Ascot on right financial track
Ascot racecourse today announced record pre-tax profits of £10.9million in 2001 - an increase of 51 per cent on the previous year's results.
The Berkshire track's continuing commercial success story is the fruit of an improved racesponsorship portfolio and record attendances.
In common with another 48 of Britain's 59 racecourses, Ascot's income was also enhanced by its share of the attheraces mediarights deal signed last June.
Since 1995, Ascot's race- sponsorship has increased in value from £700,000 to more than £3 million in 2002 - a figure approximately equivalent to 20 per cent of total sponsorship earned by all British racecourses.
Bad weather forced only one abandonment, the remaining 24 fixtures during 2001 attracted a record total crowd of 513,884 - increased from 492,412 spread over 22 meetings in 2000.
Expenditure will increase significantly this year due to radical redevelopment plans. The concept design will be completed within weeks and planning applications submitted in late summer, immediately following Ascot's plans to go public. Work on track realignment begins this autumn.
Chief executive Douglas Erskine-Crum would not be drawn on whether the Royal Meeting could be expanded to five days in future if this year's extended Golden Jubilee renewal proves successful.
