The Jockey Club has pledged to provide greater transparency over its business performance as it announced prize-money will top £60million across its 15 racecourses for the first time this year.
A total of 39 ‘transparency meetings’ with 120 industry individuals to explain the Jockey Club’s business performance, prize-money, media rights and investment plans have been held over the last two and a half years
The operator says it will be “extending its commitment to openness” by providing more information to the Thoroughbred Group from 2024 onwards, including figures relating to individual racecourse media rights and other revenues, as well as disclosing other factors which impact decisions on prize-money and other investment plans.
Chief executive Nevin Truesdale said: “It’s really important to us at the Jockey Club to continue to be transparent in sharing details of our business performance with industry participants and stakeholders.
“By agreeing to extend this commitment to provide the Thoroughbred Group with more information around our revenues and costs, we are seeking to drive critical industry collaboration to work together to grow the sport, while also providing a clearer picture of the challenges we face as a racecourse operator.”
Julian Richmond-Watson is chair of the Thoroughbred Group, which represents the industry’s owners, trainers, jockeys, stable staff and breeders.
He said: “The Thoroughbred Group welcomes the Jockey Club’s further commitment to the sharing of financial information, which will now be provided on a more extensive basis than previously received.
“This enhanced visibility will allow us to focus on working together to grow the sport’s revenues and, in turn, increase the prize-money levels upon which our participants rely.”
National Trainers’ Federation chief executive Paul Johnson added: “We believe that this is an enormously important step in being able to agree commercial partnerships with racecourses, something that we see as a foundation stone for working together to improve the sport’s future.”
An overall prize-money total of £60.1m will be offered across the 334 fixtures due to be staged this year by the Jockey Club, whose courses include Aintree, Cheltenham, Epsom and Newmarket.
This reflects a £31.8m executive contribution – the amount the organisation puts in from its own funds – with values for specific races and fixtures confirmed in due course.
The Jockey Club has also budgeted to spend £11.7m over the next 12 months on upgrades to its racecourses, which includes investment into improving racing surfaces, equine facilities and welfare standards.
Truesdale added: “Given the unprecedented financial headwinds the horseracing industry is currently facing, we are pleased to be able to announce today that the Jockey Club’s executive contribution to prize money will be increased to £31.8million in 2024, taking our overall prize-money past the £60million mark for the first time.
“Our mission is to power racing’s future and to ensure that our sport thrives for generations to come. That would not be possible without our participants and all those whose jobs not only help British racing prosper but rely on the industry.
“So, while we continue to take important steps to improve our business efficiency in the face of significant and unprecedented economic challenges, there is also an ongoing focus on investing across our estate and in participants, which includes a commitment to prize-money.
“This has led us to some very difficult decisions in our financial planning for 2024 and we are pleased to be able to deliver an increase in prize-money investment in these very challenging circumstances.
“In addition to prize-money, the Jockey Club will continue to invest in many other areas of the sport, including equine welfare and improving the raceday experience for participants, owners and racegoers.
“We hope that by doing so, we will drive engagement, expand our fan base and increase attendances for the good of the sport.”
iPrint joins forces with SVREL as Billboard Advertising Partner for Mouttet Mile 2024
iPrint is the latest corporate entity to signal its support for 2024 Mouttet Mile by coming onboard as the official billboard advertising partner for the event.
The partnership will see iPrint amplifying the event’s visibility with a series of impactful promotional displays on its traditional and electronic billboards across Kingston and St. Catherine.
“We’re proud to welcome iPrint on board as our advertising partner for the Mouttet Mile. Their expertise in outdoor advertising brings significant visibility and will help to raise public awareness and excitement for the event. We know their placements will reach thousands of potential attendees and will increase the anticipation and excitement for Jamaica’s premier racing event across key areas in Kingston and St. Catherine,” Aswanda Stoddart, SVREL AVP Administration, said.
iPrint’s involvement demonstrates its commitment to supporting Jamaica’s vibrant sports and entertainment scene and aligns with the company’s dedication to innovative advertising solutions that engage the community and bring high-profile events to the forefront.
“The efforts of SVREL in organizing and delivering this exceptional event, which not only elevates the profile of sports in Jamaica but also garners global attention through live broadcasts, are truly commendable,” said Mark Haddad, Sales Director at iprint Group of Companies.
“Supporting the Mouttet Mile aligns perfectly with the vision of enhancing and showcasing Brand Jamaica on the world stage. By collaborating with this diverse and prestigious event, we have a unique opportunity to amplify Jamaica’s cultural and sporting legacy. It is only fitting that we pledge our continued support to ensure the sustained success of the Mouttet Mile for many years to come, further solidifying Jamaica’s reputation as a hub of excellence and innovation,” he added.
SVREL and iPrint look forward to a successful collaboration that brings even more excitement to this year’s Mouttet Mile set for December 7 at Caymanas Park.
