Commenting on Sheikh Mohamme?_x0019_s speech given at last nigh4_x0019_s Gimcrack Dinner, BHB Chief Executive Greg Nichols said today:
鈥淏ritish Racing has a responsibility to pay close attention to the thought-provoking address of Sheikh Mohammed, who is such an innovator and who has given so much to our sport. He articulates a number of the challenges we face which can only be resolved by co-operation and goodwill among all sectors of our highly interdependent industry.
鈥淎s he identified, much progress has been made by BHB in improving Racing鈥檚 financial position since his Gimcrack speech in 1997. For this commendation we are appreciative.
鈥淏ut it is also important that there should be agreement about how this additional financial prosperity is equitably shared. As we have said before, BHB鈥檚 Future Funding Plan provided just the sort of solution to which Sheikh Mohammed alluded.
鈥淭hat Plan proposed the division of Racing鈥檚 incremental income in agreed proportions. Adherence to the allocation formula, which was key to the Plan, of 40% prize money, 40% racecourses and 20% central expenditure would have enabled Racing to work together, free of the sectional in-fighting which has characterised the sport in recent months.
鈥淚t is vital, as Sheikh Mohammed stated, that prize money remains a key priority, not just to ensure a fair return for owners, whose contribution helps underpin the sport, but to provide essential income for other recipients of prize money 鈥� trainers, jockeys and stable staff.
鈥淪table staff are, of course, essential to Racing. They have so often been the unsung and undervalued heroes of the sport although BHB has always sought to take their interests into account in the Fixture List compilation process each year.
鈥淚n addition, BHB鈥檚 Stable Staff Resources Study Group has, in conjunction with the British Horseracing Training Board, the Racing Schools, trainers and others, put in place initiatives to improve recruitment and retention rates.
鈥淏ut we recognise that much remains to be done. The Racing Review Committee has spent a great deal of time on this area and it is envisaged that a number of recommendations will be announced in due course which will significantly increase the attractiveness of a career in Racing for many more people.鈥�
