How Much Does The Trainer Win Kentucky Derby?
What kind of earnings can we expect from Rich Strike’s trainer and jockey if he wins the Kentucky Derby in 2022? – Trainer Eric Reed and jockey Sonny Leon rode to victory in their maiden attempt in the Kentucky Derby respectively while riding for Rich Strike.
- The standard payout for trainers and jockeys is ten percent of the total earnings.
- Saturday, Reed stated, “I never believed in a million years that I would have a Derby horse.” “I did not make an effort to attend the yearling sale in order to purchase a Derby horse.
- I just wanted to make sure that the people who bought horses from me were content, that they had a good time, and that they made some money.
If we received a nice one, it would be fantastic. This was never a consideration in my mind.” In a barn fire, Rich Strike’s trainer Eric Reed came perilously close to ‘losing everything’ Now he may call himself a winner of the Kentucky Derby. “I got a shot,” said jockey Sonny Leon after winning the Kentucky Derby, which was his first victory in a graded stakes race.
How much does the jockey get for the Derby?
LOUISVILLE, KENTUCKY – MAY 01: During the 147th running of the Kentucky Derby, which took place at Churchill Downs in Louisville, Kentucky on May 1, 2021, Medina Spirit #8, which was ridden by jockey John Velazquez, led the field through the first turn.
Photograph by Sarah Stier, courtesy of Getty Images) The winner of the Kentucky Derby receives more than just a glistening gold trophy and a bouquet of roses for their efforts. It’s also a good little paycheck for the jockey of the winning horse, although it might not be precisely what some supporters have in mind when they think about how much they’ll get.
The winner of the Kentucky Derby this year will take home $1.86 million of the total prize pool of $3 million. This year’s event was conducted at Churchill Downs. resulting in the rider receiving somewhere about ten percent of the total prizes. Not bad for a day’s work: you get $186,000 in return.
Those revenues, however, are reduced to around $50,000 in take-home income after agency fees, valet, and taxes are deducted. Which, although not insignificant in the grand scheme of things, is not nearly as much as one might imagine it to be considering the amount of money other sports personalities make.
The race known as “The Fastest Two Minutes in Sports” also has the jockey purses being distributed the quickest. Especially when one considers that even finishing in the top five might result in a rider receiving less than $10,000 in prize money. And this is before the Kentucky Derby increased the amount of money winners get from the 2019 value of $2 million to $3 million.
How much does the winning jockey at Kentucky Derby win?
Prize Money for the Kentucky Derby in 2022 The horses in the field will compete for a total payout of $3 million in the Kentucky Derby in 2022, of which $1.86 million will be awarded to the stable of the horse who finishes in the winner’s circle with a bouquet of roses.
In the meanwhile, the jockey of the winning horse who successfully crosses the finish line first will be awarded 10% of the winner’s payout, which is equivalent to a payday of $186,000 before taxes and other considerations are taken into account. The winning horse and jockey will earn themselves an automatic bid at the Triple Crown, a designation that comes with much fanfare in the lead up to the two remaining races that make up the Triple Crown, which are the Belmont Stakes and The Preakness.
But there is more at stake than just big money, a gold trophy, and a garland of roses. According to Twinspires.com, the following is a breakdown of the prize money that will be awarded at the Kentucky Derby: The first place prize is $1.86 million, of which the jockey will get 10%, or $186,000, of that total.
Second Place is worth $600,000, with the jockey receiving 5% of that amount, or $30,000. The third place prize is $300,000, of which the jockey will receive 5%, or $15,000. The jockey will receive $7,000 of the total prize money of $100,000 if they place fourth. A total of $60,000 is awarded for fifth place, with the jockey receiving $4,000.
In addition to the significant sums of money that are at stake, the Kentucky Derby also attracts a large number of famous people and professional sportsmen every single year. Photograph by Andy Lyons for Getty Images 
What percentage of prize money do trainers get?
Asking someone how much money they make is not really something that comes up in everyday conversation very often. In many fields of work, one might expect to get a certain base income in addition to additional wages for shift work or hour obligations.
- Even across a wide variety of athletic arenas, there are parallels that can be drawn with the management and staff of clubs and teams.
- These individuals are paid through a contract and are required to satisfy a number of key performance indicators in order to be successful in life.
- In the world of horse racing, things are not just different but also very different.
During the course of the season, the leading stables and trainers, who are responsible for a large number of horses that race at the Grade One and Group One levels, do win a significant amount of prize money; but, does this overshadow the greater picture? The recent retirements of Charlie Swan, Colm Murphy, Sandra Hughes, and Brendan Powell, as well as the merger between John Oxx and Patrick Prendergast, and Oliver Sherwood selling off his yard to only rent it back, all highlight the fact that there is a larger issue that will persist for an extended period of time.
