I still feel our British govt is turning a blind, or lazy, eye to the lost income from offshore havens for an industry happy to gorge itself on an expensive product, while returning only a tip and a burp in exchange for the meal.
Nicely put.
I still feel our British govt is turning a blind, or lazy, eye to the lost income from offshore havens for an industry happy to gorge itself on an expensive product, while returning only a tip and a burp in exchange for the meal.
How ? seeing as the vast majority of them regardless of their parentage are shite.I never said shoot them, I said stop making them
Media rights
Arena licenses the right to use the media content of racing from its racecourses through two main channels: to LBOs in the UK and Ireland; and internationally, online and via non-terrestrial TV through ATR. Revenue from these rights amounted to £13.6m (2009: £13.0m) and represents 21.3% of total revenue (2009: 19.9%).
The Group has secured 353 scheduled fixtures for 2011 and we have a reasonable expectation that we will be able to secure a similar fixture list for 2012 and beyond. Each of these fixtures will generate income from the LBO market which, from 1 January 2012, will arise pursuant to a new five-year contract with SIS. The Board has estimated that this new contract will have a total value of £106m over its term, which compares to the current five-year contract that will have delivered an estimated £55.6m of income to Arena between 2007 and 2011. Advanced payments of £12.5m were received by Arena on both 22 July 2009 and 22 July 2010. A third payment of £7.0m is due on 22 July 2011. The balance of the estimated revenue is due over the five-year term and is linked to the number of races run at Arena’s racecourses.
Furious Ffos Las owner threatens to close course
By Howard Wright 8:58AM 29 AUG 2011
FFOS LAS, Britain's newest racecourse, will be closed and one of the biggest individual jumping strings dispersed if the track is denied nearly half its fixtures in 2012, as is envisaged under current negotiations on nextyear's calendar.
The dire consequences emerged on Sunday in a serious warning from Ffos Las founder, inspiration and chairman Dai Walters, whose business plan for the course faces being torn to shreds.
Ffos Las, which opened in June 2009 as Wales's first new racecourse for 80 years, is scheduled to stage 29 fixtures this year - 16 granted under the BHA's ‘new racecourse' policy, 12 BHA-owned leasehold fixtures that were acquired through a prize-money bidding process, and one that is self-funded.
However, for next year the BHA has refused to put up the majority of its own fixtures for auction and has decided on applying a cap of 1,400 meetings, which means a cut of at least 80.
Dai Walters with Oscar Whisky, one of 50 horses he owns
PICTURE: John Grossick
The result is that Ffos Las would retain 16 ‘new racecourse' fixtures but lose 12 that were obtained through a competitive bidding process.
Walters said: "It's a very disturbing situation. I'm passionate about Ffos Las, but I'm a businessman and can't run it at a loss. If they leave us with 16 fixtures it would ruin our business plan and we'll lose the racecourse.
"I don't make money out of the business, but I'mcertainly not going to lose money on it. I'll be very annoyed if we do lose these fixtures."
Walters added: "I realise that fixtures may have to be cut because levy income has been halved since we did our original business plan, but we've delivered everything everyone asked of us - an excellent track and facilities, way above many others in health and safety terms, and prize-money that's never been below the Horsemen's Group tariff.
"I'm not asking for money. I just want the fixtures. I can accept a drop of one or two, but not a dozen. It would be very unfair. The answer is common sense."
Walters said he believed that losing the racecourse, as well as hitting the racing industry, would be "one of the biggest blows to tourism in Wales".
He added: "We had a crowd of 7,500 last Friday, with nearly 1,000 in the hospitality areas. The recession inIreland has meant we haven’t had as much traffic from there as we had hoped, but we still get Irish visitors and the support locally has been very big.
“I know we’ve been good for business in the area because people keep coming up to me and saying so.”
Walters, who has 50 horses in training, spread among a dozen stables, had a further warning.
“I will definitely close the track if they cut me back to 16 fixtures,” he said, “but I will also never own another horse in my life, so there’ll be a big knock-on effect.”