Monday, June 12, 2006 | |
BHB's 2005 Annual Report Records Ongoing Achievements | |
British Racing�s resilience in the face of considerable challenges is outlined in BHB�s 2005 Annual Report, published at the BHB British Racing Review 2006 in central London today. The Report details continued growth in a number of key areas in 2005, with further records in:
Other indicators such as prize money � �99.3m � and total attendances � 5.9m � while down marginally on 2004 remained substantially higher than their levels of five years ago. For the first time, the Finance section of the Report includes a five-year breakdown of income generated by the sport�s governing body. Expenditure over each year of that period is then divided by regulation, governance and commercial headings. Although 2005 marked the end of BHB�s pursuit to fund Racing through data licensing operations, the policy is shown to have earned some �64m for Racing in additional revenues. Taking account of the inevitable legal and professional fees during this period � including those defending Racing against the OFT � and commercial costs including bad debts, the net benefit to the sport was �38.6m. BHB Chairman Martin Broughton�s Statement reports on the progress made on developing Racing�s future funding and governance structures whilst BHB Chief Executive Greg Nichols� Review of the year surveys many of the achievements made possible by attempts to secure a commercial funding mechanism, and looks ahead to further challenges the sport faces. The sections of the Report covering the activities of BHB�s core departments in 2005 feature:
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