Sir Alex Ferguson is set to receive a tax-free five-figure sum from the Cheltenham Festival, with the potential for even more. The former Manchester United manager is part of a syndicate that owns several racehorses, which have already secured two placed finishes at the meeting.
According to figures from Sky Sports, L'Eau du Sud's third-place finish in the Queen Mother Champion Chase on Wednesday brought in prize money of £42,440. This was supplemented on Thursday when Regent's Stroll also finished third in the Jack Richards Novices' Chase, netting Ferguson and his co-owners a further £14,788.
A 15th-place finish for Il Ridoto in the Kim Muir yielded no returns, as only the top eight finishers in that race receive prize money. However, there is another opportunity to boost the earnings on Friday when Maestro Conti competes in the Triumph Hurdle. The winner of that race will collect an £84,405 prize pot, with second place taking £31,800, third £15,915 and fourth £7,950.
Should Maestro Conti triumph, the combined prize money from Ferguson's horses will amount to £141,633. Even without a result in Friday's race, his horses have already banked a total of £57,228. The money will be exempt from tax due to a loophole, as HMRC classifies racehorse ownership as a hobby activity rather than a commercial trade.
Ferguson will not pocket all the winnings himself; under British Horseracing Authority rules, the trainer, jockey, stable staff and industry charities must receive a share. It is estimated that the ownership syndicate would take home approximately 78 per cent of the total payout, amounting to roughly £44,638 of the current earnings, or around £110,474 should Maestro Conti win.
