The home of intelligent horse racing discussion
The home of intelligent horse racing discussion

Levy settlement, fixture list

Home Forums Horse Racing Levy settlement, fixture list

Viewing 12 posts - 1 through 12 (of 12 total)
  • Author
    Posts
  • #20107
    jose1993
    Member
    • Total Posts 1228

    http://www.racingpost.com/news/horse-ra … ne/940575/

    I’m unsure as to if another embarrassing BHA fixture list climbdown should be greeted with derision or just treated as entirely expected. Anything the BHA says you can seemingly bet your life that something different will happen.

    One thing stands-out regarding the Levy – for all of last years bluster, including the Racing United campaign, Paul Roy’s letters to the Racing Post, racing has certainly understood (for now) the government’s position on this issue.

    #375288
    CrustyPatch
    Participant
    • Total Posts 916

    I presume that, if there are to be only 30 fewer fixtures next year, this will mean that Ffos Las boss Dai Walters will not have to carry out his threat to close the Welsh course.
    He had been threatening to close the course if he were not guaranteed a minimum number of fixtures. If only 30 fixtures are to be lost across the country, far fewer than was at first feared, presumably an acceptable number of fixtures will have been allocated to Ffos Las.
    I certainly hope so. Having visited the course for the first time in August, it would be very sad if the new course went the way of Great Leighs.
    Sounds like brinkmanship may have been the name of the game for not just Ffos Las but some of the other key players in this unseemly saga.

    #375296
    PurwellPurwell
    Participant
    • Total Posts 654

    Nick Rust, Ladbrokes managing director for channels, who was involved in negotiations, said: "This is a sensible compromise that offers progress to both racing and bookmakers.

    What on Earth is a "managing director of channels"?

    #375374
    paulostermeyerpaulostermeyer
    Participant
    • Total Posts 4607

    Hopefully this will be the final time we have to have the discredited Levy.

    Here is the BHA response


    "There are positive elements to the 51st Levy Scheme, but it is disappointing overall and deeply frustrating that its terms can be imposed on Racing by the Bookmakers’ Committee and Independent Members of the Levy Board.

    "The three Racing representatives made clear that they could not support a target yield outside the range of £73.7m to £80.8m for the 50th Scheme set by the Secretary of State just back in February. There is no justification for a figure lower than this range.

    "The sport does have a degree of certainty moving forward, and can immediately finalise the 2012 Fixture List, but our return from the betting industry remains far lower than our commercial value, and the Levy remains unreflective of the modern betting environment. Offshore operators and the failure to address betting exchanges’ different business model are still costing Racing vital revenues.

    "This year’s last-minute discussions have again laid bare the imperfect and out-dated processes within the Levy mechanism. No-one involved in our sport should be in any doubt of the need to radically overhaul or replace the Levy: Racing’s future should be determined by direct, commercial negotiation with the betting industry on the principle of a willing buyer and willing seller.

    "We are in detailed discussions with Government and the betting industry around the introduction of modern, fair, enforceable and sustainable arrangements and this work must progress with urgency."

    The BHA, at the end of the day has minimal control over the fixture list, another example as to why racing needs restructuring.

    A fixture list greater than 1,000 is untenable in the current economic climate.

    #375425
    cormack15cormack15
    Keymaster
    • Total Posts 8783

    Ladbrokes are keen to keep the government out of it. I’d say that government action is key to long-term resolution as it’s only through revisions to legislation that the bookmaker’s grip on UK racing can be loosened.

    Statement from Ladrokes –

    Nick Rust, Ladbrokes Managing Director, Channels commented:

    "This is a sensible compromise that offers progress to both racing and bookmakers. Racing gets a Levy increase and a guaranteed underpin on funding, Bookmakers get more cooperation on fixtures. We now need to start work immediately on a long term settlement that builds on this progress and takes Government out of the process for good."

    #375430
    Irish Stamp
    Member
    • Total Posts 3185

    The government have far more important things to worry about that arguing between one group (bookmakers) who are trying to give as little as possible and another (BHA) who are plucking random figures and hoping for the best.

    A new way of determining the levy would be a better idea – using bookies profits, racecourse profits etc. and calculating that way.

    #375449
    cormack15cormack15
    Keymaster
    • Total Posts 8783

    The government should be acting to protect the long term future of what is a HUGE industry in this country. This, unlike the whip-in-a-teacup debate, IS something worthy of legislative intervention by PROPER government.

