The Qipco Champion Stakes is set to be the richest race run in Britain this year, with £1.2million up for grabs on October 16.

With prize-money for this year’s Qipco British Champions Day totalling £4m, the Queen Elizabeth II Stakes will be run for in excess of £1m and the three remaining Pattern races on the card will each offer a prize fund of £500,000.

In all, prize-money across the showpiece fixture will increase by 60 per cent on 2020 levels, which were impacted by the covid pandemic.

John Gosden has enjoyed Champions Day success with the likes of Stradivarius and Cracksman and said: “We are very grateful to Qipco and British Champions Series for putting up such a valuable raceday. It is so important for British racing that there is internationally competitive prize-money on offer for owners who are the bedrock of our sport.

“Champions Day has quickly become one of the most important racedays in the global racing calendar and with such generous prize-money, I am sure that it will continue to thrive.”

Richard Hannon, who won the QEII with King Of Change in 2019, said: “You always want to have runners on Qipco British Champions Day and it’ll be even more important this year with such fantastic prize money on offer.

“All credit to Qipco and the team for making it happen – it’s a real boost for everyone in the game.”

Rod Street, chief executive of British Champions Series Ltd, said: “We are absolutely delighted to have restored prize-money on Qipco British Champions Day to £4m.

“It is crucial to the long-term future of British racing that we are able to offer globally competitive prize-money and are hugely grateful to our sponsors, Qipco, for making this a reality and for their continued support and commitment.

“Champions Day has always attracted the world’s finest racehorses and with such a valuable racecard, we look forward to welcoming the sport’s superstars back to Ascot once more on October 16.”

Sheikh Fahad bin Abdullah Al-Thani, director of Qipco Holding said, “We are proud to sponsor Qipco British Champions Day, the most valuable day in the British racing calendar, and are pleased that this year’s raceday, which marks the 10th anniversary of our sponsorship, will be run for £4m.

“The day has established itself at the pinnacle of the global racing calendar and it is only fitting that the prize-money reflect that.”