Next year's King George VI and Queen Elizabeth Stakes (G1) is set for another major prize money boost and will be run for a British record £2.5 million (approx. US$3,361,575), Ascot has revealed.
The increase represents an extra 25% on this year's total and means the contest's value will be double that of 2024.
Ascot said the move had been made in an attempt to maintain the race's position as Britain's most prestigious all-aged flat contest, and as the latest stage of moving toward parity with the Prix de l'Arc de Triomphe (G1) which will be worth €5 million (approx. US$5,705,175) this year.
The announcement came as Ascot published its financial results for 2025, which featured record revenues, an increase in pre-tax profits, and the clearance of its debts from the redevelopment completed 20 years ago.
This year's King George will be run Saturday for a record £2 million, up £500,000 compared with 2025 and making it Britain's joint-richest race with the Epsom Derby (G1).
Ascot's director of racing and public affairs Nick Smith said of next year's increase: "This is the second year of significant prize money increases for the King George as we try to start building parity towards the Arc.
"Obviously that's not going to happen overnight, but it's the benchmark for European prize money, and if the King George is going to maintain its position as Britain's most prestigious all-aged race, which I think the industry wants it to be, then prize money works."
Ascot has been buoyed by the presence of international stars such as Japan's Masquerade Ball and is hoping the prize money increase in 2027 will maintain that interest. The course has been working with the Jockey Club, Goodwood, and York to promote the midsummer highlights of British racing, including the July Cup (G1), the Sussex Stakes (G1), and the International Stakes (G1), to an international audience.
Smith said: "We can't rely on the classics and Royal Ascot to stand up as they always do. We have to enhance the midsummer and we have to protect the midsummer, which is when domestic trainers and connections are starting to focus on the lucrative autumn overseas.
"We can't let that drift and we have to make sure that our trainers, and trainers outside the country, are focusing on this golden period between the July Cup and Juddmonte International."
Smith said further prize money increases for 2027 would be announced later in the year.
He added: "We'll be looking at Royal Ascot and the whole program. We increased 52% of all of our races this year and we'll look at the wider program and announce that in December."
The prize money increases have been enabled by another year of positive financial results for the racecourse in 2025.
Turnover increased by 4.8% to a record £118.6 million, driven by strong performances across hospitality, retail catering, admissions and sponsorship.
The course reported a pre-tax profit of £10.55 million, up from £8.42 million in 2024, while EBITDA (earnings before interest, taxation, depreciation, and amortization) rose by £2.3 million (14.2%), including a £1.2 million business rates refund.
A mandatory £3 million loan repayment was made in 2025, which meant at the end of the year net cash stood at £10.4 million, compared with net debt of £4.6 million at the end of 2024.
Smith said: "We're debt free and we can start to look to the future, which of course is one of the reasons why we're able to make these quite punchy prize money increases early."
The course will also be looking to improve infrastructure at the course, with Smith saying: "We'll certainly be looking at what the customers want to see and what, if any, major improvements need to be made."
Ascot's chief executive Felicity Barnard said sustainable growth was "fundamental to our long-term success".
She added: "It allows us to invest in our site, enhance the customer experience and continue to strengthen our racing product.
"We were delighted to welcome more than 286,000 guests to Royal Ascot in 2025 and saw attendances increasing again this summer for the third consecutive year.
"This continued growth reflects our focus on strengthening the Ascot brand and listening closely to what our guests value most."
