31 Oct 2007 Pre-2014 Releases

British Horseracing Authority Chief Executive Nic Coward said:

“It was entirely avoidable that the 47th Levy Scheme for 2008/09 should be referred for determination by the Secretary of State. Racing has taken a constructive and reasonable approach throughout recent months. Regrettably, the Bookmakers’ Committee has rejected proposals put forward by the independent members of the Levy Board which Racing supported.

“The Levy is in place to deliver a fair and reasonable return to Racing. It should be greater than now, and that is the case that we will make through the determination process.

“The Levy requires modernisation. That is why we proposed a compromise solution that would see the current Scheme rolled forward for nine months to 31st December 2008 while a total review is conducted.

“Racing is united in its commitment to continue to work with all key stakeholders including the betting industry, the Levy Board and DCMS, to secure a positive outcome in the best interests of the sport.”