Formalised agreements defining minimum levels of prize money investment from racecourses were last established in 2013, and were signed by all but a handful of venues. These agreements saw racecourses commit to investing 33% of their media rights income as Executive Contribution to prize money, which was then recognised in selected areas of fixture policy. Premier Prize Money Agreements offered a number of enhanced benefits to courses who invested a minimum of 40% of their media rights income back into prize money. The impact of the pandemic on racecourse revenue streams meant that these agreements fell away in 2020.
The Thoroughbred Group believes that the re-establishment of agreements, via Commercial Partnerships, is in the best interests of the sport, and represents the only way of guaranteeing a genuinely collaborative approach to the growth of British horseracing. Without such agreements, there remains a misalignment of incentives and lack of trust between the sport’s main stakeholders.