Chairman's Blog: Members drive the entire owner cohort

"Arguably, non-members of the ROA contribute more to racing’s governance [the BHA] than members do.”

That was a comment from an ROA Board member at one of our recent meetings. It is a view shared by a number of owners that we have all met at race meetings and perhaps by others in the industry. But principally, this view put me in mind of the 19th century French economist, Frederic Bastiat. 

Bastiat, in an essay pithily titled That Which Can Be Seen and That Which Cannot Be Seen, described the difference between a bad economist and a good economist. The bad economist sees only that which is obvious (like not receiving a discount on BHA fees as a non-member of the ROA). The good economist sees the obvious, the first-round effect, and then identifies the second, third and so on effects. It is often these unseen actions which are important.

Let me explain. Members of the ROA do receive a discount, but we also pay the ROA membership fee that finances the efforts of the executive team, led by Louise Norman, to protect the  interests of all owners – not just ROA members – in the myriad committees and workgroups that make up the horseracing industry. Board members also work to defend owners’ interests, but we are all non-executive (i.e. unpaid) directors.

The next comment from many owners is: what have you done, then? The answer is plenty, but these efforts are quite often unseen and unappreciated. That is largely down to industry ‘sensitivities’ and historical reticence. But, as you know, we are under new management now, so here goes.

First, over the last 18 months, all owners have benefited directly from negotiations  between an ROA team led by Ken McGarrity and the trustees of the jockeys’ Professional Riders’ Insurance Scheme (PRIS). Many are unaware that the contribution rate to PRIS was reduced  from 13% prior to October 2024 to 1%. That agreement finishes on April 1 and an increase to a new rate will be announced then. Over the period the savings to owners has been circa £3 million.

We are now entering a new phase involving a wider review of jockey fees and insurance costs that will undoubtedly benefit owners further. 

Not one email or letter of thanks from non-ROA members has, to the best of my knowledge, been received by any Board member or ROA official. Maybe they didn’t notice the cost saving. 

Secondly, during the protracted negotiations with the former Chair of the  BHA, Lord Allen, various proposals were made about hiring new executives, including a Head of Commercial Activities, and (paid) independent non-executive directors. The ROA insisted that a) the new additions to the BHA be fully costed and b) that owners’ fees would not be affected in 2027 and 2028 (i.e. maintained at 2026 levels) to finance the transition. That was agreed. Another example of that which cannot be seen.

Thirdly, the ROA, along with the Thoroughbred Breeders’ Association, is the lead member organisation in the Owner Relations workstream, one of the key pillars in the BHA’s industry strategy. This looks to retain and grow the ownership audience by delivering enhanced experience-led activities for all owners. This is an important task, especially for existing owners,  alongside new and prospective owners who will see a more valued  experience from the beginning. 

Of course, there are member-specific benefits, which include third-party insurance coverage for freak accidents involving a member’s horse, racehorse sponsorship by the Tote that unlocks the ability to recover all racing-related VAT, Owner Breeder magazine, Racing Welfare for charitable support, Bid to Give activities and Racing Around The World events and tours including stable and stud visits.  

Meanwhile, non-members of the ROA are quick to criticise but silent on successes. They also do not seem to understand that Board members are often bound by confidentiality rules (as is the case with all company directors in every industry). They, among others, are happy to free ride on the work of the ROA and the protection it delivers.

So yes, non-ROA members pay more to the BHA (around £50 per year for their BHA fees and colours registration) but no, they are not benefiting the sport or all owners; quite the reverse. They take what’s going and contribute nothing to our efforts to streamline and improve the sport.

To all ROA members who do provide the wherewithal to a team that is working tirelessly for you – just remind the people you meet who are proud non-members that they benefit from what you provide. They are the free riders.