The BHA board has confirmed that participant fees will raise by 3.9% by 2025. The fee increases will support to further improve BHA services, including by investing in digital technology to improve raceday operations and simplify administrative processes to make it easier to participate in the sport.
We never take the decision to raise fees lightly. We recognize that this impacts individuals and businesses in our industry, those who own, train, ride and care for our horses and play an invaluable role in our collective success. We know that you too are facing rising costs and external pressures and are extremely grateful for your continued support of British racing.
Our special thanks go to the racehorse owners who continue to show unwavering loyalty despite complex economic times. Our sport would not be possible without your significant contribution. Therefore, it is essential that we ensure you feel valued and rewarded through an improved ownership experience and increased prize money returns.
The need for fees is increasing
The BHA has carefully considered the appropriate level of fees for 2025. Our aim is to break even over the longer term, with fees charged at a rate that supports the effective governance, administration and regulation of our sport.
We will always first examine where the BHA can achieve additional savings. For example, by moving our headquarters we are saving around £300,000 each year and we have also been able to absorb the financial impact of changes to employer national insurance, which will cost us around £400,000.
But we must balance potential cost savings while ensuring we continue to provide high quality services to participants and the wider industry, both on and off the track. We must also ensure our sport remains unthreatening, immaculate and fair, giving participants, customers and investors confidence in the integrity of our racing product.
Investment and planning for 2025
In a rapidly changing digital landscape, the BHA will invest in technology to support, improve and make our raceday operations and regulatory functions more resilient, particularly in relation to the connectivity of our systems. We must also be at the forefront when it comes to protecting ourselves and the online systems on which racing depends from increased cybersecurity risk.
The BHA continues to lead the development and delivery of British racing's industry strategy work, which aims to raise our revenue and place us on a more secure footing for the long term. This is a cross-industry approach based on direct input from racing stakeholders and representatives.
In 2025 there will be a much greater focus on customers and investors – be they owners, trainers, racegoers, bettors or others – with work underway around the ownership experience and how we better engage both up-to-date and existing supporters , win and retain.
The up-to-date Racing Digital Hub will launch in 2025 and will improve and make the administrative processes more user-friendly, especially for owners and trainers. Owners benefit from a simplified fee structure that makes it clearer what they are paying for and why – increasing transparency and reducing administrative burdens.
We can also expect to release an industry human resources strategy focused on recruiting, retaining, developing and well-being of a elated, high-performing workforce. The welfare of horses and our ability to act socially will continue to be a priority for the sport.
Challenging financial circumstances
Of course, everyone in British racing and breeding is operating against a backdrop of extremely complex financial circumstances.
We continue to advocate vigorously for the UK Government on the well-documented pressures on racing's finances and revenue streams, and call for swift action to address immediate threats and secure a more sustainable future for the sport.
In parallel to this work, the BHA is leading a cross-industry effort to examine racing's revenue and funding models and consider how we can make better operate of existing resources.
We will always ensure that the BHA offers value for money to those who have to pay the fees. Thank you again for your continued commitment and support to British racing.
