Jockey Club Plans Major Investment at Aintree and Cheltenham

The Jockey Club has confirmed plans to invest for growth, beginning with significant spending at Aintree and Cheltenham, while the long-term future of Kempton remains uncertain and outside the organisation’s direct control.

Speaking on Saturday, Jockey Club chief executive Jim Mullen said the organisation intends to invest “tens of millions of pounds” into its two flagship racecourses, with the aim of elevating them to among the best sporting experiences in the UK. At the same time, the Jockey Club is reviewing cost efficiencies, with Mullen acknowledging this process could result in job losses.

The investment plans come against a challenging financial backdrop. In recent years, the Jockey Club’s profits have been impacted by tighter gambling regulation, wider economic pressures and declining attendances. However, its core operating profit did recover in 2024, according to financial results published in September.

Earlier this week, the Jockey Club also announced a £6m investment to revitalise the Derby meeting at Epsom.

Mullen, who joined the organisation as chief executive in June, said the strategy is focused on long-term growth. “Growth requires investment,” he said.

“In general I want to invest because there is a huge appetite for racing, not just in the Jockey Club but in the country. We are competing in a much more competitive landscape with other leisure activities as well as other racecourses.

“The demand is there but we need to invest and that is what we are doing. We are investing in the Derby, we are investing in our ticketing and customer insight, and we are also, as the first tranche, going to invest in our two largest racecourses.

“It’s important to remember this is not a one-off, it’s the first tranche of investment. Essentially, we are investing in Cheltenham and Aintree because they are the biggest courses which deliver the greatest returns, but we are not forgetting about our mid and small courses. The whole portfolio is going to share in the investment.”

Mullen said the funding would be directed towards both racecourse infrastructure and the overall customer experience.

“When that is done, post the investment, when you go to Aintree and Cheltenham you should be able to see the difference,” he said. “It will bring a better experience, which will be up there with some of the best sporting experiences in the UK.”

He added that securing funding had been a key part of his role, noting that the Jockey Club has “a number of interested parties”, although he declined to give further detail for confidentiality reasons.

Addressing speculation around potential asset sales, Mullen confirmed:

“Specifically for this investment this is not about using funds from selling racecourses.”