BHB chairman backs Sheikh

Sheikh Mohammed's threat to pull out of racing in Britain received widespread support yesterday from throughout the industry. As the sport digested the possible consequences of a Maktoum family withdrawal, its leadership pledged to continue its efforts to win further concessions from British government.

Sheikh Mohammed targeted bookmakers, the government and sections of the British Horseracing Board as he spelled out his dissatisfaction at the annual Gimcrack Dinner in York.

He appeared to give the sport five years to raise prize money to a level that will produce a satisfactory return on his massive investment or he will take his operation elsewhere.

Luca Cumani, one of the Sheikh's trainers suggested that as many as 500 jobs were directly at risk by a complete exit by the ruling family of Dubai.

BHB chairman Lord Wakeham, himself a target of Sheikh Mohammed's criticism, urged the industry to "heed his very clear warnings".

Sheikh Mohammed told a stunned audience that "the time for silence has passed. We cannot justify continuing at current levels of investment for much longer and are actively studying whether other parts of the world might not provide better opportunities for us.

"All I ask is that the astounding gulf between outlay and return is narrowed . . . not for my benefit but for everybody's benefit in all corners of the industry.

"Unless we see positive signs of progress and the possibility of change, we will massively reduce our racing and breeding presence in Britain and resign ourselves to racing in countries which bring us less pleasure but make more economic sense."

Justin Wadham, managing director of Darley Stud Management, the Sheikh's UK headquarters, will be one of the advisers detailed to report back to his employer in Dubai. "His speech talked about the Gimcrack in 2002, that's as specific as he's been about a time-scale for progress," he said.

In Sheikh Mohammed's opinion the sport's chances of securing a better financial future rest with the BHB who must win a greater slice of betting duty and take control of the Levy Board.

Lord Wakeham said efforts would continue to be directed towards achieving these goals.

"Racing, Government and the betting industry ignore at their collective peril the forthright views expressed on Sheikh Mohammed's behalf," he said.

"The comments are particularly relevant as the BHB prepares to renew its representations to Government for another cut in betting duty and increase in the levy.

"We share Sheikh Mohammed's view that, as we have pointed out to successive Chancellors of the Exchequer, government extracts from racing more money that is justifiable or sustainable in the long-term.

"Furthermore we remain very uncompetitive internationally. We need the resources with which further to improve and market the racing product for the benefit of racing, Government and bookmakers.

"Significant improvements in our prize money position are vital if we are to continue to attract the quality investment Sheikh Mohammed has now warned is seriously at risk if the economics of racing do not improve materially.