Horseracing bodies agree Covid-19 recovery plan
BHA, Racecourse Association and Racehorse Owners Association target immediate reform of horseracing levy
An “immediate” reform of the horseracing betting levy is among measures put forward by three of the sport’s largest trade bodies in a new plan to restore UK horseracing to growth post-Covid-19.
Representatives from the British Horseracing Association (BHA), Racecourse Association and Racehorse Owners Association (ROA) have published a recovery plan for the sport, targeting a restoration of revenue “wherever possible”.
This includes the immediate pursuit of reform of the horseracing betting levy in order to provide more funding for the sport.
The three groups will aim to agree a spending plan for centralised funds to support the recovery of the sport, as well as balancing the health and wellbeing of all participants.
A reduction of costs during the next year and an “agile” approach to potential new investment opportunities is also included within the recovery plan.
This includes retaining key investors and the reform of rules for syndicates and clubs to protect members and increase their appeal to potential owners.
The group is also seeking to maximise possible prize money for owners through new commercial agreements between the Racecourse Association and ROA.
In addition, the plan targets a full return of spectators in 2021 to address the “significant economic challenges” faced by racecourses who rely on racegoers for 50% or more of their income.
Elsewhere, a Racing Relief Fund has been set up to provide financial support to prevent equine welfare issues emerging as the sport moves back to a full programme of events.
Outgoing BHA CEO Nick Rust stressed the importance of the entire sport coming together on the recovery plan and that continuing that collaboration would ultimately ensure its success.
“We know from the way we prepared to resume racing in June that working together works,” said Rust. “The commitment shown by leaders in signing up to this recovery plan demonstrates a continued willingness to maintain a unified approach through the tough battles ahead.”
His sentiments were echoed by Racecourse Association CEO David Armstrong, who said: “This plan brings together all the necessary components in one clear action plan with some ambitious goals.
“From a racecourse perspective, the return of racegoers and the experience for owners are clear priorities that are already underway and we look forward to the wider recovery of the sport,” Armstrong added.