Concerns raised over Premier racing launch as it emerges key project has no dedicated marketing budget

British racing has so far allocated no additional funding to promote the launch of the sport's much-heralded Premier racedays, prompting one expert to criticise industry leaders and their approval of a "hopelessly inadequate" marketing budget.

The inaugural Premier meeting is due to be staged at Cheltenham on New Year's Day, but the anticipated fanfare and fireworks may be missing in the build-up and on the day itself, an outcome agreed by the sport's commercial committee but one that Rod Street, chief executive of the sport's marketing wing Great British Racing, admitted was unsatisfactory.

In another unexpected development, it has emerged some senior racecourse figures are already sceptical that Premier racing will succeed in strengthening or extending the sport's popular appeal, further tempering their willingness to spend money on promotion.