SportBusiness.com

Racing sets up Grand Slam

Horseracing in the UK is set for a major financial boost after the British Horseracing Board (BHB) unveiled a new £5m ($7.81m/EUR7.35m) jackpot prize.

Based around seven of the biggest races on the flat, the BHB is establishing a Triple Crown and Grand Slam.

The Triple Crown will be achieved by winning one of four races in June - the Vodafone Coronation Cup, Oaks, and Derby and the Prince of Wales Stakes - followed by success in the Coral-Eclipse Stakes at Sandown and the King George VI and Queen Elizabeth Stakes at Ascot the following month. In doing so they will pocket a £1m ($1.56m/EUR1.47m) bonus.

To land the big £5m prize, the same horse must then go and claim the Juddmonte International Stakes at York in August - thereby securing the Grand Slam.