Newbury have announced that the Ladbrokes Trophy will be worth £200,000 this year with the pot for the whole meeting down by just a quarter on last year.
With prize money having taken a major hit due to the coronavirus pandemic the news was met with some relief by leading jumps trainers given this is one of the first big races of the National Hunt campaign.
Won last year by De Rasher Counter, this year's race represents 80% of the 2019 value. The Grade 2 Ladbrokes Long Distance Hurdle which takes place on Friday 27 November will be run at last year’s value of £50,000.
The two-day fixture will offer a total prize fund of £530,000 which averages at 76% of the 2019 value.
Keith Ottesen, Newbury Clerk of the Course said: "This is a significant investment in prize money for our flagship Jumps meeting during a very uncertain time for the business and the industry, which we hope will be welcomed and supported by the horsemen.
"We would like to record our thanks to Ladbrokes for their ongoing support along with the Sir Peter O’Sullevan Charitable Trust. We are hopeful of being able to welcome crowds back here again for the meeting and although to what level is unknown, the planning is well under way, and we are really looking forward to it."
Emma Lavelle, winning trainer of both of the 2019 Ladbrokes Trophy and Long Distance Hurdle said: "This is another step in the right direction in terms of returning to near normal levels of prize money and its positive to see this announcement from Newbury and Ladbrokes. Both De Rasher Counter and Paisley Park are back in work and all being well, will head to Newbury to defend their titles in their respective races come the end of November."
Nicky Henderson added: "Newbury and Ladbrokes have to be congratulated on the news of their prize money levels for their Festival weekend, as we need to keep moving in the right direction in these challenging times.
"Being able to nearly hold prize money to their pre-pandemic levels for the Ladbrokes Trophy and last year’s value for the Long Distance Hurdle is extremely welcoming news for everybody. These are challenging times for everybody, so this is not only welcome news but a good example of what can be achieved and is much needed and appreciated."
Paul Nicholls added his support, saying: "It’s good to see £200,000 on offer for The Ladbrokes Trophy under the current climate. It’s one of the most prestigious races of the Jumps calendar and all being well, I’ll be hoping to do a ‘Denman’ with Topofthegame by taking him there first time out this season.”