Horserace Betting Levy Board

Management Accounts to 28^th February 2019
The Board noted the management accounts to 28^th February 2019.

Equine Influenza Outbreak: Financial Impact
The Board noted the estimated financial impact of the Equine Influenza outbreak in February 2019.

Expenditure 2019
The Board agreed additional funding of £2.8m for Raceday Services Grants to racecourses in 2019. The Board also agreed an additional £6.5m to prize money in 2019 and that an appropriate clawback mechanism would be implemented if racing’s media rights income declined by less than anticipated in the coming year.

Capital Credit Allocations: April to June 2019
The Board approved:

1. The Raceday Services transfers to Capital Credits of £456,089 for the period 1st April to 30th June 2019.
2. The Prize Money transfers to Capital Credits of £1,447,258 for the period 1st April to 30th June 2019.
3. The Fixture Incentive Fund transfers to Capital Credits of £30,000 for the period 1st April to 30th June 2019.
4. Transfers to Capital Credits of additional requests made subsequently by racecourses for specified prize money-related grants yet to be awarded but which are allocated at a later date for the period 1st April 2019 to 30th June 2019. These include Lower RIF, Appearance Money and Divided Races payments.

Capital Credit Applications: Catterick and Leicester
The Board approved

1. Catterick racecourse’s request to appoint Moodys as contractor on its proposed scheme to construct a new stand for Owners and Trainers without running a formal tender process.
2. A Capital Credit Grant to Leicester racecourse of £35,115 towards a horse walk, shower block, raceday bars, cellar, and storage container.