British racing must tackle weaknesses, says owners’ boss
British racing volition proceed to contract in addition to lose owners unless it urgently addresses its fiscal weaknesses, the primary executive of the Racing Owners Association says.
Richard Wayman, writing on the association wesbsite, said figures published lately inwards the International Federation of Horseracing Authorities annual report clearly illustrated the biggest challenge facing British racing.
The authorisation calculated prize-money equally a per centum of maintain in addition to preparation costs inwards 47 racing nations.
“From a British perspective, it makes real sorry reading,” Wayman said.
“In fact, in that place are only 5 countries – Austria, Belgium, Denmark, Serbia in addition to Switzerland – inwards which, using this measure, owners fare worse than here.”
A tabular array shows British racing tailing off from the residue of the field, behind neighbours France, Italy, Deutschland in addition to Ireland, he said.
“The fact that the British possessor recovers, on average, only £21 for every £100 that they pass on keeping a Equus caballus inwards preparation confirms what nosotros already know: the finances of owning a racehorse inwards United Kingdom of Great Britain in addition to Northern Ireland of Britain in addition to Northern Republic of Ireland don’t stack up. The fact that y'all don’t convey to go far to bask a meaning improvement inwards fiscal returns explains why a growing issue of British owners are increasing their racing interests elsewhere.”
Wayman stressed it was non all “doom in addition to gloom”, acknowledging that the lineament of racing in addition to facilities at many British racecourses were instant to none.
“However, unless British racing urgently addresses its fiscal weaknesses, the manufacture volition proceed to contract equally owners trim their interests or fifty-fifty piece of job out the sport entirely.”
Wayman noted that prize-money roughshod below £94m final yr for the showtime fourth dimension since 2003.
“Whilst in that place is about crusade to go optimistic, the reality is that British racing volition demand to notice significantly to a greater extent than improvement if it is going to hook its means out of racing’s prize-money relegation zone.”
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