UK Racing - 12 000 Jobs under threat

racingpost.com

BHA chief warns 12,000 jobs may be under threat
By Bill Barber 7:43PM 18 NOV 2015

THOUSANDS of jobs could be lost in British racing unless action is taken to introduce a new funding mechanism for the sport soon, the government has been warned.

BHA chairman Steve Harman told MPs, peers and racing industry figures that the sport was fast approaching a "cliff" in levy funding and that there would be severe consequences unless action was taken to secure the sport's income.

It is understood racing believes that if the proposed horserace betting right - which would capture income from offshore betting currently lost to the sport - is not in place by 2017, 12,000 jobs across racing, from racecourses to racing yards, could be lost as a result.

Harman gave his dire warning at the British racing parliamentary reception at the House of Commons on Tuesday night, claiming the sport was going to lose £110 million over the next three years in money "leaked" through offshore operators.

Those present were told that, in order to help itself, racing had put in place a new governance structure - the recently finalised members' agreement - and a strategy for growth.

Read more in Thursday's Racing Post, available on iPad now