Connections of Guineas dark horse warn prestige of British racing won't be enough to stop overseas exodus

The connections of Qipco 2,000 Guineas dark horse Iberian have warned the prestige of British racing will not be enough to prevent owners having their horses trained abroad in the near future.

Richard Ryan, who oversees Jim Cockburn's Teme Valley operation, which owns the Charlie Hills-trained Iberian with Ballylinch Stud, is excited about the colt's prospects for the months ahead, but has stressed the sport in Britain cannot rely purely on its historical standing.

He was speaking after Racing Post analysis revealed betting turnover on horseracing fell by the equivalent of £1.75 billion in the last financial year, which will have a knock-on effect on the sport's funding and in turn, limit the return to owners in prize-money.