The British Horseracing Authority released a summary of its 2019 annual report and consolidated financial statements. BHA’s Chief Executive Nick Rust opted for the release of an abbreviated version of 2019 to augment the strategic report featured in the accounts. Audited accounts for last season show an operating loss of £767,000–over the budgeted-for deficit of £478,000–and is due, in part, to increased activity including the formation of the Horse Welfare Board. In the summary, Rust reflects on notable events during the year like the equine influenza outbreak, Brexit, the impact on the Levy of the Government’s Gambling Review of 2018 and the formation of the Horse Welfare Board. To view the 2019 accounts report, click here.
In an effort to mitigate a deficit stemming from Coronavirus in 2020, the BHA enacted fund-saving measures during the suspension of racing, including accessing employing government help schemes, pay cuts for BHA staff and Board, cost savings linked to efficiencies in the Fixture List and the negotiation of a rent freeze on the BHA’s head office. To view the BHA’s Coronavirus Recovery Plan, click here.