.5 per cent increase in prize-money across the group’s 15 racecourses for 2013. A total of £24.3 million will be on offer with the £3.8m rise in prize-money made up of an additional £1m worth of contribution from Arc combined with a £2.8m increase in the Levy Board income and associated funds. The group’s executive contribution now totals £9.6m, which amounts to a 166% increase over the last three years, £6m more than that which was paid in 2010. Arc said that a number of races had been upgraded to re-establish better quality cards with the average prize-money per fixture rising 14.0% to £42,000. In addition the group’s flagship race, the Ladbrokes St Leger, will receive a prize-money boost of nine per cent, taking prize-money for the contest to a record £600,000. Arc managing director Tony Kelly said: “We are delighted to be able to make this increase in contribution to our prize-money fund for 2013. The increase we have received in Levy Board support is in itself a reflection of the investment the group has put into prize-money between 2010 and 2012 in response to a declining levy yield.” “We do not and cannot compete with the quantum of prize-money on offer at other tracks where the heritage races have been staged for centuries. Ignoring those races and comparing our prize-money on a like for like basis where our race programs are similar our position compares very favourably. “As announced last year, following the closures at Folkestone and Hereford the subsequent transfers have resulted in the relocated fixtures receiving a boost to their total prize funds with an additional £200k being made available resulting in an improved race program and increased prize-money. “We are making these improvements to prize-money but they are only one aspect of what we offer the sports participants. We will soon announce further investment throughout the group with plans in place for track improvements, important upgrades in facilities and a new policy for our major customers groups, in particular the owners and trainers.”