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ARC MAKES SUBSTANTIAL OFFER TO INCREASE PRIZE MONEY TO HORSMEN'S GROUP

Sun, Sep 29, 2013

Recent discussions between ARC and the Horseman's Group have resulted in ARC having offered up to £11.3m, a £2.2m or 24% increase in executive contribution for 2014. This follows an 18.5% increase in total prize money paid in 2013. In addition we have offered inflationary increases to this sum for both 2015 and 2016.

In making this offer ARC are confident about entering into a contractual agreement that will give the Horsemen a guarantee about future prize money at ARC tracks.

Tony Kelly Managing Director of ARC said "We have made a very substantial offer to increase our prize money commitment for next year. We understand that the quantum of what we have offered is more than acceptable to the Horseman's Group but we have not yet been able to finalise the detail of the agreement.

This gives certainty to the Horsemen that this commitment will continue for the foreseeable future. We believe this is a substantial commitment particularly given the continuing uncertainty about the economy and on-going discussions with bookmakers and government about the future funding of the sport.

This year has seen a considerable improvement in prize money at ARC tracks, a very much enhanced owners and trainers policy, continued investment in the track and a major investment in large screen technology to ensure every raceday has large screen viewing. Next year we plan to launch an all-weather series culminating in Finals Day at Lingfield Park.

We hope that this offer is accepted and enshrined in an agreement which acknowledges the very real efforts we are making to work with the Horsemen in a collaborative manner to improve the overall benefits to the sports participants."

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Kate Hills - PR