[close]

British Bloodstock Industry Under Review

The British Horseracing Authority has launched a review of the bloodstock industry and bloodstock sale practices.

British Bloodstock Industry Under Review

The British Horseracing Authority has launched a review of the bloodstock industry and bloodstock sale practices.

BHA chief executive Nick Rust has flagged a revision of the industry code of practice in response to concerns about unsatisfactory practices and evidence of potential criminal wrongdoing in relation to the buying and selling of thoroughbreds.

Allegations of secret payments, bribes, kickbacks and collusion continue to plague the industry despite a spirited defence of sale ring ethics by leading auction houses Tattersalls and Goffs.


The Racing Post reported that Rust has written a letter to industry stakeholders expressing the BHA concern.

"The BHA board has prioritised a review of the buying and selling of bloodstock and racehorses within British racing,” Rust stated in his letter.

"We are concerned about evidence of unsatisfactory experiences for owners and prospective owners, who are one of the two major sources of funding within our sport.”

A BHA statement issued this week said: "It is agreed among the sport’s leaders that if racing is to grow we need to ensure openness, transparency and fair dealing is at the heart of all we do or we may risk turning away existing and potential investors into the sport.

“The ownership and purchasing process is no exception to this.

"We believe the majority of individuals involved in the buying or selling of horses will be operating within the bounds of the code of conduct.

“However the BHA has received some concerns that there may be a small minority who are not."

“It is the right time for the sport to engage in a conversation about its sales practices (whether through sales houses or privately) and consider whether there needs to be any change to the regulatory landscape to ensure fair and transparent practices in this area.”

The Federation of Bloodstock Agents that worked with the BHA to formulate the code of practice 14 years ago, issued a statement supporting the BHA review.

It stated: "The FBA fully supports and is actively co-operating with the BHA in their review of the bloodstock industry, to determine whether there is currently an integrity issue involved in the buying or selling of horses, be it real or perceived.”


Racing Post



Check out the latest Singapore News


Latest Stories