Racing Relief Fund worth £2.5MILLION to be set up to protect racehorses who could be at risk if owners are unable to support them in coronavirus lockdown
- The fund is part of a £22m cash flow and hardship funding package for racing
- Retraining of racehorses will see them work alongside the Horse Welfare Board
- The £22m package also includes £13.5m of support and loans for racecourses
- Learn more about how to help people impacted by COVID
A Racing Relief Fund worth £2.5million is being set up to protect the welfare needs of racehorses who may be at risk if owners become unable to support them because of the COVID-19 shutdown.
The fund, co-ordinated by the Racehorse Owners Association, is part of a £22m cash flow and hardship funding package for racing announced on Friday from the Levy Board and The Racing Foundation.
The industry’s charity, Retraining of Racehorses, will work alongside the Horse Welfare Board to ensure that the welfare needs of horses are met.
A Racing Relief Fund worth £2.5million is being set up to protect racehorses’ welfare
The £22m package also includes £13.5m of support and loans for racecourses, plus support for self-employed jockeys, valets and agents unable to earn a wage with the cancellation of racing as well as racing charities.
Paul Darling, Chairman of Levy Board, said: ‘This is a substantial undertaking by the Levy Board in conjunction with the Racing Foundation.
‘The Board has agreed to make available significant sums to racecourses through a combination of measures that will meet the demand for cash in the short-term.
‘Importantly, this approach preserves further Levy funds that we know will be needed for prize money when racing resumes. It is certain that the Levy Board will have a major role at that stage and beyond.
The fund, co-ordinated by the Racehorse Owners Association, is part of a £22m cash flow
‘Negotiating the many challenges ahead of us all will require exceptional co-operation between every sector. Those challenges can only be met if British racing and the betting industry work in partnership and the Levy Board will play a full and active part in ensuring that this happens.’
Ian Barlow, Chairman of the Racing Foundation, added: ‘The Trustees of the Foundation agreed that during this exceptional time the organisation should not be bound by its normal endowment rules and be prepared to bring forward future years’ expenditure, while utilising some of its capital, to support the emerging needs of the sport.
‘The funding requests we have received are varied and we want to take an approach which can help alleviate the immediate hardship being felt by the sport’s people, horses, businesses and charities.’