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British Horse Racing Authority's initiative to program over 60 new high-value development races
Juddmonte and Darley will co-sponsor the British Horse Racing Authority's initiative to programme over 60 new, high-value developmental races this year, with additional contributions coming from host racecourses.
This is a significant and important step by the racing industry to encourage young horses to race in Britain.
Juddmonte will sponsor 20 two-year-old restricted maiden and novice races with prize money of £30,000 each. A total of 21 £30,000 two-year-old open maiden and novice races will be run, backed by the BHA Development Fund, and 22 £30,000-50,000 three-year-old and up open maiden and novice races supported by Darley and the BHA Development Fund.
International comparisons strongly suggest that in order to bolster effectively the breeding industry and retain quality young horses within the British racing system, emphasis needs to be placed on developmental races, both maidens and novices.
In comparison with other major breeding and racing jurisdictions, British racing puts a low proportion of its prize money into developmental races. The chart below shows the extent to which, in 2021, average prize money in development races was significantly below that of other jurisdictions.
Given the set-up of the British handicap system, over half a horse's starts in its first year of racing are likely to be in developmental races. The prize money they offer is, therefore, an efficient route for the recoupment of costs, and puts money back into the pockets of owners at an early stage in the horse's career, encouraging them to invest in unraced horses and incentivises them to continue their ownership. Well-funded developmental races also provide breeders with a viable option of racing their homebred's rather than selling them on.
Developmental races are run off level weights, so they are also a fair barometer of ability, identifying the horses with the greatest talent, rewarding their connections, and assisting in keeping them within the British racing and breeding system.
Douglas Erskine Crum, CEO Juddmonte, said: "We are delighted to be supporting this well-targeted BHA initiative to enhance the competitiveness of the British racing and breeding industries. It is an effective kick-start of a long-term plan to enhance prize money substantially for developmental races, with all the benefits that will follow for breeders and owners. It is the right place to start for the UK racing industry to become more competitive with other major breeding and racing jurisdictions around the world and to support our own breeders and owners."
Sam Bullard, Director of Stallions for Darley, said: "For many years Darley has worked to support breeders through sponsorship and this new development fund initiative is doing just that, as well as setting a new improved prize money level for maiden races.
"This, combined with our contribution to the EBF, demonstrates how we can work together for the benefit of racing and are delighted to be involved".
A full list of the races can be viewed here.