Sales were put in the spotlight by allegations of bribery and intimidation

A major review into the practices at bloodstock auctions was launched in 2017 after the BHA received evidence of potential criminal wrongdoing alongside concerns which dated back as far as 2014.

While acknowledging its place as a racing, rather than bloodstock, regulator meant any findings would be framed in that context, the BHA felt compelled to investigate due to worries that owners and prospective owners were having "unsatisfactory experiences" and the potential future risk to individuals having the confidence to invest in British horseracing.

The review was not universally welcomed and a number of figures questioned the real extent of the concerns, with bloodstock agent John Ferguson stating his belief that the industry was "99 per cent honest" and that the matters were being overblown.

Philip Freedman, chairman of the Horsemen’s Group, was among those chastising the BHA for poking its nose in while, in his view, not handling matters under its direct jurisdiction adequately enough.

However, these views were not endorsed elsewhere, with Philippa Cooper, of prominent consignor Normandie Stud and Bryan Mayoh, a board member of the Thoroughbred Breeders’ Association and breeder of Sizing John, highlighting what they felt was unscrupulous activity involved in the buying and selling of horses.

The spotlight fell on three main areas: the payment of ‘luck money’ by vendors to purchasers, and the possible risk to future business if it was not paid, vendors and agents conspiring to artificially inflate the price of a horse above a pre-agreed amount and then splitting the difference between them, and ‘running up’ where a vendor bids against a buyer, usually without their knowledge, to obtain a higher value for their horse.

Cooper told the Racing Post in 2017: “I feel, personally, I'm in an unsafe environment at the sales. They have a code of practice but it is broken and not policed.”

A review team, headed up by former senior police officer Justin Felice, was established by the BHA and interviewed approximately 60 individuals about practices in the industry and possible changes, with those interviewed including sector experts and those who directly contacted the BHA following coverage of the allegations.

Having initially anticipated the review to conclude in summer 2018, the process took nearly a year longer with a meeting between key industry stakeholders to discuss the findings not taking place until this month.

Representatives of the BHA, Goffs, Tattersalls, the Racehorse Owners Association, National Trainers Federation, Federation of Bloodstock Agents and Thoroughbred Breeders' Association met in Newmarket last Thursday to discuss the draft review findings and, according to a BHA statement, “agreed a general direction for the implementation of the draft recommendations” as well as agreeing to meet again next month for further consultations.

Nick Rust, BHA chief executive, had spoken publicly about his fears of a backlash over the review prior to the meeting, but following the discussions last week Oliver St Lawrence, chairman of the FBA, said: "It was a very constructive meeting. We've agreed we'll meet again in September and there were lots of positive things.

"There are some positive steps we can take to help tighten up the buying and selling of horses and the misperceptions that have been generated over the years. We agreed on most things and had a fair-and-frank discussion."

With the Bloodstock Review highlighting several areas of potential concern for the bloodstock industry and recommendations for its future, the next meeting is likely to once again be frank on all sides.

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