8 May 2020
Prize money for races restricted to on-course betting remains the same, whilst a system of a gradual decrease in prize money has been implemented to protect lower-tier races.
In a video conference of France Galop committee members on 29 April, the President outlined the main features of the strategy for a resumption of racing in the current health crisis. Since then, Edouard de Rothschild, supported by directors, has consulted the concerned parties within this committee about this recovery plan and in particular the prize money policy from 11 May, the day of the resumption of racing.
Following these very constructive consultations, the Board of Directors came together and unanimously decided to make several changes to the initial plan.
The measures decided by the Board of Directors are designed to better protect the prize money in lower-tier races thanks to stronger solidarity between racing’s stakeholders and an additional financial commitment on behalf of France Galop.
Revised measures are as follows:
- Prize money for races restricted to on-course betting remains the same.
- In off-course betting races, also known as Premium races, in handicaps (except Quinté-pool races) and claiming races on the flat: Prize money in Parisian races worth €19,000 and less remains the same while an average reduction of 15% applies to races worth more than €20,000 (none of these races will be worth less than €19,000).
- No change in prize money in Premium regional races on the flat worth €15,000 or less while an average reduction of 15% is applied to races worth more than €16,000 (none of these races will be worth less than €15,000)
- Jump racing: a reduction of 10% in handicaps and claiming races, apart from TQQ+ in handicaps
- A reduction of 10% in Premium regional jump races (apart from Listed and TQQ+ races)
- A reduction of 30% in Listed, Group 3 and Group 2 flat and jump races
- A reduction of 30% in Group 1 jump races
- A reduction of 40% in Group 1 flat races
- Entry fees for Listed, Group 3 and Group 2 flat races consequently will be reduced by 30%; Group 1 race entry fees will be reduced by 40%
Prize money in all other races will be reduced by 20%.
Furthermore, the Board of Directors has also voted to continue to support the current allocation of travel allowance.
France Galop will no longer pay out prize money to the first ten horses in handicaps.
These improvements compared to the initial plan are financed by a more important reduction of prize money in Group 1 flat races, the cancellation of breeders’ premiums paid out for performances in jump races abroad and an additional contribution from the France Galop budget.
These emergency measures, put in place to deal promptly with the health crises and its unprecedented consequences, will be implemented as soon as racing resumes on 11 May. They will stay in place for the year 2020 only and will be reassessed during the course of the year when France Galop has a greater understanding of the pace of the recovery of the betting market and its outlook for the final months of the year 2020. At the same time, France Galop and LeTROT will continue to defend the necessity of the specific aid package of €500 per horse per month during the suspension of racing with the Ministry of Agriculture.
Finally, the Board of Directors reiterates that the aim is a return in 2021 to the prize money and premiums initially budgeted for in 2020.