Racing Hong Kong has upped the ante and given a terrific boost to its prize purse — despite the odds of coronavirus Covid-19 and the challenges of the new normal.
They will be offering a total of over HK$1.4 billion in prize money, the equivalent of £143.5m, for the upcoming 2020/21 season – a new record for prize money in the sector.
Total prize money for the 2020/21 season’s 88 meetings at Sha Tin and Happy Valley is up by almost five per cent.
It reinforces the message that Hong Kong remains determined to attract the world’s top facing stables to compete in the territory’s elite races.
“At a time when prize money levels are being cut worldwide, the prize money increases announced today by the Hong Kong Jockey Club are very welcome news, and a testament to the strength, resilience and buoyancy of Hong Kong racing, even in these very difficult times,” announced Chew Fook Aun, President of the Hong Kong Racehorse Owners’ Association.
Andrew Harding, Executive Director of Racing at the Hong Kong Jockey Club, added:
“Despite the issues associated with the Covid-19 pandemic and the uncertainty in world economies, we will continue our successful strategy of recent years to increase purse levels as necessary in order to reward and encourage our owners and to ensure Hong Kong’s elite races are attractive to overseas competitors.
“This approach has been a core element in Hong Kong being able to maintain its position as a world leader in providing quality horseracing and has enabled us to achieve between 20 and 26 horses in the World’s Best Racehorse Rankings for each of the past seven years.
“For next season, the Club has increased prize money to a record overall sum, including a significant injection across all Class 1 to Class 5 handicap races and Group 2 and Group 3 contests. We believe this will help to enhance competition and assist our owners in their attempts to purchase and import the best possible horses in a difficult economic climate.”