As part of the new tranche of support from the Department of Digital, Culture, Media and Sport (DCMS), horse racing will receive a much-needed financial boost.
Horse racing will gain £21 million in loans from the DCMS’ new round of sports grants, which has been pledged to the Horse Betting Levy Board (HBLB).
Helping industry recovery
This funding would enable the Levy Board to continue to help the industry’s recovery from the financial impacts of the COVID-19 pandemic by ensuring critical race day credibility expenses and associated health and safety expenditures.
The British Horseracing Authority’s (BHA) Chief Executive, Julie Harrington, said: “We are extremely grateful to officials at Sport England, DCMS and the Treasury for their support in agreeing this funding to racing.
“We are grateful also to the Horserace Betting Levy Board for agreeing to our proposal and borrowing this money to support the central funding of racing. This money will help ensure racing continues behind closed doors despite the absence of spectator revenues.
“This will benefit our racecourses, our participants and their communities, and the vital role racing plays as an employer and contributor to the rural economy.”