Following today’s AGM speech by the Tote Chairman, Peter Jones, BHB Chief Executive, Tristram Ricketts, said:
“”While we welcome Peter Jones’ affirmation that the Tote should be kept within Racing if its contribution is to grow at a pace to satisfy racing’s many needs, it was very disappointing to hear him be so unsupportive of the BHB’s wholly legitimate claim to take responsibility for this key generator of funds for the industry, a claim which is wholly consistent with the recommendations of the Home Affairs Select Committee.
“”His remarks were the more disappointing for two reasons. First because the Home Secretary made it clear in his address today that the Government has ‘ruled nothing out and ruled nothing in’. Secondly because he appears to have misunderstood the way in which the BHB would exercise its responsibilities for the Tote, which in fact would differ little, if at all, from the manner in which he sees a Racing Trust operating. The BHB has consistently made it clear that it sees the introduction of yet another body into an already overcrowded industry as unhelpful, inefficient and divisive.
“”Given Peter Jones’ obvious preference for a Racing Trust, it was surprising that he failed to give any detail of its composition and thus to explain how such an organisation would differ from, and be preferable to, Racing’s democratic and accountable Governing Authority. He owes it to the racing industry to put flesh on the bare bones at the earliest possible date and to seek to convince them of the merits of his case.
“”The BHB will continue to explore alternative options, which would be likely to ensure, for the long term benefit of the punter and of Racing, a dynamic, progressive Tote capable of competing effectively with bookmakers and providing increasingly valuable income streams for our great industry.””