Hong Kong Increases Purses for Group One Races

Hong Kong will stage the world's richest turf group 1 races over six furlongs, seven furlongs, one mile, and 10 furlongs after announcing increased prize money for 2021-22.

It has boosted purses to reward home owners and to make its big races attractive to overseas competitors.

Hong Kong's program next season will be worth a record total of HK$1.46 billion (£136.2 million) and the four feature events on Longines Hong Kong International race day will offer a combined new high of HK$100 million (£9.3 million).

The Hong Kong Cup (HK$30 million—£2.8 million) is now the richest turf group 1 over 10 furlongs. The Hong Kong Mile and Hong Kong Sprint (six furlongs) already top their categories, as does the Queen's Silver Jubilee Cup (seven furlongs).

Prize money for group 2 races has been increased by HK$250,000 (£23,000) and that for group 3s by HK$200,000 (£19,000), while the value of contests in Classes 1 to 5 will also be up by between 4% and 9%.

Explaining its keenness to upgrade race values, Hong Kong Jockey Club executive director Andrew Harding said: "Key to Hong Kong's world-class racing is the Club's significant investment in prize-money.

"Despite the issues associated with the COVID-19 pandemic and the uncertainty in world economies, we are committed to continuing our strategy of strong increases in purse levels to reward and encourage our owners and to ensure Hong Kong's elite races are attractive to overseas competitors.

"This approach has been a core element in Hong Kong being able to maintain its position as a world leader in providing quality horseracing and has enabled us to achieve between 17 and 26 horses in the Longines World's Best Racehorse Rankings for each of the past eight years.

"For next season, the Club has increased prize-money to a record overall sum. We believe this will help to enhance competition and assist our owners in their attempts to purchase and import the best possible horses in a difficult economic climate."

Welcoming the news, Hong Kong Racehorse Owners Association president Matthew Lam said: "It is great to see the further increase of prize money in nearly all races, which offer good incentives to Hong Kong owners to continue to import high class horses and support the world class racing standard in Hong Kong."