Martin Broughton, Chairman of British Horseracing’s governing body since July 2004, is to step down from the role this week, with Paul Roy replacing him as Chairman. This marks another step in the sport’s modernisation process that Broughton has overseen during his tenure.

Martin Broughton said: “I have decided that now is the right time to resign because the new team to lead British Horseracing should be in place and in operation as soon as possible. The best way to achieve this is for Paul Roy to assume the role of BHB Chairman.

“This was not the initial aim upon Paul’s appointment last autumn as Chairman-designate of the British Horseracing Authority, but everything is not quite in position with the new governance and regulatory structure. The Pension Scheme issue is taking longer than anticipated, but I am confident that it will be resolved.

“It has been a great privilege to be BHB Chairman, and I have fully enjoyed the experience despite its evident frustrations.

“I see my legacy as the new independent BHA structure, which had been laid down as an ideal for the sport to aim for well before I took on my role. One positive outcome of the ECJ Judgment was that the sport was able to be more radical with its restructure, which I’m sure is the right thing, and in Paul, and Nic Coward as his Chief Executive, British Horseracing has the best possible individuals at the helm.”