'Poor relation' - British racing at risk of being marginalised if affordability checks accelerate prize-money decline, warns Angus Gold

British racing could be increasingly viewed as the "poor relation" among major jurisdictions if prize-money becomes even more uncompetitive due to the impact of affordability checks. 

On Tuesday, David Redvers, racing manager and adviser to Qatar Racing, said the industry would be in "very serious trouble" if the checks contributed to a further weakening of its global competitiveness.

His views were echoed by Angus Gold, the long-serving racing manager to major owner-breeder Shadwell, who said the sport had to do more to encourage prospective owners to invest in British racing.

"For many years I've heard people say we've got the best racing in the world," said Gold. "That wasn't in dispute initially but it doesn't pay people's bills. 

"Unless we remain competitive, we'll not have the best racing and there's no point pretending we will. I've been fortunate enough to travel to a number of racing jurisdictions and in some we're slightly looked on as the poor relation due to our prize-money.

"This is a huge international industry and we're allowing it to wither away. If prize-money is not significantly increased throughout to compete at international levels, our industry will suffer. There will come a time when the next generation of big owners will say it's great having horses here but it doesn't make sense. It's a simple mathematical equation at the end of the day and people need a reason to invest."

Angus Gold: "We're sitting here a bit helpless"Credit: Laura Green

The BHA has warned MPs the proposal for affordability checks set out by the Gambling Commission in its consultation last autumn will jeopardise racing's finances by as much as £50 million a year, while the governing body also said there were "legitimate concerns" about the ability of British racecourses to sustain their current contributions to prize-money, which already lags behind other major jurisdictions.

Affordability checks were among the proposals contained within the government's gambling review white paper published last April. Bookmakers have already been carrying out intrusive checks and requests for financial information in anticipation of the government's measures and these have been blamed for a major contribution to a decline in betting turnover in recent months.

"As David said, the situation will affect so many aspects of investment into our sport, both from domestic and foreign buyers," added Gold. 

"It's going to impact the entire industry from top to bottom. Nobody disagrees with trying to tackle problem gambling but not to the detriment of the entire racing industry. It's obvious racing is not only going to suffer but has already and we're sitting here a bit helpless."

The formal introduction of affordability checks will be debated in Westminster Hall on February 26 after a petition calling for them to be scrapped passed 100,000 signatures in less than four weeks. An industry-wide campaign was launched by British racing last week to encourage those involved in the sport, those who bet and those who are fans to write to their MP to stress the importance of the debate.

"I do a monthly update to my owners and getting them engaged with this issue was the main thrust of my latest piece," said Jon Hughes, syndicate manager and co-founder of ownership pressure group Keep Owners In Racing. 

"It's important we start lobbying and we have to inform people they can do this via a template letter or via their own efforts. There's a real risk to British racing's future here."

Read more:

David Redvers: affordability checks could have 'catastrophic' impact on British racing's international standing 

Gambling minister Stuart Andrew: affordability debate at Westminster 'an important opportunity' 

'Please, please, carefully consider the damage you are going to do to the racing industry' - Middleham's plea to Rishi Sunak 

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