Increase in Guineas purse money from $2 million to $2.8 million

Sports

Increase in Guineas purse money from $2 million to $2.8 million

BY OBSERVER RACING WRITER

Tuesday, July 14, 2020

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Following the resumption of racing at Caymanas Park on June 20 after a three-month break because of COVID-19, the promoting company, Supreme Ventures Racing and Entertainment Limited (SVREL) issued the usual condition book which had the two Classic Guineas races carrying a purse of $2 million each.

Yesterday at a press conference held at Caymanas Park, SVREL, through its chairman, Solomon Sharpe, announced that the purse money for the two races would increase by $800,000 each.

The 1000 and 2000 Guineas races run over one mile (1,600 metres) are the first two of five embedded yearly Classic offerings.

The 1000 Guineas for fillies will occur on Saturday, July 25, while the 2000 Guineas for colts and geldings is scheduled for Sunday, July 26.

In explaining the increase, Sharp said: “I have to put the situation in context. Racing has restarted after the COVID-19 break. The promoting company suffered badly during that time. Nevertheless, SVREL is committed to the promoting horse racing. Still, the situation is that we have to try our best at minimising the losses because of the pandemic while catering as much as possible to our stakeholders' needs.”

Sharpe added: “Last year the purse for each of the Guineas races was $3.5 million. Then SVREL provided $2 million of that $3.5 with a sponsoring company putting up the other $1.5 million. This year we have no sponsor, so we originally offered the Guineas for a total purse of $2 million each. We have since reviewed the situation and have decided to add $800,000 to each of the two Guineas races.”


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