WELCOME FOR OFT-BHB DEAL

12.00.00pm UTC (GMT +0000) Thu 10th Jun 2004

David Rendel MP has welcomed the agreement announced today between the British Horseracing Board (BHB) and the Office of Fair Trading (OFT) to modernise the racing industry. The deal was announced at the AGM of the BHB.

The agreement separates the governance and commercial functions of the BHB. The BHB will relinquish its monopoly over the selling of data to bookmakers - a key concern of the OFT - and there will be greater competition between racecourses.

Commenting, Mr Rendel said:

"These welcome proposals will ensure that we retain a vibrant and successful racing industry, with proper safeguards for the consumer.

"But it also avoids the unchecked deregulation originally proposed by the OFT which would have badly damaged the industry and put the future of many racecourses at risk. National Hunt Racecourses in particular will breathe a deep sigh of relief at today's news."

ENDS