Sales ‘ecosystem’ not to be confused with tax threat, says BHA The British Horseracing Authority continues to push its #AxeTheRacingTax campaign despite record spending at the recent Tattersalls sales, highlighting the complexities of the racing industry's financial situation. BHA Addresses Sales Spending Amid Tax Campaign The British Horseracing Authority has reiterated the continued need for its #AxeTheRacingTax campaign, even with the millions changing hands within the industry at the Tattersalls sales recently. At the saleshouse's marquee Book 1 yearling auction last week there were several lots purchased for over a million guineas, with over 129 million guineas spent in total — which is over £135million in modern British currency. Those are huge sums and the fact there is a willingness to spend them perhaps challenges the industry message that racing can ill afford the proposed increase in betting taxes expected to be announced in the upcoming budget. Brant Dunshea, acting chief executive of the BHA, is conscious of the way those sales results may be perceived and is keen to keep the sport on the front foot when it comes to communicating the complexities of its case. "It is an ecosystem in itself, in isolation, and we've got to be careful not to conflate the two issues." He noted that the sales results are largely foreign investment and not necessarily helpful in terms of the sport's position, but also in terms of the drain of equine talent when the foal crop has declined. He added that the sales have given the BHA the opportunity to highlight that the two issues shouldn't be conflated. Greg Swift, director of communications and corporate affairs at the BHA, explained: "We have historically had a narrative played back to us from the government that we can't be struggling that much, particularly around Book 1 when the larger sums are spent." The BHA will contact the Department for Culture, Media and Sport (DCMS) and the Treasury to give them the data. The sales do support the argument that racing and the British breeding industry is a huge source of foreign investment into the UK, which is vital. Part of the reason those sums are spent is because of the huge cachet attached to British racing and the recognition that the industry is a world leader in breeding. However, the best breeding stock is being taken out of Great Britain to race elsewhere, and there are a number of reasons why foals are being taken out of the UK. Swift concluded: "Harmonising, even through a relatively small increase in duties on online betting on horse racing, will have a significantly damaging impact on the finances of the sport and that will then exacerbate the situation that we are talking about." Positive Attendance Numbers Across British Racecourses While the #AxeTheRacingTax campaign continues with three sponsored races at Fakenham on Friday, there is positive news from the Racecourse Association regarding racecourse attendances. In the third quarter of 2025 attendances increased by 4.5 per cent from the same period in 2024, with key meetings at Newmarket, Goodwood and York all rising in popularity alongside the Ladies' Day meeting at Beverley and the St Leger at Doncaster. David Armstong, chief executive of the RCA, commented: "It remains encouraging that attendances continue to increase across British racecourses." The Q3 figures represent the second consecutive quarter in which there has been a clear increase, and the busy summer season has again proven a hit with customers. The quarter's key racedays and festivals resonated with the public, with seasoned racing fans and once-a-year day trippers attending in high numbers, which demonstrates the wide appeal of these marquee events. Whilst awaiting the full campaign report, the early metrics from the Going Is Good campaign make for encouraging reading. The sport recognises the importance of reaching a younger demographic, and the uplift in millennial audiences engaging with racecourse content must be considered a positive sign.
