Nichols hails 'constructive' discussions

Racing’s future funding and structure were the subject of an “extremely constructive meeting” between the Minister for Sport Richard Caborn MP and representatives from all aspects of the industry.

Delegates from the British Horseracing Board, the Jockey Club, the Racecourse Association, bookmakers, the Racehorse Owners’ Association, the Levy Board and the Future Funding Review Group discussed the progress made on the two key fronts.

Racing is currently funded by the Levy Board which is due to close in September 2009 while the independent Horseracing Regulatory Authority (HRA) is set to replace the Jockey Club and the British Horseracing Board who jointly govern and regulate the sport.

BHB chief executive Greg Nichols said: “We are very grateful to the Minister for organising today’s extremely constructive meeting and for his receptiveness and understanding of the key issues facing racing.

“We were able to update the Department for Culture, Media And Sport (DCMS) on the extensive legal advice we have received regarding the commercial funding option recommended by the Future Funding of Racing Review Group, and also to demonstrate how the sport is making very good progress with plans to merge its governance and regulatory functions.

“We will be having further discussions with Government over the coming weeks and months as we work together to ensure that racing has a secure funding mechanism from 2009 onwards.

“In the meantime, the sport will press on with its modernisation agenda, to which all sectors are committed.”