Shiekh Joaan Al Thani's Al Shaqab Racing owes its trainers a considerable amount in unpaid debts, some many months overdue, reported Racing Post. A letter was sent to trainers and other service providers that were owed money by the Qatari organisation on Monday evening.
In part the letter reads: “We are very sorry that you have been experiencing such delays in payment of Al Shaqab invoices. We are in the process of correcting an issue that has created this backlog and hope to have monies in your account shortly. In the hope of speeding up the process we are reorganising our European accounts department and from Jan. 1 onwards, we will be centralising all the invoices to the French office at the Haras de Bouquetot for their approval before being processed at the Doha finance office in Qatar. We would like to take this opportunity to thank you for your considerable patience and understanding. Please rest assured that all monies due will be paid.”
Al Shaqab general manager, Khalifa Al Attiya stated to Racing Post that the payment issues are linked to a financial review and reorganisation: “Al Shaqab is operating like every other business with accountability and responsibility. Our responsibility is to finalise our yearly financial review and settle any invoices owed fully. We have noticed in our financial review that some payment may have been delayed, and answering that question as to why it has been slightly delayed is a question in our financial review.”
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