Channel 4 In Negotiations For Racing Subsidy

Channel 4 have entered “meaningful negotiations” with the nation’s bookmakers to secure a subsidy for its horseracing coverage after pushing back the deadline for a decision last week.

The broadcaster is believed to require £8 million from the racing coalition, comprising bookmakers, racecourses and the Levy Board, in order to continue coverage of over 200 hours of racing at a cost of around £10 million.

Channel 4 had initially set a deadline of 31 May for an acceptable subsidy offer to be received, put pushed the deadline back after receiving an offer of just £1.6 million from bookmakers.

However, the broadcaster is now in negotiations which will continue this week in order to avoid the loss of Channel 4’s racing coverage at the end of the year.

A spokeswoman for the broadcaster confirmed that negotiations were continuing, but that there are no signs of an imminent resolution, stating: “The original deadline was May 31st, we remain in talks, having meaningful discussions with the UK horseracing industry and at this stage that is still the situation. There’s no news as to when those talks will be complete.”

Last year saw Channel 4 salvage the exclusive rights to broadcast British horseracing events on terrestrial television following the collapse of the Attheraces consortium. The broadcaster secured an 18-month contract with the Racecourse Holdings Trust to broadcast races from Cheltenham, Newmarket, Kempton Park, Sandown Park, Haydock Park and six smaller courses (see Channel 4 Keeps Hold Of Reigns In Racing Deal).

However, this coverage could expire by the end of the year if the broadcaster is unable to secure an acceptable level of funding to bolster its own financial input to the sport.

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