Horses formerly owned by John Dance permitted to run after agreement reached over funding

Horses previously registered to John Dance will be able to run again after the BHA said a deal has been reached with the Financial Conduct Authority (FCA) to release funds to cover the costs of his former racing operations.

On April 6, the FCA ordered three companies owned by Dance to cease operations after uncovering "serious regulatory and operational issues", before securing High Court orders to freeze his assets and place WealthTek, Vertem Asset Management and Malloch Melville in judicial administration.

That meant no entries could be made for any horses in Dance's ownership, the most high-profile of whom, Cheltenham Gold Cup runner-up Bravemansgame, was prevented from running at Aintree. He was then transferred to the sole ownership of Bryan Drew before his third-placed effort in the Punchestown Gold Cup.

While the FCA continues its investigation, the rest of Dance's string has been left in limbo. Many are trained in Middleham by James Horton, who confirmed to the Racing Post that he has made entries for racing on Saturday.

Horton added: "Our team has been absolutely outstanding during what has been quite a tricky period and I'd like to commend every single one of them for the work that has been put in for the last six to seven weeks."

James Horton: "Our team has been absolutely outstanding during what has been quite a tricky period." Credit: John Grossick (racingpost.com/photos)

In a statement issued on Monday morning, the BHA said that the FCA had "agreed to sufficient ongoing funds being released to cover the costs of Mr Dance’s racing operations, in accordance with the terms of the High Court’s freezing order. This is with a view to supporting the welfare of the horses and the livelihoods of the staff impacted by the investigation".

Horses previously registered to Dance will now run under the banner of either Coverdale Stud or Titanium Racing, though any prize-money or "other business profits" accrued from racing will be returned to the court-supervised administration.

The statement added: "The BHA continues to work with the FCA to ensure the terms of the High Court’s order are complied with, while prioritising the wellbeing of the horses and people affected."

Horton is responsible for eight entries across four meetings on Saturday, all of which would now carry the Coverdale Stud silks if declared.

Sam Maximus and connections after landing the Listed Hopeful Stakes

Sam Maximus had been among the original early entries for last week's Group 2 Duke of York Stakes and could make his return in the Listed Cathedral Stakes over six furlongs at Salisbury on Saturday evening.

At Goodwood, PJ McDonald is already booked for the 107-rated Phantom Flight in the Listed Festival Stakes over a mile and a quarter, as well as for debutant Neverstopdreaming in the fillies' maiden and Pure Angel in the 5f handicap later on the card. Phantom Flight was last seen finishing third in the Listed Magnolia Stakes at Kempton on April 1.

Having finished 12th in the Lincoln on the same day, Encourageable holds entries in valuable 7f handicaps at both Chester and York, while Rhythm Master and Harlem Nights – a winner at Wolverhampton just 24 hours before the FCA seized control of Dance's businesses – could also take their chances in 7f handicaps at the latter track.

Read more:

John Dance removed as joint-owner of Bravemansgame after his company placed in special administration 

John Dance horses shrouded in growing uncertainty as more details emerge of FCA investigation

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