John Grossick (racingpost.com/photos)
“title =” Nick Rust: “This will help us get through the winter” “class =” js-imageLoader “data-at-xn =” https://www.rp-assets.com/images/news/2018 / 12/28/54111-medium.jpeg “data-br-n =” https://www.rp-assets.com/images/news/2018/12/28/54111-medium.jpeg “data-br- m = “https://www.rp-assets.com/images/news/2018/12/28/54111-large.jpeg” data-br-w = “https://www.rp-assets.com/ images /news/2018/12/28/54111-large.jpeg “data-br-xw =” https://www.rp-assets.com/images/news/2018/12/28/54111-large.jpeg ” onclick = “return false;”>
Nick Rust: “This will help us get through the winter”
John Grossick (racingpost.com/photos)
By Scott Burton and Bill Barber
BHA chief executive Nick Rust said it was in the sport’s interest to ‘unlock as much money as possible’ after the government announced £ 40million in loans were available for racing English.
The money, which is part of the government’s £ 300million winter survival program for sport, is primarily intended to help racetracks, which have had no paying customers since mid-March.
Rust acknowledged the exact details of how the money would be accessed and by whom have yet to be revealed, but told the Racing Post that the package – the second largest slice of money offered to a sport after the rugby union – was urgently needed.
Speaking in the House of Commons, Sports Minister Nigel Huddleston described plans to provide a mix of low-interest loans and grants to major spectacle sports designed to keep clubs and businesses afloat until the Covid-19 situation in Britain allows sustainable levels of spectators to be welcomed again.
Getty Images / Pool
“title =” Racing will receive up to £ 40million in government aid, just behind rugby union “class =” js-imageLoader “data-at-xn =” https: //www.rp-assets. com / images / news /2020/10/02/83146-medium.jpeg “data-br-n =” https://www.rp-assets.com/images/news/2020/10/02/83146-medium .jpeg “data- br-m =” https://www.rp-assets.com/images/news/2020/10/02/83146-large.jpeg “data-br-w =” https: // www .rp-assets. com / images / news / 2020/10/02/83146-large.jpeg “data-br-xw =” https://www.rp-assets.com/images/news/2020/10/02/83146-large .jpeg “onclick =” return false; “>
The races will receive up to £ 40million in government aid, just behind rugby union
Getty Images / Pool
Rust said: “This will help us through the winter. We have £ 40million available on loan. This will allow us to continue and fill some of the holes where our funding gaps exist.
“This money will be used to help support the racetracks and the prizes that help employ so many people in the sport.
“Apparently it’s to support the racetracks but we went to great lengths – myself, [Racecourse Association chief executive] David Armstrong and the others involved in the talks with the minister – to explain the flow of money through racing and the fact that the racetracks had recently been funded by their own loans and by Levy Board money, so the prospect immediate was not an impending racetrack closure.
“We don’t yet know if only racetracks can apply or if other sport organizations can.”
Rust added: “Of course, some parts of the sport may fear taking on additional debt, but it is in the best interests of the sport, especially if these loans are on favorable terms and those terms include a repayment period. reasonably long, then it is in our best interests to release as much money as possible.
“There will probably have to be some pretty quick and nimble discussions once we get the details, to figure out how best to unlock the money and make sure it goes where it’s needed most.”
How the winter running survival package compares to other sports
£ 135 million Rugby Union (£ 44million to RFU, £ 59million to Premiership clubs)
£ 40million Horse races
£ 28 million Football (English Football League and Women’s Football)
£ 12million Rugby league
£ 6 million Sports car
£ 5million Tennis
£ 4million Everyone for netball, basketball and ice hockey
£ 2million Badminton
£ 1 million greyhound racing
“title =” Greyhound racing to receive £ 1million in emergency government funding “class =” js-imageLoader “data-at-xn =” https://www.rp-assets.com/images/ news / 2020/11 /17/84960-medium.jpeg “data-br-n =” https://www.rp-assets.com/images/news/2020/11/17/84960-medium.jpeg “data -br-m = “https://www.rp-assets.com/images/news/2020/11/17/84960-large.jpeg” data-br-w = “https: //www.rp-assets .com / images / news / 2020/11/17/84960-large.jpeg “data-br-xw =” https://www.rp-assets.com/images/news/2020/11/17/84960- large.jpeg “onclick =” return false; “>
Greyhound racing to receive £ 1million in emergency government funding
Government ministers continued to make positive noises about future pilots to bring spectators back and Rust confirmed that this remains the number one priority for the BHA.
“Racetracks have said they believe they have lost £ 300million this year in terms of revenue,” said Rust. “It’s not far from the target amount we would have asked for if we could have waved a magic wand.
“We would have liked it to be grants but loans, assuming the terms are right with a long repayment period, are very helpful in helping us get through this period.
“However, 70% of the spectator related income comes from the period April to August and the main thing for us is to make sure that we have a roadmap with spectator pilots to help us get to a stage where we can start to bring spectators back safely. This is absolutely essential. “
“title =” Nigel Huddleston: made a statement in the House of Commons on Thursday “class =” js-imageLoader “data-at-xn =” https://www.rp-assets.com/images/news/2020/ 02/18/75499-medium.jpeg “data-br-n =” https://www.rp-assets.com/images/news/2020/02/18/75499-medium.jpeg “data-br-m = “https://www.rp-assets.com/images/news/2020/02/18/75499-large.jpeg” data-br-w = “https://www.rp-assets.com/images /news/2020/02/18/75499-large.jpeg “data-br-xw =” https://www.rp-assets.com/images/news/2020/02/18/75499-large.jpeg ” onclick = “return false;”>
Nigel Huddleston: made a statement in the House of Commons on Thursday