The Jockey Club, the largest employer and commercial organisation in British horseracing, has today announced its full-year financial results for January to December 2024.
The results include turnover of £244.3 million, up £7 million (3 per cent) on 2023 and driven by a number of factors including growth in hospitality, sponsorship and media income.
The Jockey Club’s core operating profit in 2024 was £19.2 million, up £6.7 million on 2023. This was primarily due to revenue growth and cost management across the organisation, alongside a reduction in electricity prices compared to 2023 and business rates including refunds for the period since April 2023.
Total prize money of more than £56.9 million was distributed by The Jockey Club in 2024, which included a contribution from its own resources of £29.7 million. This reflected average total prize money per fixture of £180,000 and executive contribution of £94,000 per fixture, which was in line with 2023, and £1.5 million greater in total than in 2022.
The Jockey Club continued to invest in its facilities, with £11.3 million invested in capital expenditure projects in 2024, compared with £17.1 million in the previous 12 months, and £11.4 million in 2022.
In 2024, capital projects included significant customer-facing investment at Cheltenham including improvements to bar areas, an upgrade to floodlights at Kempton Park, as well as further investment in equine welfare projects, digital platforms and IT infrastructure.
The Jockey Club invested £1.5 million into track and equine facilities at The Jockey Club’s 15 racecourses, and Jockey Club Estates acquired 146 acres of additional land in Lambourn from the Kingsdown Estate, alongside a £300,000 investment in additional schooling, also at Lambourn.
Progress continued to be made on reducing The Jockey Club’s long term net debt position which in December 2024 stood at £51.7 million, down £2.2 million year-on-year. It was £105.8 million at its peak in 2015.
Jim Mullen, who took over as Group Chief Executive at The Jockey Club in June 2025, said: “Despite facing a number of economic, political and regulatory pressures, particularly in terms of the higher costs of running our business and the squeeze on discretionary spend, we continue to operate from a position of strength thanks to our significant asset base and highly capable team.
“In my first few months here I’ve seen a real passion to deliver fantastic experiences for our customers and financial growth for the business and that is evidenced in this set of full-year financial results, with increased turnover and profit year-on-year.
“The Board of Stewards and our Executive leadership team are currently in the process of reviewing our priorities, with a view to implementing a refreshed strategy within the next 12 months. And while issues like affordability checks and proposals to increase tax paid by bookmakers on horseracing continue to pose a significant threat, we should be proud that racing is a sport which is enjoyed by millions of people every year, contributes billions of pounds to the economy and supports tens of thousands of jobs.”
