Help for Horse racing in the UK

“Horse racing is part of our national life,” remarked John Whittingdale, Minister for Gambling and Lotteries. “We have stepped in to provide £21.5 million as part of the Sports Survival Package, to help get the sport back on track, secure its future and retain its place on the world stage.”

Under the HBLB’s plans, £15m will be divided between prize-money funds to competitors and financial assistance for racecourses over 12 months from July 2021 onwards.

The remaining £6.5 million will be retained by the Levy Board across 2022 and 2023 as a financial means of providing ‘further flexibility’.

“HBLB is pleased to announce that it has accepted a ten-year loan of £21.5 million from the Government’s Sport Winter Survival Package,” saidPaul Darling, Chairman of the HBLB. “This is in keeping with our desire to provide over and above support to the sport in this exceptionally difficult time.

“HBLB’s involvement came about after Racing indicated that there were structural difficulties with Racing taking up the Government’s support and that it considered HBLB the most appropriate vehicle to do so, which would benefit the whole of the sport and that this secondary model was essential if the package was to help the wider industry…