Go Racing deal agreed

British racing`s media rights deal, the Stg£307million contract that is designed to guarantee the future prosperity of the sport, has finally been accepted by racing`s rulers.

A board meeting of the British Horseracing Board last night gave the assent to the contract, granting Go Racing a licence for the use of pre-race data vital for proposed new interactive betting facilities.

The board also ratified chairman Peter Savill`s future funding plan for the replacement of the current Levy system through which bookmakers contribute to racing.

The deal with Go Racing - a partnership comprising of Arena Leisure, BSkyB and Channel 4 - has been under negotiation for two years and appeared to have collapsed at the start of this week.

Talks broke down on Monday because of disagreement over Go Racing`s plan for an exclusive licence on the use of data on new technology, such as mobile phones.

The BHB has worried about giving up a long-term contract for rights for potentially lucrative new media too easily.

But further intensive discussions, frequently stretching on into the early hours of the morning, have seen both sides reach a compromise.

Go Racing is set to offer a package that includes plans to launch a 24-hour digital TV channel dedicated to the sport, while Channel 4 will launch a new lunchtime racing programme.

Savill this morning told a packed press conference the news that some had thought would never arrive.

'I`m absolutely delighted to announce that last night the board of the BHB made two historic decisions,' he said.

'First of all to support the Go Racing deal by issuing a licence on terms that we have agreed.

'Secondly and as importantly to agree terms within the industry for the Future Funding Plan.'

The amendments made to the Go Racing agreement must be ratified by the 49 racecourses who have signed up by 2pm on Monday.