SBC News HBLB gives £3.2m boost to UK racing

HBLB gives £3.2m boost to UK racing

The Horserace Betting Levy Board (HBLB) has offered a £3.2 million boost to UK racing in the form of immediate and short-term funding.

The Board has agreed to fund £1.46m of one-off costs incurred by racecourses which will be used to ‘meet regulatory standards and guidance for hosting fixtures in the current environment’.

This will be limited to £75,000 per course, meaning that 34 of the 40 racecourses with costs to date will be funded in full.

Paul Darling, HBLB Chairman commented: “The Board has acted once again in an agile way to consider and agree new proposals from Racing and we are pleased to be able to offer another £3.2m of support, now, when it is needed.

“We will consider further requests at our next formal Board meeting in September. As always, these will be judged against the context of HBLB reserves and cash flow and how we optimise our support for the sport and industry.”

HBLB also pointed out that there was further potential for other remaining racecourses to incur similar costs in the near future. The Levy Board stated that it was ‘mindful of this in making overall provision for that possibility’.

In addition, £1.5 million will be directed towards PPE and face coverings used on race days which was agreed alongside the British Horseracing Authority (BHA).

Meanwhile, HBLB has provided £259,000 in additional funding for the month of September to cover potential divided races. Similar funding for races taking place from October to December is due to be considered at the Board’s next meeting in September.

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