Juddmonte to co-sponsor new high-value British development races
Juddmonte welcomes the British Horse Racing Authority’s (“BHA”) initiative to programme over 60 new, high-value developmental races [Prize money boost to development races in 2023 - The British Horseracing Authority]. This is a significant and important step by the racing industry to encourage young horses to race in Britain and it is an initiative which Juddmonte is delighted to support, together with Darley, the BHA and hosting racecourses.
Juddmonte will sponsor 20 two-year-old restricted maiden and novice races with prize money of £30,000 each.
International comparisons strongly suggest that in order to bolster effectively the breeding industry and retain quality young horses within the British racing system, emphasis needs to be placed on developmental races, both maidens and novices.
In comparison with other major breeding and racing jurisdictions, British racing puts a low proportion of its prize money into developmental races. The chart below shows the extent to which, in 2021, average prize money in development races was significantly below that of other jurisdictions.
Given the set-up of the British handicap system, over half a horse’s starts in its first year of racing are likely to be in developmental races. The prize money they offer is, therefore, an efficient route for the recoupment of costs, and puts money back into the pockets of owners at an early stage in the horse’s career, encouraging them to invest in unraced horses and incentivises them to continue their ownership. Well-funded developmental races also provide breeders with a viable option of racing their homebreds rather than selling them on.
Developmental races are run off level weights, so they are also a fair barometer of ability, identifying the horses with the greatest talent, rewarding their connections, and assisting in keeping them within the British racing and breeding system. Juddmonte is pleased to be focusing its sponsorship on those races with restricted conditions, which can be used to funnel prize money to the smaller owners and breeders who need it most.
Douglas Erskine Crum, CEO Juddmonte, said:
“We are delighted to be supporting this well-targeted BHA initiative to enhance the competitiveness of the British racing and breeding industries. It is an effective kick-start of a long-term plan to enhance prize money substantially for developmental races, with all the benefits that will follow for breeders and owners. It is the right place to start for the UK racing industry to become more competitive with other major breeding and racing jurisdictions around the world and to support our own breeders and owners.”
Juddmonte’s Other Sponsorships
Juddmonte is a major contributor to the European Breeders’ Fund.
In Europe, the sponsorship portfolio is headed by the £1 million Gr.1 Juddmonte International at York, which Juddmonte has sponsored for over 30 years, and in the USA by the Gr.1 Spinster Stakes at Keeneland, sponsored since 2005. Juddmonte also sponsors the Gr.1 Juddmonte Irish Oaks held in July at The Curragh in Ireland and Juddmonte Day at Newmarket in September with the Gr.1 Juddmonte Middle Park Stakes, the Gr.1 Juddmonte Cheveley Park Stakes and the Gr.2 Juddmonte Royal Lodge Stakes.
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