BHA raise participants' fees by eight per cent to help pay for strategy work
The BHA board has agreed an eight per cent rise in the fees paid to the governing body by participants, saying the increase reflected the extra work required in creating a long-term industry strategy for the sport.
The increase compares to a 2.5 per cent rise this year, while fees were frozen in 2021 due to the impact of the Covid-19 pandemic.
However, the BHA said the increase was the third consecutive below-inflation rise it had made and that over six years the cumulative increase in fees of 19.5 per cent was less than the inflation rate over the period of 24.8 per cent.
More than 60 per cent of the BHA's income comes from fees paid by racecourses, with nearly 25 per cent coming from owners. For a sole owner with a horse that has ten entries in a year, fees will rise by £34.04 for the year as a result of the increase.
The BHA said in a statement: "While this is a below-inflation increase – for the third consecutive year – we recognise that fee rises are never desirable, especially given the challenging economic environment.
"However, this is necessary to ensure that we have the resources to deliver our services, while continually striving to deliver value for money for those paying the fees."
British racing's leadership last month approved a restructure of the sport's governance, with the BHA heading the development and co-ordination of a new industry strategy.
The BHA said: "Next year’s fees have therefore been set not only to support the BHA’s normal business functions but also to reflect the extra work involved in creating this long-term strategy, which will seek to grow our sport and secure its long-term future.
"The objectives of the strategy include growing revenues and investment, with the aim that this makes its way back to our participants through prize-money.
"Many of the areas we are investing in are as a result of direct feedback from stakeholders through strategic planning discussions, including around data and insight, programme management and new raceday structures, together with wider business transformation projects."
This summer the BHA revealed it would be leaving its offices at 75 High Holborn in London next year and would be "significantly downsizing" in an attempt to make savings.
The BHA statement added: "We will, as always, continue to identify additional areas for savings, where we can make further changes to minimise costs for participants without compromising the service provided throughout 2023."
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