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Racing Articles/Notes
6. New Levy Deal In Place
Levy board members added a fresh chapter to the
history of British horse racing's major source of
funding on Tuesday, when agreeing the terms of the
2010-11 levy scheme six months ahead of the deadline,
and 11 months before its implementation.
The Bookmakers’ Committee’s recommendation for a
rollover of the current terms – ten per cent of
betting operators’ gross profits on UK horseracing –
with retail price index adjustment on threshold
payments was approved for one year.
Apart from the direct levy details, a number of other
issues were addressed, which enabled the board to
reach an agreement that comfortably avoids the
prospect of a last-minute scramble to reach a deal
before the absolute deadline of midnight on October
31.
The board agreed to call on the government to act
robustly on the contentious matter of offshore betting
operators, who pay nothing to British racing under the
statutory system.
There will be a revised levy process, in which racing,
instead of the Bookmakers’ Committee, will initiate
discussions by presenting proposals in the spring of
each year.
The board has also agreed a long-term plan for the
Bookmakers’ Committee and racing to work together “on
a range of issues of mutual interest”.
Chris Bell, the Ladbrokes' director who chairs the
Bookmakers' Committee, said: “Although we now have
stability for nearly two years, it would be useful for
racing to accept a three- or five-year deal, so that
we can get on with the growing the business from UK
horseracing.
"It’s time for something more specific than words.”
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