Consortium Submit Tote Bid The Racing Consortium has beaten Friday's deadline and submitted an offer to the Department of Culture, Media and Sport (DCMS) to buy the Tote.The consortium consists of the Racecourse Association acting on behalf of all racecourses, the Racehorse Owners Association and Tote employees. It is also funded by Lloyds TSB.A statement from the Racing Consortium read: 'The Racing Consortium is confident that the offer meets the Government's manifesto commitments, has been submitted within Government's timetable and should therefore be well received.'The Racing Consortium is bound by non-disclosure obligations and will make no comment until further notice.'The DCMS turned down an initial offer from the consortium, believed to have been in the region of #300million, in October.Since that offer, Arena Leisure have dropped out of the consortium, with the Tote management board subsequently stepping in.(C) PA Sport
