Following a meeting of the Board yesterday, BHB Chairman Martin Broughton said:
鈥淭he Board unanimously decided at the meeting not to seek to appeal to the House of Lords against last week鈥檚 Court of Appeal decision, and agreed that a line should now be drawn under the case.
鈥淎s far as BHB鈥檚 existing commercial contracts are concerned, the Board continues to be advised that these are valid and enforceable. There is no change to that position.
鈥淐oncern has been expressed in some quarters about BHB鈥檚 financial position in the light of the Court of Appeal Judgement. However, the Board has always been of the view that the position was strong and secure, and this was reaffirmed yesterday. Indeed, it is significantly better than the worst-case scenario to which the Board has responsibly worked since the ECJ Judgement last November, when immediate, prudent steps were taken to contain expenditure. BHB will continue to operate effectively as the sport鈥檚 governing authority.
鈥淲e look forward to continuing to work with Lord Donoughue鈥檚 Future Funding of Racing Review Group, whose work of paramount importance now has a greater urgency than ever.
鈥淥ver the coming weeks, the Board and its advisers will be reviewing future strategy with a view to instilling further certainty, as quickly as possible, for the benefit of the sport.鈥�
