Auction price cap to be placed on median auction races from 2018 onwards
The British Horseracing Authority (BHA) has today announced that an auction price cap will be placed on median auction races from next year.
The move is designed to ensure the contests remain an opportunity for horses who have been bought for relatively little.
Horses which qualify under the median price of the race but were bought or sold in at auction for more than £20,000 above the median value of the race will now be excluded.
Paul Johnson, Head of Racing at the BHA, said: “The changes to median auction races are in response to our concerns that the median approach alone occasionally allowed horses that the races were not really designed for to take part, those being horses that had established a high sales price but are the progeny of stallions with a low median sales price.
“The introduction of a median auction price cap should ensure that the races become more attractive to the smaller owners and breeders, which was their original purpose.”