Commenting on the written ministerial statement from John Penrose, the Minister for Tourism and Heritage, on the sale of the Tote, Paul Roy, Chairman of the British Horseracing Authority, said:
“Racing welcomes the Government’s latest steps in resolving the future of the Tote, and particularly that Racing interests are central to a successful outcome. We look forward to continuing to work closely with Government to get the best outcome for the sport.
“Racing is clear what is right for the sport from any change in the Tote’s status. MPs put it best earlier this month; the Tote was set up for Racing, and that must continue but in a way that fits the modern market after the Tote is removed from the public sector. That means recognition of the strong relationship between the Tote and the sport, which is such an important part of the business, and recognition of the contribution the sport racing has given to the Tote over many decades.
“The Foundation is a tried and trusted way of delivering those objectives. It reflects an ownership model that is true to the Tote’s roots of being part of its community, whilst providing commercial flexibility in the modern market.
“Following today’s announcement, other parties may want to talk to Racing about plans for the Tote. This is only natural given that the future success of the Tote depends on the co-operation of racing and the fact that racing’s interests are front and centre. They will know what they must do. We will of course listen, and discuss how they plan to provide an outcome that addresses all our issues.”