The Jockey Club has frozen prize money for 2025 across the board but, at the same time, given a stark warning about the uncertain future ahead.

When announcing the prize money freeze, the Jockey Club have said that adverse trading at its 15 racecourses could lead to a further review of the prize money and changes part way through the year if they are needed.

The prize money for 2025 will stand at £58.1 million, which is very slightly down from the £58.6 million figure for 2024. However, that’s down to a reduction in 15 race days. In terms of the actual money per race day figure, that’s slightly up, from £175,000 to £182,000.

The Jockey Club have stated that prize money has been given priority during the funding review for the new year but that the current economic climate and recent budget from the Labour government have forced them to think about a review during the coming year.

With the Jockey Club controlling 15 racecourses, including the likes of Cheltenham, Aintree, Newmarket and more, what they decide to do has a far bigger impact than any other body in racing in terms of prize money.

There has been no official confirmation about what individual races or race meetings will be given as prize money for next year, but given the freeze, it’s likely that everything will broadly remain the same.

Prize Money at the Lower Ends of Racing to Struggle Again

It’s fair to say there are many problems in racing right now, and all are connected to finances.

The costs of employing people are about to go up, which will hit the industry both with people working in racing and people working at racecourses. Then, you have the overall costs of buying and training a racehorse, which continue to rise.

The way for those within the industry to make this work is to earn more prize money. But unless trainers find a way to win more races, that won’t happen, given this freeze on prize money from the leading body.

And it’s only going to get worse at the bottom. It’s highly unlikely that any money will be diverted from the top to the bottom of racing in 2025. The big races are all going to receive a very similar amount as they did this year.

Which then leaves the same small pot to go around for everyone else at the bottom end of the scale. Until there is investment in grassroots, and prize money rises in the smaller, lower quality races, then new trainers, owners and breeders are all going to struggle to make their own money and cover any staff costs they have.

2025 Could Lead to Key Decisions in Racing

You get the feeling that 2025 is going to be a crucial year for racing in general, not just the Jockey Club.

I think they, amongst others, are going to have big decisions to make.

Cuts will be coming, I think that’s pretty clear, but then racing also needs to work out just how much they want to stand up to the Gambling Commission and Government around the affordability checks, which are on the way.

The future of the sport is on the table for me. Of course, I don’t think racing ceases to exist, but I do think how the sport looks could be very different, depending on the decisions made.

Everything must be done to protect money coming into the sport via media, gambling, ticket sales and other streams. But it also must be looked after and distributed correctly.

Prize money remains the same, but only for now, and only with the Jockey Club so far committing to that. If cuts come next year, and eventually I think they will, then it must be taken off the top and not affect the bottom, which is already struggling.