The board of the British Horseracing Authority (BHA) has taken measures to stand down almost 80% of its staff to cut costs to the racing industry by up to £1 million a month during the COVID-19 pandemic.
Those employees being stood down will be able to draw on the government's Coronavirus Job Retention Scheme while the remaining staff continue to work on a plan for the resumption of racing at the earliest date possible. The current shutdown, which was announced on March 18, is set to run until the end of April.
The emergency financial plan announced by the BHA on Friday afternoon following Wednesday's meeting of the board includes:
- More than 200 of the BHA's 260 staff will stop work. Most of these are race-day officials, but staff from 75 High Holborn, including GBR and GBRI, are also affected.
- Salary reductions for all BHA staff. These apply equally to those working or not working and will also be kept under review. Board salaries are also reduced.
- A programme of cost savings linked to a reduction in the normal activity supporting and administering racing. The BHA is in discussion with suppliers.
- Most projects have been paused, including the consultation on use of the whip which was announced yesterday.
- In addition, the BHA announced earlier this week that entry fees have been refunded and other fees to participants dropped where possible
- In total, the financial plan should save nearly £1m a month, representing a third of the BHA's normal monthly budget.
“Our Board considered a range of options for how to maintain the most appropriate team that would allow us to carry out our role in the industry's crisis response,” said BHA Chair Annamarie Phelps. “That includes the urgent financial work we are doing alongside industry colleagues, engaging effectively with government and making sure we have the right plan and the right resources in place to start racing again when we can. In particular, whilst the current suspension is to the end of April, we will ensure that racing is ready to resume from May 1 onwards, if it proves possible to do so.
“The Board (which includes appointed members from the racecourses, owners and licensed personnel alongside independent directors) was briefed on the impact of this crisis across the whole industry and took this into account in its decision-making. We were unanimous that the package of options agreed was the right way forward at this time.
“My message to all our staff is that I'm incredibly proud of the work you have been doing to support the industry. It will be a blow, I know, to those standing down from next week and unable to work. You want to be doing your best, as ever, for the sport you love. I hope you will look after yourself and your families and be ready to come back to work when that is possible. For those who will continue to work, I know you will keep giving all you can to get us through this crisis.”
The majority of staff continuing to work are focused primarily on the crisis response while those who have been stood down have been informed that the measures will be kept under constant review.
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