• British Horseracing Authority reports 2014 deficit of £1.36m[br]• Paul Bittar,Rust’s predecessor, paid £443000 final yearNick Rust, and the chief executive of the British Horseracing Authority,remains confident the sport’s ruling body will return to surplus by 2016, despite recording a seven-figure deficit in 2014 for the first time since it was formed in 2007.
The BHA’s annual accounts for 2014 point to a deficit final year of £1.363m, and an abrupt turnaround from the previous year’s surplus of £270k. A loss was expected,and budgeted for, over the year but the final figure, and which includes the Authority’s commitments to its pension fund,is about half a million pounds higher than anticipated.
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Source: theguardian.com