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Grand National set to be worth £1m- 26 Oct 2009 00:00:00

The Grand National, British horse racing’s flagship event, is to become a million-pound race by 2013 after a renewal deal was struck with title sponsor John Smith’s.

The race's sponsors John Smith's announced the increased prize-money after extending their sponsorship deal for a further three years.

‘We are actively working towards the £1m Grand National,’ said Julian Thick, Aintree managing director. ‘We have that in our sights for 2013.’

The jackpot for the 2009 National was about £900,000, which is dwarfed by the £3.5m on offer for the Dubai World Cup.

The Grand National sponsors also announced that they are dropping the ‘People's Race’ in favour of the ‘People's Racehorse’.

The ‘People's Race’ gave ordinary punters the opportunity to ride in a flat race.

The ‘People's Racehorse’ will be a four-year-old gelding named Smithy, which will be owned by customers who will register for one of 250,000 shares by buying a pint.

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