ROA STATEMENT ON ARC, PRIZE-MONEY AND GOVERNANCE

ROA STATEMENT ON ARC, PRIZE-MONEY AND GOVERNANCE

Dear Owner,

As I am sure many of you have read or heard over the course of the last few weeks that Arena Racing Company announced their latest prize-money investments for the 2022 season. The recent announcement marked a fantastic increase in investment of £4m extra on 2019, pre-pandemic levels.

However, as a result of the well-reported breakdown in talks over a new commercial agreement with Arena Racing Company, an additional £5m of prize-money investment was not unlocked. The additional investment relied on changes to the rules of racing permitting nine-race cards on the All-Weather between November 7 2021, and March 25 2022. The failure to reach an agreement on the additional investment came as a result of both the National Trainers Federation and Professional Jockeys Association not supporting the agreement.

The ROA would like to be clear with our members that your Board supported this agreement. Our priority is to represent the views and interests of our members who have, time and time again, made clear that prize-money levels are currently unacceptable and is the largest factor in owners leaving the sport.

We believe that new commercial agreements, such as the one proposed, that significantly improve prize-money levels in the UK are vital to the long-term future of our sport. Higher levels of prize-money both retain and attract owners, the lifeblood of racing. Prize-money helps our sport compete internationally. Prize-money is a real long-term driver of the success of our sport, and we will continue to work on as many routes as possible to improve prize money and create more equitable distribution.

The failure to reach an agreement on such a vital and potentially transformative deal for the sport is a huge disappointment and yet again will leave all participants – owners, trainers, jockeys, stable staff – with less potential earnings.

It cannot be ignored that the inability to reach a progressive outcome that worked in the interests of racing and a majority of its participants derives from the sport’s structure and governance. We have to find a way forward for our sport that supports progress and professionalism. We will, as we already have with our own governance, continue to work on ways to reform the sport so that it works for all those that invest in the industry.

Prize-money and governance will remain top priorities for the ROA, and we would like to thank all the racecourses and industry stakeholders who continue to see these as important to the long-term future of the sport and work alongside us.

Yours,

Charlie Liverton
Chief Executive
Racehorse Owners Association