SVREL chairman calls for urgent reforms in stewarding after Heroes’ Day disruption at Caymanas Park
Following an internal investigation by Supreme Ventures Racing and Entertainment Limited (SVREL), significant gaps in training have been identified, leading to stewarding practices at Caymanas Park falling short of international standards. As a result, SVREL Executive Chairman Solomon Sharpe has called for urgent intervention from the Ministry of Finance and the Public Service to address these issues and ensure the future integrity of horse racing in Jamaica.
The investigation was prompted after the Heroes’ Day race meet at Caymanas Park was abandoned on Monday, October 21, 2024. A group of punters reacted violently to the stewards’ decision in Race 2, leading to the event’s cancellation for safety reasons. Sharpe stressed that the current state of officiating is not up to par for a racing jurisdiction aspiring to world-class status.
“Our internal investigation has identified significant training gaps that have resulted in local stewarding practices falling short of international standards,” Sharpe said. He explained that while SVREL provides the facilities for racing, the stewards' oversight falls under the Jamaica Racing Commission (JRC), a government-appointed body. Sharpe believes this disparity between local and international standards must be addressed immediately.
In his statement, Sharpe emphasized that improving stewarding standards is critical for the growth of horse racing in Jamaica. He called for the implementation of mandatory certification programs for stewards, ensuring that they are properly trained to handle the complexities of modern racing. He also advocated for regular assessments and retraining of officials to maintain a high level of competence and consistency in their decision-making.
Sharpe further stressed the need for clear accountability frameworks to be established, so that all decisions made by stewards are transparent and based on consistent, well-defined criteria. This, he believes, would help avoid situations like the one on Heroes’ Day, where the lack of clarity led to confusion and frustration among punters. Moreover, Sharpe called for the introduction of an independent appeals mechanism that would allow for the review of stewarding decisions, ensuring fairness and trust in the system.
Sharpe explained that these reforms are essential to creating a level playing field and restoring confidence in the integrity of horse racing at Caymanas Park. He expressed frustration that despite previous discussions with the JRC about the need for improved officiating, little progress has been made.
The incident on Heroes’ Day, which caused significant financial losses estimated at over JMD$70 million, underscored the importance of addressing these issues urgently. While Sharpe acknowledged the passion of racing fans, he firmly condemned the violent behaviour that followed the stewards' decision, stating that it endangered lives and tarnished the reputation of the sport. "While we value our patrons' enthusiasm, any expression of discontent must remain within acceptable bounds of sporting behaviour,” he asserted.
Sharpe also expressed disappointment with the lack of response from industry stakeholders following the incident. He pointed out that many who are typically vocal about SVREL’s operations have remained silent on this serious breach of sporting conduct. He called on all stakeholders to take equal responsibility for the sport’s integrity and to advocate for improvements in officiating and the overall management of races.
“The growth and sustainability of horse racing in Jamaica require more than just infrastructure investment and promotional efforts,” Sharpe said. “It demands the consistent application of international best practices across all aspects of racing.”
SVREL remains committed to modernizing Caymanas Park and advancing Jamaican horse racing. However, Sharpe made it clear that this vision can only be achieved through collective responsibility, with all stakeholders playing an active role in improving the industry’s standards and holding each other accountable.
“The time has come for all stakeholders to demonstrate their commitment to the industry's growth not merely through words, but through actions, consistent engagement, and a willingness to address difficult issues head-on,” Sharpe concluded.
SVREL apologizes for disruption and cancellation of Heroes' Day Race Meet at Caymanas Park
Supreme Ventures Racing and Entertainment Limited (SVREL) has issued an apology to its customers and stakeholders following the cancellation of Monday’s Heroes' Day race meet at Caymanas Park. The cancellation came after a series of disruptions stemming from the disqualification of the first-place finisher in Race 2, which caused unrest among some punters at the track.
In a statement, SVREL explained the incident: "On Monday, October 21, 2024, a series of unfortunate events led to the disruption and subsequent cancellation of races at Caymanas Park by the Jamaica Racing Commission Stewards."
The unrest began when the stewards' decision in Race 2 led to the disqualification of the initial winner. Displeased with the result, some punters expressed their dissatisfaction by throwing debris, creating an unsafe environment for patrons, participants, and horses.
"After the announcement of the race results, some punters became agitated and expressed their dissatisfaction in a manner that compromised the safety and security of all present. This included the throwing of debris across the Park, creating an unsafe environment for patrons, participants, and horses alike," the statement continued.
As the situation grew more volatile, trainers began voicing concerns for their safety, leading to the cancellation of subsequent races.
"In light of this development and prioritizing the safety of the horses, horsemen, punters, and all attendees, the stewards made the decision to abandon race 4 and subsequently, the entire race meet for the day," SVREL said.
The company further emphasized that security personnel, supported by the police, were working to manage the situation and prevent any further escalation.
SVREL concluded by offering a formal apology for the inconvenience caused: "Supreme Ventures Racing & Entertainment Limited, the operator of Caymanas Park, extends our sincerest apologies to our valued customers and stakeholders for the inconvenience caused by the abandonment of the race meet."
The company reiterated its commitment to the safety of all involved in the sport, while promising to address the issues that led to the disruption.
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