Churchill Downs Doubles Stephen Foster Purse to $2 Million for 2026 Running

Churchill Downs announced Wednesday that the Grade I Stephen Foster Stakes will run with a $2 million purse at this year’s June 27 card, doubling the $1 million prize the race offered in previous editions. The doubling makes the Stephen Foster one of the richest summer races for older horses in North America and is expected to attract a star-studded field for the 45th running of the 1 1/8-mile dirt race at Churchill Downs.

Churchill Downs billed the announcement with a marketing push calling the race the “Summer Showdown.” The race is part of the Breeders’ Cup “Win and You’re In” Challenge Series, meaning the winner earns an automatic berth in a Breeders’ Cup Classic division race later in the fall. Nominations for the Stephen Foster close June 10, with owners paying $20,000 to enter and $20,000 to start, equating to 2 percent of the total purse. The race will be broadcast on NBCSN and Peacock from 4:30 to 6:30 p.m. Eastern.

Payout Structure

The $2 million purse significantly elevates the financial stakes for connections of top older horses in training this summer. First prize is set at 53 percent of the purse, estimated at more than $1 million, after a small percentage is distributed to sixth through last-place finishers. Second place will receive 22.5 percent, third receives 12.5 percent, fourth takes 7 percent, and fifth earns 5 percent. That structure puts more than $450,000 in prize money for second place alone, creating a compelling financial incentive to run top horses rather than target smaller or more predictable spots.

The decision to double the purse reflects Churchill Downs’ continued investment in the commercial appeal of its summer racing calendar. The track has worked to build the period between the Kentucky Derby in May and the fall meet into a marquee destination for top horses, and the Stephen Foster has historically served as the centerpiece of that effort. Elevating the purse to $2 million places it in direct competition with other prestigious summer graded stakes events for the attention of leading trainers and owners.

Betting Implications

For sports bettors and horse racing fans, a doubled purse means a more competitive field and potentially better wagering value as multiple connections elect to point horses toward the June 27 date. The Breeders’ Cup qualifier status adds a secondary layer of significance beyond the purse itself, as a win in the Stephen Foster can set a horse’s entire fall campaign. Churchill Downs handles significant wagering volume on its signature races, and a $2 million Stephen Foster is likely to draw considerable attention from horseplayers and bettors when the field is announced after June 10 nominations.