Churchill Downs doubles Stephen Foster purse to $2 million

Churchill Downs did more than double the purse for its signature older-horse dirt race. By pushing the Stephen Foster Stakes to $2 million, the track turned the June 27 Grade I into a far more consequential stop for 4-year-olds and up, one that can alter training plans, shipping decisions and even the way horsemen map the rest of the summer.

That is the real competitive ripple effect. A race that once sat comfortably as Churchill’s marquee older-dirt event now sits much closer to the center of the national conversation, especially with the Stephen Foster already serving as a 1 1/8-mile test that rewards horses with class, stamina and a current form cycle. The richer purse makes it harder for top barns to pass and easier to justify a midseason trip to Louisville, Kentucky, instead of waiting for other targets later in the year.

The field list already hints at the kind of race Churchill wants. Sovereignty, Baeza, Magnitude, White Abarrio and Skippylongstocking were among the elite dirt horses said to have expressed interest, a sign the track is aiming well above a routine graded-stakes lineup. If they show up, the Stephen Foster would look far different from the old version: not just a strong local feature, but a destination race with national weight.

Churchill’s own recent history shows why the move matters. The track said the 2025 Stephen Foster was the deepest and most accomplished in the race’s 44-year history, with a seven-horse field that combined for more than $26 million in earnings. Mindframe won that edition by a length over Sierra Leone, with Kentucky Derby 150 winner Mystik Dan and Dubai World Cup winner Hit Show also in the lineup. The new purse is designed to keep that level of quality from drifting elsewhere.

The bigger money also puts the Stephen Foster in rare company. Daily Racing Form said the race will now rank among the richest dirt races for older horses in the United States, trailing only the $7 million Breeders’ Cup Classic and the $3 million Pegasus World Cup. That is a meaningful jump in status, not just a headline number.

The 45th running of the Stephen Foster is scheduled for Saturday, June 27, with gates opening at 11:30 a.m. and first post set for 12:45 p.m. The card will include six other stakes races, three of them graded, and the race will air from 4:30 to 6:30 p.m. EDT on NBCSN and Peacock.

The purse hike also fits a broader Churchill strategy. The track said its 2026 Spring Meet will feature 50 stakes races worth a record $27.8 million in total purses, and it already lifted 16 stakes this spring, including the Old Forester Bourbon Turf Classic to $1.5 million. The Stephen Foster is no longer just part of that push. It is becoming one of the races that defines it.