BHB Chief Executive Tristram Ricketts, commenting on the announcement of further support for owners in the Levy Boar?_x0019_s Policy Statement 2000, said today:
“We warmly welcome the Levy Board’s agreement to BHB’s proposal that it supplement its Sunday Racing Appearance Money allocation for 2000 of £610,000 with a one-off contribution of £1.5 million for the period from 1st July 2000 to 31st March 2001. This will provide a much needed boost to the opportunities for owners to earn business income which underpins the VAT Scheme.
“BHB is developing a detailed Appearance Money Scheme for consideration by the Levy Board at its meeting on 24th May. From 1st April 2001 this supplementary Scheme will be funded from sources other than the Levy Board, on a basis yet to be agreed.
“We also welcome the Levy Board’s acceptance of BHB’s proposal that, in addition to the £1 million increase in its prize money contribution next year, it make an ongoing annual contribution of £650,000 to the Divided Races Fund. Divided races are levy generating, thus earning the Board a good return on its investment.
“The Levy Board contribution will enable the current surcharge levels to be very significantly reduced. Some surcharge income will still be required to provide the flexibility in programming which benefits all parties. The new surcharges will be agreed by the BHB Board on 8th May and introduced as soon as possible thereafter.”
For further information, contact Paul Greeves, BHB Racing Director, on 020 7343 3306