The BHB Board yesterday reviewed the racecourse picture deal at some length. It expressed disappointment at the terms of the deal for the following reasons:
The value of the deal did not reflect the true value of the picture rights.
The deal made no provision for payments for races covered by terrestrial television.
The deal was concluded with a middleman rather than directly with individual bookmakers contrary to agreed BHB and RCA policy.
The deal was concluded on a per-race, per-fixture basis which has unfortunate implications for the future value of pictures.
BHB Chairman Peter Savill said:
“While the picture deal negotiated by the RCA with BAGS is extremely disappointing, racing’s income in 2002/3 will exceed £160 million and in 2003/4 will exceed £170 million. This almost doubles racing’s income from 2001.
“It is also encouraging that the picture deal is only for a maximum of 32 months. If everyone now treats this current deal as an interim one and works to change the structure and level of the next deal, the industry will get back on track”.
For further information, please contact BHB Communications Manager Alan Delmonte on 020 7343 3318