It would be fair to say that Monday night's annual general meeting of the Thoroughbred Breeders' Association (TBA) was not a laugh a minute, but, as TBA chairman Philip Newton outlined, there is not much cause for levity in British racing and breeding these days. Rising costs, stagnant or falling prize-money in the lower tiers, and continued declines in the British (and global) foal crop were all cited as areas of concern, while Newton, who has been instrumental in the development of Project Pace, which seeks to make a Premier...