The Hong Kong Jockey Club (“the Club”) announced today (9 August) that cash incentives will be increased for local athletes who perform well in this year’s Paralympics. The announcement was made at the flag presentation ceremony for the Hong Kong, China delegation to the Paris 2024 Paralympic Games, giving the athletes further encouragement ahead of their competitions. The increase follows an earlier rise in cash rewards for athletes taking part in the Paris Olympic Games.

The Paris Paralympics will kick off at the end of August. To reward the dedication and achievements of Hong Kong, China’s para athletes, the Club has increased cash incentives under the Jockey Club Athlete Incentive Awards Scheme (“JCAIAS”) by 87.5% for both team and individual awards compared to the previous Paralympic Games in Tokyo. The same percentage increase is being applied across the board, to medallists and athletes who finish in fourth to eighth positions in the Paralympics. (See table below for details.)

The Club launched the three-year JCAIAS in 2023, sponsoring the Hong Kong Sports Institute (“HKSI”) to provide cash awards to Hong Kong, China athletes who win medals in major sports events. These include the Olympic and Paralympic Games, where those who finish in fourth to eighth place are also rewarded, as well as the Asian Games, Asian Para Games, World University Games, National Games and National Para Games, and respective winter Games.

HKSAR Chief Executive John Lee said he was pleased to note the increased cash incentive offered under the Jockey Club Athlete Incentive Awards Scheme by the HKSI, with sponsorship support from the Club. He noted that this year's cash reward has nearly doubled as compared to that for the Tokyo Paralympic Games, reaching HK$1.5 million for gold medallists. He remarked that the Scheme would support Hong Kong's athletes with disabilities in excelling at the Games.

Attending today’s flag presentation ceremony, Club Steward Lester Huang expressed his wholehearted support for the para athletes. “The athletes representing Hong Kong, China in the Paris Paralympics have the full support of The Hong Kong Jockey Club,” he said. “On behalf of the Club, I extend my heartfelt best wishes to the Hong Kong, China delegation. We will be cheering you on to do your absolute best and hope you can benefit from the awards scheme. The Club supports the city’s sports development not only to nurture our elite athletes, but also because sport plays an important role in character-building. Sport cultivates mental strength, persistence and self-discipline, and in turn helps us to overcome life’s difficulties.”

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 named 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. In 2021, the Club pledged HK$150 million in funding to match the HKSAR Government’s HK$150 million grant for the Sports Science and Research Funding Scheme.

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, which have included the equestrian events of the 2008 Beijing Olympics, 2010 Guangzhou Asian Games and last year’s 19th Asian Games in Hangzhou.

Jockey Club Athlete Incentive Awards Scheme: Details of cash incentives
Paris 2024 Paralympic Games (28 August to 8 September 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.