New Money needed in UK Racing

Timico boss: racing too slow to build new links
BY JAMES BURN 5:58PM 16 JAN 2016
THE funding model for British racing is broken and the sport is going bankrupt, according to Tim Radford, the man behind new Cheltenham Gold Cup sponsor Timico.

In an interview in Sunday's Racing Post, long-time owner Radford, founder and chief executive officer of internet service provider Timico, has called for racing to forge better partnerships beyond bookmakers - something he believes should have been in place for some time.

Radford, whose green and maroon silks have been carried by Somersby, Racing Demon and Calgary Bay, stepped in to back jump racing's most prestigious prize when Betfred's support of the Gold Cup stopped.

'More money needed'

Under British racing's authorised betting partner scheme, bookmakers who do not contribute to racing on their digital business will be unable to sponsor some of the sport's most high-profile races.

Radford said: "The model is broken and racing is going bankrupt. We all know the prize-money is pathetic at the lower levels. To be critical of racing, it should have started a long time ago to attract non-bookmaker sponsorship, to develop relationships outside the sport, luxury brands, that sort of thing. For too long the authorities have relied on the same relationships.

"The funding model needs to be made anew, and racing needs to be run by professionals who can promote racing properly and bring more money into the game."