Martin Stevenson named new chief executive of Racecourse Media Group

Martin Stevenson has been confirmed as chief executive of Racecourse Media Group (RMG), succeeding Richard FitzGerald, who left the post in September.

Stevenson had been acting chief executive of RMG, the umbrella organisation which looks after the media interests of the 34 racecourses which hold an interest in Racing TV, since FitzGerald's departure.

A qualified accountant, Stevenson first joined RMG as finance director in 2007. He said he was "excited and honoured" to take up the position of chief executive.

Stevenson added: "RMG has been a phenomenal success story since its inception as Racing UK back in 2004, having posted year-on-year increases in licence fees payable to its racecourse shareholders nearly every year of trading. It shows what can be achieved via a collective approach to commercialising our racecourses' media and data rights."

Roger Lewis: 'Martin's vision for RMG is bold and imaginative'Credit: Huw John, Cardiff

RMG chairman Roger Lewis said the organisation's board had voted unanimously for Stevenson's appointment after an "extensive and rigorous recruitment process".

"Martin's vision for RMG is bold and imaginative," Lewis added. "His relationship with our shareholder racecourses is very special and Martin is passionate that RMG can, and will, deliver the best returns for racing."

In 2019 the racecourses represented by RMG, which include Ayr, Goodwood, Newbury, York and those under the Jockey Club banner, earned £106.7 million in media and data rights payments. However, the group last year warned it would be "significantly affected" by the Covid-19 pandemic.

RMG's income derives from a number of sources, including betting shop media rights, streaming on bookmaker websites, Racing TV, the terrestrial deal with ITV, international rights and the licensing of pre-race data.

Lewis added: "The RMG business model has been severely tested during the last 12 months, but it has demonstrated great resilience, providing vital media rights income for our racecourses.

"This has been achieved due to the extraordinary efforts of our racecourses who have brilliantly kept horseracing running. We are proud to serve them.

"We are now slowly emerging out of the pandemic and Martin is undoubtedly the right person to lead RMG into its next phase of growth over the coming years."

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