The record-breaking media deal agreed up in June 2001 by the majority of Great Britain's racecourses and broadcaster attheraces has collapsed.A clause that guaranteed 20% profitability on Tote pool betting has triggered renegotiations, which probably means the 49 racecourses involved are receiving far less than the previously agreed £307 million over 10 years.The British Tote reduced the takeout from bets last year in order to be more competitive. That means pool betting profitability for the attheraces racing and betting channel fell below 20%.The fact the contract can now be renegotiated is a relief to attheraces, Arena Leisure, Sky, and Channel 4 as sports rights have become less valuable but racecourses wait anxiously to see how much their projected earnings, on which they have based future expenditure, will fall.The Racecourse Association, trade body for the country's 59 tracks, has taken on PricewaterhouseCoopers to advise and participate in the new negotiations.
A Gainsborough Stud-bred Indian Ridge colt out a half-sister to Breeders&#8217; Cup Sprint (gr. I) winner Lit de Justice brought 25,000 guineas (about $54,000) to top part four of the Tattersalls October yearling sale.
The &quot;Racing Post,&quot; Great Britain's daily racing paper, has been bought as expected by an Irish private equity investment firm, but the price of &#163;170 million ($340 million) is less than owner Trinity Mirror had hoped for.
Television coverage of racing in Great Britain seems safeguarded for at least the next two years following the announcement that Channel 4 is in exclusive negotiations about sponsorship with Dubai Holding.