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Penrose outlines racing's Tote sale benefits
By Pete Hayman
A charity and a grant scheme are to be established in order to distribute the £90m allocated to the racing industry following last year's sale of the Horserace Totalisator Board (Tote).
John Penrose, minister with responsibility for horseracing, has announced plans which he said are "making good" on a pledge made with regards to proceeds from the £265m deal.
The new charity - The Racing Foundation - will help support charitable causes, while the British Horseracing Authority-administered fund will benefit State Aid-compliant projects.
To read more on an industry-wide marketing initiative and new race series designed to boost attendances at UK racecourses, see Leisure Management 2011 Issue 4, p52
Details: www.culture.gov.uk
A charity and a grant scheme are to be established in order to distribute the
£90m allocated to the racing industry following last year's sale of the
Horserace Totalisator Board (Tote).
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