Following today’s meeting between the Minister for Sport Richard Caborn MP and Racing and Betting Industry representatives, BHB Chief Executive Greg Nichols said:

“We are very grateful to the Minister for organising today’s extremely constructive meeting and for his receptiveness and understanding of the key issues facing Racing.

“We were able to update DCMS on the extensive legal advice we have received regarding the commercial funding option recommended by the Future Funding of Racing Review Group, and also to demonstrate how the sport is making very good progress with plans to merge its governance and regulatory functions.

“We will be having further discussions with Government over the coming weeks and months as we work together to ensure that Racing has a secure funding mechanism from 2009 onwards. In the meantime, the sport will press on with its modernisation agenda, to which all sectors are committed.”