CHELTENHAM Racecourse boss Edward Gillespie says the credit crunch has forced cuts in prizemoney of up to 25 per cent at the home of jump racing. He described the impact of the downturn in the economy, which has affected races at this weekend’s Boylesports International, as a “reality check”. But Gillespie, the managing director of Prestbury Park, said he was determined the level of prizemoney at the Festival – the crown jewels of the sport – would be unaffected.
Cheltenham The Home of Jumps Racing
“It’s a reality check,” he said. “Our prizemoney is being scrutinised in terms of the affordability from the point of view of running the entire business. We make no little secret of the fact that from now to the end of the season there will be reductions while we are protecting most, if not all of our Festival races.”
He added: “The most important prizemoney levels here are the ones at the Festival. We are protecting those and they are our priority.”
Prizemoney for Saturday’s big hurdle race – the boylesports.com International Hurdle – has dropped by 25 per cent from £200,000 last year to £150,000. The race could not go ahead at Cheltenham last year because the course was waterlogged, so it took place at Ascot the following Saturday.
Comments