Go Racing, a company 33%-owned by racecourse group Arena Leisure, is set to secure the broadcast rights to horse racing at over seventy per cent of Britain’s 59 tracks. The deal could be concluded as soon as tomorrow.
Arena, which is issuing £80 million of shares to finance the venture, aims to market British racing overseas, where it believes a rising interest in gambling will help make the sport of kings as popular as Premier League soccer, Formula One motor racing and boxing.
Larger racecourses such as Aintree, Ascot and Newmarket are reported to have signed up to the Go Racing deal already. However, nine lesser tracks, angry at the division of broadcasting revenues between larger and smaller courses, have refused to support the deal, assigning their rights to GG Media, a rival company owned by GG.com and Fleming Family & Partners.
The remaining smaller tracks which have not yet decided between either offer have until May 9 to opt for one or the other.
News source: The Times (London)