The 107th annual general meeting of the Thoroughbred Breeders' Association (TBA), held on Tuesday, Aug. 13, saw members and trustees gather at Newbury racecourse to discuss the ongoing challenges in British racing's future.
Philip Newton, chairman of the association, reiterated that evidence-based strategy as well as incentives and intervention were working, and that the methods were the way forward for a sustainable future. Newton took time to highlight the positive impact of both the Elite Mares' Scheme as well as the Great British Bonus (GBB) Scheme. The latter has paid out over £16-million in bonuses to owners, winning connections, and breeders in the last four years since its launch in 2020, and there has been a 16.3% increase in the median price of a GBB-eligible filly at sales.
“We believe that additional money needs to be set aside to reward breeders and owners that adopt policies and behaviours that deliver and influence positive change and participation for the whole health of the sport.”
There was frustration, however, as Newton discussed the effect of self-interests within the industry with different and more immediate agendas; ones he claimed were slowing down progression. There was also conversation on the need for transformative change to racing's finances, which Newton described the current state as a 'plan to fail'.
“To rely upon the structure and funding model that has existed since 1962, and with media rights from 1986, is to plan to fail and I am not being dramatic or overstating the potential crisis that we are facing.”
The TBA is currently exploring opportunities that different audiences and markets can provide the racing product, and Phase two of the project is due to begin shortly with a report expected at the end of the year. One key area is equine welfare, with the association calling for clear action to deliver a structure, strategy, and funding solution beyond talk and good intentions.
“We have the foundations of a structure with RoR [Retraining of Racehorses] to deliver aftercare, we have the HWB [Horse Welfare Board] to set the strategies and police delivery. We urgently need a funding proposal, and I am grateful to my Deputy Chair Kate Sigsworth, who has taken this responsibility on, and is close to a proposal that already has much industry stakeholder support,” Newton commented.
Tribute was also paid in regard to the passing of Paul Darling last week. Darling was the chairman of the Horse Race Betting Levy Board and a noted supporter of the Great British Bonus. The meeting's official matters of business also included the extension of Newton's term of office to 2027 to ensure a full term as chair and the appointment of two new elected trustees in Joe Callan and Jan Hopper. Kate Sigsworth was also confirmed as re-elected for a second term as deputy chair while Colin Bryce stepped down after four years as a trustee.
A full summary of the meeting minutes is available here.
The 2023 annual report was formally launched and may be found here on the TBA website.
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