Thoroughbred Group and RCA to Collaborate on Commercial Partnership Goal

[Wandering Eyes]

It was announced in a joint statement on Monday that representatives of the Thoroughbred Group and the Racecourse Association (RCA) have undertaken a commitment to work together to pursue the signing of an industry-wide commercial partnership structure.

These partnerships would see a commercial link formed between participants and racecourses to share the revenue that is generated by the sport. This is agreed to be a critical requirement if the industry is to reward owners and provide racegoers and bettors with competitive and engaging racing. In turn, it is hoped that this will improve the experience and returns for those who invest in the sport, as well as the outlook for the businesses and individuals that depend on it to earn their living.

It was reported that work remains to get the first of these agreements in place but that significant progress has already been made between the Thoroughbred Group, the RCA and racecourses in recent months. This has included the sharing of financial statements in order to facilitate the drafting of proposals, for ongoing discussion, that will enable all racecourses to be evaluated equitably relative to each other, regardless of their business model, with the intent of encouraging greater investment in-prize money.

Charlie Boss, interim CEO of the Jockey Club, said, “We continue to work closely with the Thoroughbred Group and share their vision for a constructive, transparent and collaborative relationship between racecourses and participants, which we believe is vital for British racing's future.

“For some years now we have been meeting with industry groups and individuals to explain our financial performance and how money flows back through the sport. We welcome collaboration with the RCA and the Thoroughbred Group as the formally recognised bodies representing racecourses and participants on the commercial partnerships structure.”

Paul Johnson, chief executive of the National Trainers Federation (NTF), added, “With participants' businesses coming under increasing financial pressure, the foal crop down and a number of owners leaving the sport, we recognise that there is a critical, and urgent, need for change.

“We believe that commercial partnerships between racecourses and participants must be the first step in enabling differing stakeholder groups to function collectively to safeguard the future of British racing. A great deal of progress has already been made between the RCA, racecourses and the Thoroughbred Group and this commitment underlines the desire to put in place an agreement that can benefit the sport as a whole.”

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