Another group of Hong Kong racing’s highest earners can be found inside the training yards. There were 22 licensed trainers in Hong Kong during the 2025/26 season, with the number increasing to 23 for 2026/27 following the arrival of leading Australian trainer James Cummings. Compared with most highly paid professions, a Hong Kong trainer’s licence is an exceptionally rare position.
Under Hong Kong Jockey Club racing rules, trainers receive 9.2 per cent of the prize money earned by locally trained horses. This means the Champion Trainer is not necessarily the trainer who earns the most from prize-money percentages. Last season, Caspar Fownes secured the trainers’ championship with 69 wins, while his stable earned HK$85.34 million in prize money. Based on the 9.2 per cent share, that equates to approximately HK$7.85 million for the trainer — behind several of his rivals in prize-money earnings.
The real prize-money leader was Danny Shum. Although he finished runner-up in the championship with 65 wins, his stable amassed more than HK$139 million in prize money, equating to an estimated trainer’s share of around HK$12.79 million. ROMANTIC WARRIOR alone contributed HK$74.036 million during the season, which would represent more than HK$6.81 million of Shum’s share.
David Hayes provides an even clearer example of how one superstar can transform a stable’s earnings. His yard recorded 56 wins and HK$135.26 million in total prize money, producing an estimated 9.2 per cent share of around HK$12.44 million. KA YING RISING alone earned HK$92.599 million during the season, theoretically contributing about HK$8.52 million to Hayes — more than the estimated prize-money share generated by Fownes’ entire stable. Mark Newnham was another leading earner, with his stable collecting HK$134.16 million and an estimated trainer’s share of approximately HK$12.34 million.
The figures show that the trainers’ championship measures the number of winners, while prize-money earnings are often determined by whether a stable possesses an elite racehorse capable of winning the richest races. Fownes was the champion by quantity, Shum was the prize-money king, while Hayes possessed perhaps the most lucrative star of all.
However, seven-figure earnings come with considerable demands. Trainers start work in the early hours, manage both horses and staff, answer to owners and carry the constant pressure of producing results. The rewards at the top of Hong Kong racing may be substantial, but they are certainly not earned easily.