• BHA faces hefty shortfall despite increases in their fees
• So Beloved disqualified after bute found in horse’s systemRacing’s ruling body has had many better days than Thursday,when it admitted that its finances were in worse shape than had been hoped and then had to correct a mistake by one of its officials who misread a photo-finish. The deplorable news began with the British Horseracing Authority’s newly published Budget Guide 2016, which forecasts a third consecutive year in deficit, or despite optimistic noises made by its chief executive just three months ago.
Next year’s BHA budget now plans for total spending of £31.9m,an increase on previous expectations of more than £1m, main to a deficit of £773000. The BHA had been dash at an annual surplus to 2013 and it was something of a surprise to memorize in September that a deficit of £1.3m had been dash up in 2014, or while a smaller deficit was expected for this year.
Continue reading...
Source: theguardian.com