Royal Ascot prize money halved due to Covid-19

The prize money for this month's Royal Ascot, which will be run without spectators from June 16-20, has been more than halved due to the Covid-19 pandemic.

Organisers had said in December that more than £8 million (S$14.1 million) would be offered with the meeting hosting million-pound races for the first time.

On Thursday, they announced amended prize money of £3.68 million.

Ascot Racecourse chief executive Guy Henderson said in a statement that 2020 had been set to be a landmark year before the "unprecedented times".

"Some 70 per cent of our annual income comes from public admissions, including hospitality," he said.

The eight Group 1 races will each be run for £250,000. - REUTERS