The Jockey Club has announced its racecourse arm will offer more than £40million in prize-money in 2013 - an increase of more than £5m on this year.
The group are scheduled to stage 361 fixtures next year and of the £40m in prize-money, a record £18.6m will be contributed directly from Jockey Club Racecourses.
The Jockey Club is responsible for a total of 15 British racecourses including Aintree, Cheltenham, Epsom and both the Rowley Mile and the July Course at Newmarket.
Jockey Club group chief executive Simon Bazalgette said: "The Jockey Club exists solely for the good of racing and cares about the long-term health of our sport.
"Today's prize-money announcement is another demonstration of how everything we make goes back into British racing and the importance of providing a fair return to horsemen.
"The further increase in our own contribution to a record £18.6m, coupled with extra Levy funding next year, means a £5m injection into prize-money on our courses in areas we believe will benefit horsemen the most, to a total in excess of £40m.
"Just to be clear, once again we are putting in more than 60% of our available profits to prize-money and this contribution exceeds the amount we receive through media race fees. I'm delighted that in the process of offering more than £40m in prize-money next year, we have also been able to upgrade our race programme.
"Quality racing is vital to the future health of our sport and in 2013 we are focused on achieving this not only at large courses on weekends, but also at our small courses and in midweek."
Richard Wayman, chief executive of the Racehorse Owners Association, said: "The £5m increase in total prize-money is very welcome news for horsemen, and The Jockey Club deserves particular credit for increasing its own contribution by nearly £2m. We must now work closely together to secure formalised agreements that would benefit both horsemen and racecourses."
Stephen Atkin, chief executive of the Racecourse Association (RCA), said: "JCR is to be commended both for the significant increase in its executive contribution to prize-money next year and for the clear explanation of its policy. The increase will give a further boost to prize-money at British racecourses, which is set to exceed £110m in 2013, more than 10% up on 2012."
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