The British Horseracing Authority (BHA) is to increase fees it charges racecourses and owners by 7.5% over the next three years.
The change was set out in the governing body’s latest three-year business plan, covering the period from 2017 to 2019.
Fee changes will be phased in and will increase by the lower rate of 2% next year, before rising by 2.75% in both 2018 and 2019.
The BHA said the increases have been made as it recognises the “short-term financial uncertainty faced by the sport in 2017 before racing gets access to funds from the Levy replacement”.
Other measures set out in the plan and budget guide include expectations for annual savings of £1.1 million (€1.3 million/$1.4 million) by 2019, with the aim of breaking even over the three-year period.
Nick Rust, chief executive of the BHA, said: “We’ve set a budget that will enable the BHA to deliver more for our sport while phasing in fee changes over a three-year period and keeping increases to an absolute minimum.
“I appreciate that any increase is unwelcome and that our sport’s participants are yet to see the benefit of increased funding from the Levy.
“That’s why we’re committed to delivering total annual savings of £1.1 million in the BHA’s budget by 2019 and are limiting the increase in fees in 2017 to 2%.
“Balancing increased activity with continued efficiency will enable us to deliver more for our sport while continuing to manage our budget prudently.”
source : www.igamingbusiness.com