Analysis: Arc refuses to blink in media rights furore - but the issues have not gone away

Arena Racing Company (Arc) and Flutter Entertainment have stepped back from the brink of full-scale hostilities but that does not mean the dispute between them is over.

The gambling industry giant, parent company of Paddy Power, Betfair and Sky Bet, is evidently unhappy with the media rights contract it signed with Arc and that is unlikely to change.

The issue between the two sides is very much one about media rights and not about the level of prize-money Arc offers, as much as some within British racing might hope otherwise, although transparency over where the money goes is a factor.