'It needs to be more than just a short-term fix' - Goodwood chief executive on Peter Savill's prize-money plan

Goodwood’s chief executive Adam Waterworth believes a proposal for racecourses to agree to commit a set portion of their total racing revenue to prize-money is workable if it contributes to efforts being made to reverse British racing’s declining metrics and boost growth.

In an interview with the Racing Post on Friday, Peter Savill, the owner of Plumpton and a former BHB (predecessor to the BHA) chairman, said racecourses “needed to do the right thing” by contributing a third of their total racing revenue each year, with his forecasts suggesting it could increase prize-money by £25-35 million.

Savill has held meetings with trainers over recent months to set out his proposals and said there was “no question on the horsemen's side there is a very strong support level”.