The Jockey Club has unveiled details of a deal with its catering partner Compass which will unlock £100 million in funds for the group to invest in the racecourse experience at both Cheltenham and Aintree, as well as underwriting its plans for revitalizing Epsom.
Among the targets for investment across the Jockey Club's flagship courses are a new Cheltenham weighing room complex complete with rooftop hospitality, and the development of the Aintree infield as a customer-facing area.
Under the arrangement, Levy—the sports and entertainment arm of Compass Group UK and Ireland—have signed an exclusive 20-year deal, which the two groups branded an "evolution" of their existing partnership designed to "revolutionize the spectator experience across their UK racecourses."
Compass has made an upfront payment and the existing joint venture will be rebranded as Jockey Club Experiences, building out responsibilities from catering to include all hospitality, conferencing, and events, as well as other retail offers.
News that a deal was imminent was trailed by Jockey Club chief executive Jim Mullen across the racing media March 15, while the Racing Post first highlighted the commercial opportunities the two parties were exploring late last year.
Mullen said in a press release announcing the deal: "This is an important moment for racing and the Jockey Club. We have agreed a long-term opportunity with a proven worldwide operator to help us grow our ability to invest in the sport and the customer experience.
"We want customers at our venues to enjoy the racing, enjoy the hospitality and come back to this great sport more often. Our partnership with Levy and Compass will elevate our offer even further, and we look forward to them playing their part in helping racing and us grow."
Mullen added: "I joined the Jockey Club because I want it to succeed and, with that at the forefront of my mind, I have made it my mission to find money for us to invest in growth."
Levy chief executive Jon Davies underlined the ambition which lies behind the investment his company is making with the Jockey Club, one which he said would set the bar for the raceday experience.
"This partnership is a defining moment for British racing and a statement of intent," said Davies. "Together with the Jockey Club, we are committed to setting a new global standard for the raceday experience.
"Our evolution into Jockey Club Experiences reflects the scale of our ambition and the responsibility we carry. By investing for the long term, we are elevating the experience for racegoers and strengthening the sport's position on the world stage."
The Jockey Club's development plans for Cheltenham, Aintree, and Epsom
The capital projects the deal with Compass will fund are to be rolled out over the next five years.
At Cheltenham, the rebuilding of the weighing room complex will result in a much taller building and is aimed at transforming the facilities for participants, as well as creating significant hospitality areas on the first floor and on a rooftop garden terrace.
The ageing main grandstand is to receive "significant upgrades" in all of its course-facing areas—designed to set the standard across the industry—while the Centaur and Gold Cup Suite will both receive investment along with hospitality facilities.
At Aintree, there will be an improvement and expansion of facilities dedicated to owners and trainers, with enough space to cater for the growth of syndicate ownership.
The Jockey Club will create extra enclosures across the infield during the Grand National meeting, while money will also be spent on updating the irrigation system.
At Epsom, the Queen Elizabeth II Stand—which was inaugurated in 1992 and sits between the winning post and parade ring—will undergo a full refurbishment, while the adjacent Duchess Stand (opened in 2009) will be upgraded with a view to both the raceday experience and its use as a conference venue.
There will also be a wholesale revamp of the racecourse entrance.
