A group of racing “heavyweights” have approached the sport’s governing body with a radical proposal for a Premier League-style shake-up that would see greater prize money focussed on the elite level.
Headed by former British Horseracing Board chairman Peter Savill, the group – which includes representatives from racecourses, leading trainers and bookmakers – sent a letter to the British Horseracing Authority (BHA) on Monday detailing a number of suggestions to tackle what they see as British racing’s major problems, including the drain of top equine talent to overseas buyers and small field sizes.
The proposal does not call for an overall reduction in the fixture list, instead asking for fewer elite races in order to increase field sizes at the top end, while adding more races at lower levels.
The group’s report also suggests channelling more prize money into higher-class races, which would be concentrated on weekends and big midweek festivals such as Royal Ascot or the Cheltenham Festival.
Speaking on the Nick Luck podcast, Savill said: “Over the last few months I’ve met with a number of industry heavyweights – owners, trainers, breeders, racecourses, the betting industry – to get their perspective on a number of issues that are facing British racing.
“As a result of that, we’ve put together a letter to the BHA which outlines principles we think they should take forward. It’s now up to them.
“If all the top footballers were leaving the Premier League and going to Spain or Italy, the Premier League would have far less appeal to people and the media rights would become far less valuable. That’s equivalent to what’s happening here”
“At the moment, we have the finest racing in the world and the finest horses but what we don’t have is the finest races in terms of prize money. When the Premier League started, it didn’t have the billions it has now but it got the structure right.
“The reduction in the number of horses at the top end has become quite dramatic.
“If all the top footballers were leaving the Premier League and going to Spain or Italy, the Premier League would have far less appeal to people and the media rights would become far less valuable. That’s equivalent to what’s happening here and we’ve got to do something about that.
“The problem that’s linked to that is one of the field sizes and we have to solve both of those problems. If we don’t British racing is just going to go further downhill.
“We’ve to find a way to get considerably more prize money at the top end. A racehorse is an asset and if that asset is worth £250,000 then you’ve got to have a return on that.”
Please use Chrome browser for a more accessible video player
In response to the proposal, a BHA spokesperson said: “British racing’s leaders have agreed to deliver an industry strategy which has the sport’s financial future, prize money, international competitiveness and the appeal of the racing product to our various customers at its core.
“It is clear that action needs to be taken, and in order to grow the sport will need to innovate.
“For these reasons we welcome any proposals from those who have the interests of the sport at heart, and they would be considered as part of the development of that industry strategy, which will take place as a matter of urgency over the coming months in collaboration and consultation with our industry’s stakeholders.”