Former Manchester United boss Sir Alex Ferguson has thus far earned five figures in prize money from the Cheltenham Festival, and that could still yet increase
Sir Alex Ferguson has already banked a sizeable windfall from the horses he part-owns finishing well at Cheltenham Festival
Sir Alex Ferguson has already banked a sizeable windfall from the horses he part-owns finishing well at Cheltenham Festival(Image: (The Jockey Club/PA Wire))
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Former Manchester United boss Sir Alex Ferguson is set to pocket a tax-free five-figure sum from the Cheltenham Festival, with the potential for even more. The Scot is part of a syndicate that owns multiple 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. Nevertheless, there's another opportunity to boost the earnings on Friday.
Ferguson will see Maestro Conti compete in Friday's Triumph Hurdle (1.20pm). The victor 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, that prize money combined with what's already been secured means Ferguson's horses will have accumulated £141,633. Even without a result in Friday's race, his horses have already banked a total of £57,228.
That money will also be exempt from tax due to a loophole. HMRC classifies racehorse ownership as a hobby activity rather than a commercial trade, meaning it's therefore not subject to taxation.
Ferguson, however, won't be pocketing all of the winnings himself; as per British Horseracing Authority rules, the trainer, jockey, stable staff and industry charities must receive a share. It's estimated that the ownership syndicate would take home approximately 78 per cent of the total payout.
Sir Alex Ferguson reacts at Cheltenham Festival
Sir Alex Ferguson has been at Cheltenham Festival this week(Image: PA)
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In Ferguson's ownership syndicate's case, this would amount to roughly £44,638 of the current earnings - or around £110,474 should Maestro Conti win. Ferguson is not the only person with a United affiliation cheering on his horses this week, with Steve Bruce and Bryan Robson spotted in the winners' enclosure.
The latter was even interviewed live on ITV and revealed how he became a jump racing fan. He said: "From when I was at West Brom, I had a bit of a share in a horse. Then when I came to United... The worst thing that could have ever happened was that horse won 13 hurdle races, and that got me into it."
Following Friday's Gold Cup day, Ferguson is expected to be back at Old Trafford this Sunday as Man United face Aston Villa in the Premier League.
The 84-year-old remains a regular at the home games of his former club despite his global ambassador role being removed as part of cost-cutting measures.