New Sponsor Longines Will Increase Hong Kong Racing Prize Money
Hong Kong racing's "turf world championships" will see an increase in stake money with the transition to its new sponsor Swiss watchmaker Longines, according to Alan Aitken of the SOUTH CHINA MORNING POST. Longines takes over from previous eight-year sponsor Cathay Pacific. The 2012 Hong Kong Int'l Races will carry an additional HK$4M ($515,600) in prize money across the four Group One events. In addition, the Longines name will be "appended to the traditional int'l lead-up event," the Group Two Jockey Club Cup, for which the prize money remains at HK$3M ($386,700). The biggest increase from the sponsorship deal, in percentage terms, will be for the Int'l Jockeys' Championship, which is now worth HK$800,000 ($103,120) in total prizes shared across the jockeys finishing first (SCMP, 6/28).