    #375462
    cormack15cormack15
    Keymaster
    • Total Posts 8783

    Full BHA statement on Levy –

    British Horseracing Authority Reaction to the 51st Levy Scheme Agreement

    Statement from the Chairman of the British Horseracing Authority, Paul Roy:
    "There are positive elements to the 51st Levy Scheme, but it is disappointing overall and deeply frustrating that its terms can be imposed on Racing by the Bookmakers’ Committee and Independent Members of the Levy Board.
    "The three Racing representatives made clear that they could not support a target yield outside the range of £73.7m to £80.8m for the 50th Scheme set by the Secretary of State just back in February. There is no justification for a figure lower than this range.
    "The sport does have a degree of certainty moving forward, and can immediately finalise the 2012 Fixture List, but our return from the betting industry remains far lower than our commercial value, and the Levy remains unreflective of the modern betting environment. Offshore operators and the failure to address betting exchanges’ different business model are still costing Racing vital revenues.
    "This year’s last-minute discussions have again laid bare the imperfect and out-dated processes within the Levy mechanism. No-one involved in our sport should be in any doubt of the need to radically overhaul or replace the Levy: Racing’s future should be determined by direct, commercial negotiation with the betting industry on the principle of a willing buyer and willing seller.
    "We are in detailed discussions with Government and the betting industry around the introduction of modern, fair, enforceable and sustainable arrangements and this work must progress with urgency."

    #375472
    paulostermeyerpaulostermeyer
    Participant
    • Total Posts 4607

    Deleted – posted in error

    #375498
    SteeplechasingSteeplechasing
    Participant
    • Total Posts 5767

    A large scoopful of racing’s current woes lies with the BHA’s insistence that someone (in this case, bookmakers) owes them a living.

    Stripped down, their basic case is, ‘Bookies make money from betting on racing and they should write us a cheque for about £130m a year minimum because, (that’s not so much what we reckon it’s worth), it’s what racing

    needs

    .

    The BHA want a transaction between ‘willing buyer and willing seller’ and to my knowledge the bookmakers have no problem with that. They’ll happily agree a contract on those grounds – it’s a commercial contract.

    But the BHA is not happy with the terms of a normal commercial contract, it seeks government intervention to enforce a minimum payment. How many businesses would love to have that privilege in their commercial contracts?

    If the BHA is as confident as it seems to be about the value of racing as a betting product, let them enter normal business negotiations with the buyers, bookmakers.

    Never argue with a fool. He will drag you down to his level and beat you with experience, then onlookers might not be able to tell the difference. https://lazybet.com/

    #375511
    paulostermeyerpaulostermeyer
    Participant
    • Total Posts 4607

    A large scoopful of racing’s current woes lies with the BHA’s insistence that someone (in this case, bookmakers) owes them a living.

    Stripped down, their basic case is, ‘Bookies make money from betting on racing and they should write us a cheque for about £130m a year minimum because, (that’s not so much what we reckon it’s worth), it’s what racing

    needs

    .

    The BHA want a transaction between ‘willing buyer and willing seller’ and to my knowledge the bookmakers have no problem with that. They’ll happily agree a contract on those grounds – it’s a commercial contract.

    But the BHA is not happy with the terms of a normal commercial contract, it seeks government intervention to enforce a minimum payment. How many businesses would love to have that privilege in their commercial contracts?

    If the BHA is as confident as it seems to be about the value of racing as a betting product, let them enter normal business negotiations with the buyers, bookmakers.

    Another excellent post Joe – I think I will just post "ditto" under your posts.

    The trouble is any negotiations between the BHA and bookmakers will be doomed to failure.

    The BHA have neither the nous or wherewithal to negotiate with the bookmakers, who employ some of the sharpest suits in the business.

    Chris Brand was the last BHA Finance Director and his previous role was Head of Finance and Business for Radio4 and BBC7 – that is really useful.

    Ideally the BHA should recruit their next Finance director from one of the top bookmakers – but would they be prepared to pay that much.

    I hate to say it but you get what you pay for.

    #375518
    SteeplechasingSteeplechasing
    Participant
    • Total Posts 5767

    Thanks for your kind comments Paul

    Never argue with a fool. He will drag you down to his level and beat you with experience, then onlookers might not be able to tell the difference. https://lazybet.com/

Viewing 12 posts - 1 through 12 (of 12 total)
  • You must be logged in to reply to this topic.