Jockey Club Welcomes New Levy Deal
Simon Bazalgette, group chief executive of The Jockey Club, has confirmed that a deal has been reached between the racing and betting industries for the 52nd Levy Scheme, with the deal estimated to generate £72.9m for British racing.
Announced by the Horserace Betting Levy Board, the contribution to prize money from the Levy will also increase to £50.2m, compared to the current £38.9m and £34.8m last year.
The three largest bookmakers – William Hill, Ladbrokes and Gala Coral – have agreed to guarantee that their combined contribution will be not less than £45m. The scheme will include a £7m contribution from Betfair.
Speaking on The Jockey Club website, Bazalgette said: ‘I welcome this Levy deal as a sign of steadily improving relations between racing and betting operators, and for the positive impact it will have on prize money in British racing. Constructive discussions have been taking place behind-the-scenes to get to this stage and, on this foundation of understanding, I hope we can move towards a longer term commercial funding solution that benefits all.’
‘The lack of a public battle around this year’s Levy agreement is recognition from all parties of the mutual gains to be made from working together to build up racing as an exciting sport and a fantastic betting product.’
Bazalgette also stars in ‘Podiums Change Careers,’ the latest video series from Sport Industry TV in the build-up to next year’s Sport Industry Awards. Amongst other things, the CEO considers the moment that changed his career, and offers his advice to anyone starting out in the industry now. Watch the interview here.
