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ATC Announces Prize Money Increases
The Australian Turf Club (ATC) yesterday announced that it plans to increase prize money and cut training fees in a sign of the club's strong fiscal position, reports AAP. Among several spring and summer features set to receive prize money boosts is the time-honoured Gr1 Epsom Handicap in October, which will double to $1 million. In total, $2.085 million will be distributed to major races this spring as part of the ATCs strategy of increasing returns to owners, trainers, jockeys and the wider industry. ATC CEO Darren Pearce said the club's continued financial improvement had allowed it to direct more funds into prize money as part of a wider return to Sydney racing. "Prize money is just one area where we have been able to return more of our surplus to the industry, and we are delighted to further bolster our Spring program,'' Mr Pearce said. "In partnership with Racing NSW, and with revenue from areas such as TV rights, we can now continue to invest further." He added: "The reduction in track fees represents the beginning of a commitment to use surpluses to reduce costs for owners and we are committed to doing more in the future as we focus on continual improvement. Importantly, the reduction in track fees spreads through to all owners and trainers in Sydney.'' Click here for prize money distribution breakdown.