Thoroughbred Group 'close' to unveiling prize-money proposals with tracks in wake of Peter Savill intervention

Thoroughbred Group chair Julian Richmond-Watson has revealed that proposals for commercial agreements on prize-money with Britain's racecourses are in the final stages of preparation before being presented to the Racecourse Association and the BHA board. 

Richmond-Watson was speaking in the wake of former British Horseracing Board boss Peter Savill's intervention at the weekend, in which he claimed that prize-money agreements "have proved to be meaningless," and instead put forward a kitemark scheme championed by his newly formed pressure group, the Professional Racing Association (PRA).

Savill said the PRA has spoken to 25 racecourses and had already accredited York, Ripon, Hamilton, Fakenham and his own course, Plumpton, based on those tracks sharing income data and passing the threshold of contributing one third of their racing income to prize-money.