At the flag presentation ceremony for the Hong Kong, China delegations to the 2024 Paris Olympic Games today (9 July), it was announced that The Hong Kong Jockey Club (“the Club”) has increased cash incentives to reward athletes who represent Hong Kong, China at the Paris Olympics, giving the delegation a warm send-off before the Games.

The Club launched the three-year Jockey Club Athlete Incentive Awards Scheme (“JCAIAS”) in 2023, through which it sponsors the Hong Kong Sports Institute (“HKSI”) to provide cash awards to Hong Kong, China medallists taking part in major sports events up to 2025. These include the Olympic and Paralympic Games, Asian Games, Asian Para Games, World University Games, National Games and National Para Games as well as their respective winter Games. The aim is to incentivise and reward elite performance. Since the scheme’s launch, the Club has provided more than HK$43 million in cash incentives to recognise the dedication and commitment of Hong Kong, China athletes.

Ahead of the Paris Olympics this summer, the Club has increased JCAIAS cash incentives by 20% for both team and individual awards compared to the previous Olympic Games in Tokyo. Hong Kong, China athletes who finish in fourth to eighth positions at the Olympics will also receive a 20% increase in cash rewards. (See table below for details).

HKSAR Acting Chief Executive Chan Kwok-ki said he was pleased to see that the cash incentives provided under the Jockey Club Athlete Incentive Awards Scheme by the HKSI with sponsorship support from the Club will be 20% higher than for the Tokyo Olympics. This will encourage athletes to excel and strive for medals.

Attending the flag presentation ceremony today, the Chairman of The Hong Kong Jockey Club, Michael Lee, said that sponsorship of the JCAIAS underlined the Club’s commitment to support the development of local athletes. “We aim to foster a culture of public participation in sport in keeping with the Club’s mission to act continuously for the betterment of society. It is heartening to see our athletes well supported. They deserve recognition for their unrelenting effort and dedication.”

Mr Lee added that the Club would continue to work closely with the HKSAR Government and various sectors to empower local athletes to shine on the world stage. “On behalf of the Jockey Club, I extend my very best wishes to the Hong Kong, China delegation. We will be watching your performances at the Games with great interest and willing you to do your best.”

The Club has long supported sports development at community and elite levels through initiatives to encourage people of all ages and abilities to take part in sport. The Club’s Charities Trust has donated HK$4.65 billion over the past decade to advance sports.

Funded by the Club in partnership with the Government, the HKSI was established in 1982 (initially under the name Jubilee Sports Centre) as a training base for elite local athletes. The Charities Trust provided an endowment of HK$200 million in 1992 to establish a trust fund – now called the Hong Kong Jockey Club Elite Athletes Fund – to support the training, education and career development of top athletes.

As a staunch supporter of football development in Hong Kong, the Club also collaborates with professional bodies and community partners to enhance the physical, mental and social capabilities of young people. The Club has worked as a Hong Kong Community Football Partner of English Premier League club Manchester United since 2012, launching programmes to support youth development at school, community and elite levels.

In addition, the Club continues to lend its expertise in support of major sports competitions, including equestrian events at the 2008 Beijing Olympics, 2010 Guangzhou Asian Games and the 19th Asian Games in Hangzhou last year.

Jockey Club Athlete Incentive Awards Scheme: details of cash incentives
Paris 2024 Olympic Games (26 July to 11 August, 2024)

The Hong Kong Jockey Club

Founded in 1884, The Hong Kong Jockey Club is a world-class racing club that acts continuously for the betterment of our society. The Club has a unique integrated business model comprising racing and racecourse entertainment, a membership club, responsible sports wagering and lottery, and charities and community contribution. Through this model, the Club generates economic and social value for the community and supports the HKSAR Government in combatting illegal gambling. In 2022/23, the Club returned a total of HK$35.9 billion to the community. This included HK$28.6 billion to the HKSAR Government in duty, profits tax and Lotteries Fund contributions and HK$7.3 billion in approved charity donations. The Club is Hong Kong’s largest single taxpayer and one of the city’s major employers. Its Charities Trust is one of the world’s top 10 charity donors.