TBA publishes report on the future for British thoroughbred breeding
In a major report published today, the Thoroughbred Breeders’ Association has put forward recommendations to stem the potentially catastrophic impact of the Covid-19 pandemic on British racing in the medium and long term.
They include capitalising on Britain’s international reputation for breeding and racing, ensuring a competitive and diverse racing programme and improving the viability of the British breeding industry.
It also recommends ensuring united industry action in achieving urgent reform of the Levy-funding system, getting behind industry-wide efforts aimed at increasing racehorse ownership and considering initiatives that have been shown to work in other countries.
The report measures the state of health of the British breeding industry between publication of an Economic Impact Study commissioned by the TBA in 2018 and the immediate aftermath of coronavirus consequences.
Its underlying finding is that the impact of the Covid-19 pandemic is highly likely to accelerate the projected scale and rate of decline of an industry that was already facing serious challenges.
Collating various sources of data, the report notes: “Whilst in the immediate aftermath of the Covid-19 pandemic the impact on racing will arise from its effect on owners, unable to support as many horses in training, and by the exodus of horses in training to France and Ireland, where prizemoney levels have been more resilient, the long-term damage is most likely to be caused by its impact on breeders.”
It adds: “This could be exacerbated by changes in the ownership structure of three of the five major breeding operations, due to the loss of their founders in the early months of 2021. As a result, there will simply not be enough horses to sustain a racing programme in Britain of the scale the sport has grown used to.”
The report has drawn on data from thoroughbred sales, a comprehensive survey of breeders and industry reports, as well as information provided by the secretariat at Weatherbys.
TBA Chairman Julian Richmond-Watson said: “Since the publication of the TBA Economic Impact Study of 2018, we have delivered a number of projects as part of our strategic plan to improve the environment for British breeders and the breed. It was great to see the Great British Bonus implemented in time for the return of racing in June last year to provide the much needed support to investors of British bloodstock.
“Throughout 2020 we actively monitored the situation, collecting data from various sources to assess the potential impacts on our industry. Today’s report provides evidence that some of the trends first highlighted in the 2018 study have unfortunately been accelerated by the events of the last twelve months. Although the GBB scheme is showing early signs of success, it alone cannot resolve all of the industry’s issues. The report provides recommendations for future recovery and we hope that our industry partners will support us for the long-term benefit of the sport, its horses and people.”
The evidence provides informed forecasts of the potential consequences on the British racing and breeding industries of the Covid-19 pandemic, on the basis of what happened in the last major economic downturn in 2008 and what has happened since the 2018 Economic Impact Study was published.
Of particular relevance have been data collected during the past year, in terms of declining trends in numbers of horses in training, sales aggregates of Flat and jumps young stock, and reported foal crops and coverings of mares.
The TBA will be hosting a webinar to discuss the report, and answer any questions you may have on Thursday, 27 May at 10:30am.