Churchill Downs has doubled the purse for the Kentucky Derby (G1) to a record
$2 million guaranteed, making it one of the richest prizes in American racing.
The increase — the first since the purse was raised to $1 million guaranteed
in 1996 — places the “Run for the Roses” in a tie for second on the list of the
richest races in the United States. The $4 million Breeders’ Cup Classic (G1)
ranks as the nation’s richest racing event. The Breeders’ Cup Turf (G1) and
Breeders’ Cup Distaff (G1) are the only other American races to carry a purse of
$2 million.
Along with the increase, there will also be a change in the distribution of
the Kentucky Derby purse. The 1 1/4-mile classic will now offer purse money to
the top five finishers, with 62 percent of the purse going to the
winner. Purse money had previously been paid to the top four finishers.
The distribution of the $2 million Kentucky Derby purse:
Winner (62%) — $1.24 million
Second (20%) — $400,000
Third (10%) — $200,000
Fourth (5%) — $100,000
Fifth (3%) — $60,000
Fees to enter and start in the Kentucky Derby will also be raised from
$15,000 to $25,000, respectively, for a total of $50,000 that must be paid
before each horse can run. Those fees will become part of the Kentucky Derby
purse.
Approximately $100,000 in purse money for the Derby will come from nomination
fees to the Visa Triple Crown Challenge. Those fees remain unchanged in 2005 —
but the cost of a supplemental nomination at the time of entry will rise. Early
nominations, with a fee of $600, are due January 22. Late nominations, with a
fee of $6,000, are due by March 26. One third of those nomination fees will go
to the Kentucky Derby purse.
The fee for supplemental nominations will climb from $150,000 to $200,000.
Payment of that fee at the time of entry to the Kentucky Derby would make a
horse eligible for all three races in the Visa Triple Crown Challenge, but all
of the supplemental nomination fee(s) would go to the Derby purse.
Any nomination, entry, starting or supplemental entry fees beyond a total of
$900,000 will go to the winner’s share of the overall Kentucky Derby purse.
Churchill Downs will provide a minimum of $1.1 million of the $2 million
purse. In order to do so, the track has reallocated $375,000 in purse money from
other stakes events on its schedule — including the placement of one race on
hiatus for 2005. The $125,000-added Kentucky Breeders’ Cup S. (G3) for
two-year-olds will not be run in 2005, but could return to the stakes schedule
in the future. A total of $75,000 from the purse of that race — which also
included a supplement of $50,000 from the Breeders’ Cup Stakes program — will
go into the Derby purse.
Other purse changes in the 2005 Churchill Downs stakes program will include:
Fleur de Lis H. (G2) — purse drops from $400,000-added to $300,000-added
Northern Dancer Breeders’ Cup S. (G3) — purse stands at $200,000, but
Churchill Downs contribution will drop to $150,000 and $50,000 will be added
from the Breeders’ Cup Stakes program
Early Times Mint Julep H. (G3) — purse drops from $150,000 to $100,000-added
Ack Ack H. (G3) — purse drops from $150,000 to $100,000-added
Chilukki H. (G2), formerly the Churchill Downs Distaff — purse drops from
$200,000-added to $150,000-added
The entire 2005 stakes schedule for Churchill Downs will be released later
this week.
Officials said the Kentucky Derby purse increase will have no impact on
purses for overnight races at the track’s Spring and Fall race meetings. Daily
purses at Churchill Downs averaged $471,283 in 2004 and track officials expect
those purses to average around $480,000 per day in 2005.
Kentucky’s two leading horsemen’s organizations — the Horsemen’s Benevolent
and Protective Association and the Kentucky Thoroughbred Association — have
given their approval to the reallocation of Churchill Downs’ stakes funding.
Churchill Downs will present the 131st running of the Kentucky Derby on May
7.