Royal Ascot to offer record prize money in 2018

Story highlights

  • Royal Ascot prize money raised to nearly $10M for 2018
  • Ascot Racecourse is one of world's premier horse racing venues

(CNN)Famed for its historic Royal connections and as a pillar of British sporting life, Ascot Racecourse will be offering more prize money than ever before in 2018.

This year will see a record $18.5 million (£13,452,000 million) awarded in prize money -- an increase of 10% from 2017 -- over 25 days of racing (excluding the industry-owned QIPCO British Champions Day) at the famous racecourse situated a hour's drive west of London.
Royal Ascot, the jewel in the crown of the British racing calendar which runs from June 19-23 this year, will be worth more than $9.6M (£7M) with a minimum of $124,500 (£90,000) on offer for every race.
    Hugh Grosvenor, 2nd Duke of Westminster (1879 - 1953) at Chester Races with French fashion designer Coco Chanel (1883 - 1971), 1st May 1924. (Photo by Phillips/Topical Press Agency/Hulton Archive/Getty Images)
    Hugh Grosvenor, 2nd Duke of Westminster (1879 - 1953) at Chester Races with French fashion designer Coco Chanel (1883 - 1971), 1st May 1924. (Photo by Phillips/Topical Press Agency/Hulton Archive/Getty Images)

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    "In order to continue to attract the best horses to run at Ascot, and with the Royal Meeting a shop window for international investment in British racing, it is important that we offer as competitive prize money as we can, particularly at the high end," Guy Henderson, Chief Executive at Ascot Racecourse, said in a statement.
    "It is therefore pleasing to be able to announce, through balanced progress, that Ascot is able to offer record prize money alongside our other investments and continuing to reduce our Grandstand debt on schedule," Henderson added, referring to a £200 million redevelopment which was completed in 2006.
    Prize money will also increase for the prestigious King George VI & Queen Elizabeth Stakes. The Group 1 race will be worth a record £1.25M ($1.7M) up £100,000 from 2017.
    Ascot will host a total of 18 flat and eight jump meets this year with the season getting underway on January 20.