Horse Racing

Horse racing-Royal Ascot more than halves prize money due to pandemic

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ByReuters
04/06/2020 at 18:34 | Updated 04/06/2020 at 18:36

LONDON, June 4 (Reuters) - The prize money for this month's Royal Ascot, which will be run without spectators from June 16-20, has been more than halved due to the COVID-19 pandemic.

Organisers had said in December that more than eight million pounds ($10.08 million) would be offered with the meeting hosting million pound races for the first time.

On Thursday they announced amended prize money of 3.68 million pounds.

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Ascot Racecourse chief executive Guy Henderson said in a statement that 2020 had been set to be a landmark year before the "unprecedented times".

"Some 70% of our annual income comes from public admissions, including hospitality," he said.

The eight Group One races will each be run for 250,000 pounds. ($1 = 0.7935 pounds) (Reporting by Alan Baldwin, editing by Pritha Sarkar)

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