Ascot is preparing to host the King George VI & Queen Elizabeth Stakes on Saturday, a Group One race that the track has identified as its primary racing asset following a strategic decision made two years ago. The racecourse announced recently that it remains debt-free after paying off the final £3m of a loan from 2006, and reported annual pre-tax profits of £10.5m in 2025. The track also disclosed that next year’s edition of the King George will carry a British-record prize purse of £2.5m.
Nick Smith, Ascot’s director of racing and public affairs, characterized Saturday’s race as the best King George of this century, noting the exceptional quality of the assembled field. The contest features Calandagan, last year’s winner and currently the world’s top-rated racehorse, alongside Masquerade Ball, a Japanese-trained runner who finished second to Calandagan in the Japan Cup and sits just 2lb behind him on the ratings. Additional contenders include Benvenuto Cellini, the Irish Derby winner, and Minnie Hauk, who finished second in last season’s Prix de l’Arc de Triomphe.
The presence of Japanese runners holds particular significance given that nation’s thriving racing industry. Six Japanese-trained horses have attempted to win the King George without success since 1969, and Masquerade Ball’s trainer Takahisa Tezuka expressed confidence in his colt’s condition following the long journey to Britain on 12 July. According to Tezuka, the horse has matured considerably from three to four years old and training has progressed better than expected.
Ascot’s broader strategy aims to elevate the King George into Europe’s premier racing prize. Currently valued at £2m this year and set to reach £2.5m next year, it will rank behind only the Prix de l’Arc de Triomphe among European races in prize money. Smith indicated that the track’s long-term goal involves matching the Arc’s purse of €5m (£4.24m), though he acknowledged this would require several years to achieve given differences in European funding structures.
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