- In Britain, there is a wide variety in the roles that different types of trainers play and the ways in which they earn their living.
- Each stable is arranged in a distinct manner, utilizing a one-of-a-kind training framework or model, and each base is home to a unique number of horses who have achieved varying degrees of success.
Some horse trainers have the good fortune to inherit their facilities, while others must pay rent or take out a mortgage in order to use their property. Still others choose to base themselves in major training sites such as Newmarket in order to save money on transportation costs because these facilities are shared with other trainers, while those based in more rural areas must use their own horse boxes and pay their own fees.
Some people even utilize the sport as a way to acquire horses for a low price with the intention of later selling them for a higher price once they have proven themselves successful in a few races. Because there are so many different expenses and approaches to consider, let’s simplify the situation by breaking it down.
Where does the money go that trainers have to pay? Staff – Forty percent of a trainer’s earnings go into paying staff members to operate the yard, care for and groom the horses, and accompany them on their endeavors on racecourses. Other workers remain at home to plan season goals and administrative tasks, among other responsibilities.
Expenses that are fixed, such as regular bills, rent, a mortgage, and payments, much like any other property Other: food, bedding, hay, and any necessary medications. In the event that something goes wrong in the yard, such as the tractor breaking down, etc., incidentals include maintenance surrounding the yard.
It is common knowledge that prize money serves as the principal source of income for horse trainers and owners all over the world. However, how does this factor into the monthly or annual cash flow? What about the monetary prize? Trainers are entitled to their fair part of the prize money, which amounts to around ten percent of the earnings earned by owners when a horse wins a race and less than six percent of the prize money earned by horses that place.
John Gosden, the champion trainer of flat horses, saddled horses that won a total of £8,516,014 in prize money in the previous year, which means that his cut would be almost £750,000. That is a very respectable sum to bring home, but given that he had over 200 individual runners during the previous term, it is unlikely that this sum will pay more than three or four months’ worth of expenses at the absolute most.
In the meantime, over in the National Hunt category, let’s take a look at Jonjo O’Neill as an example. Last year, O’Neill placed 20th in the race for the Jumps trainers’ championship, and his portion of the £639,240 that his runners accumulated would have been around £50,000.
- That would not even pay one month’s worth of expenses for a stable that put out 125 individual runners in the previous year.
- Will there be a profit? It varies.
- A portion of the prize money, as was previously indicated, training fees, profits made from the purchase and sale of horses, and transportation costs are the four primary sources of revenue for any yard.
Although the potential to earn a profit from purchasing and selling horses is larger on the flat, the majority of trainers “say” that at most they break even from the transaction. Personal trainers who additionally provide their own vehicles have the ability to generate an additional stream of revenue.
- Mark Johnston advertises on his website that his charge is £1 per horse per mile, but Tim Vaughan’s rate is only 75p per horse per mile.
- It all comes down to the trainer’s costs, which can run anywhere from £30 to £90 each day for each horse; yet, the great majority of trainers do not publicize their pricing information.
For instance, a stable with thirty horses would require the trainer to charge £38.36 a day per horse in order to avoid making a loss. This is assuming that all thirty horses would continue in training during the whole year, which is an extremely unlikely scenario.
- If a personal trainer charged $40 a day, they would recoup their expenses and make a profit of over $8,000 in a single month.
- However, this does not take into account any incidental expenses that may arise.
- A daily rate that is closer to £45 would be necessary for a yard of such size in order to build up a buffer to cover the few months off that a horse will have; however, the majority of trainers have a significant number of horses and would need to raise their fees overall in order to bring in enough money.
There are some trainers who are doing very well, but for the majority of people making a living in the sport, it comes down to the bill that is being charged and making sure that things like every horse box that is available is full to maximize opportunities for income and save on total expenses.
- There are some trainers who are doing very well.
- As was noted before, some trainers just have a few horses in their yard, and as the number of horses in the yard diminishes, it becomes very difficult to break even on the business.
- Finally, owners like Rich Ricci, who has had many stars across the National Hunt frame over the last few years such as Douvan, Faugheen, and Annie Power, are only involved in racing because they love the sport, and he would be one of only a select few who actually make something out of it if he does.
Rich Ricci has had many stars across the National Hunt frame over the last few years such as Douvan, Faugheen, and Annie Power. It should not come as a surprise that most individuals keep things secret.
Who is the highest paid jockey UK?
It is interesting to note that only one jockey who mostly works in the United Kingdom managed to make the top 50 on our list. That jockey was Frankie Dettori, whose projected career earnings were over $212 million, which demonstrates just how much larger the prize purses are in other nations (especially Japan).