TBA’S 108th Annual General Meeting highlights urgent challenges and strategic progress for British Breeding

The Thoroughbred Breeders’ Association (TBA) held its 108th Annual General Meeting on Monday 1 September, where Chairman Philip Newton addressed members and trustees on the critical challenges facing the breeding sector and British Racing, but pointed to key areas of strategic progress as well as the officially launching the Association’s 2024 Annual Report. 

Opening his remarks, Newton warned of the difficult crossroads at which the sport finds itself, referencing sustained pressures on betting turnover, racecourse attendances, and audience engagement, highlighted by the continuing decline in the foal crop. He emphasised an urgent need for an “all hands-on deck” approach to achieve a transformational funding solution, evidence-based action, a robust commercial arm and greater alignment across the industry to safeguard the future of both British breeding and racing. 

Touching on the governance and the TBA’s support for an independent board and strong commercial set-up, Newton commented: Charles Allen has a big job in front of him, and the industry needs to recognise he doesn’t have a silver bullet and cannot do this on his own. The TBA will provide support, reasoned and considered counsel and give Charles Allen every opportunity to deliver the job he has been appointed to do.” 

Recognising the ongoing challenges faced by breeders, the TBA also highlighted key areas of progression for the sector, including the publication of the 2026 fixture list in August and the additional £4.4million of prizemoney of which £3.2million will be directed towards developmental races which are crucial for supporting the domestic breeding market and for encouraging the racing and development of young talent in Britain. This area has been a key focus for the TBA in industry discussion to address an area of prizemoney disparity with Ireland and France. 

An additional £200K for the further expansion of the Elite Mares’ Scheme following its initial success in 2026 marks another positive step forward to enhance grant levels for mares and broaden access to British National Hunt stallions, with the aim of improving the quality of British-bred progeny.   

The TBA’s key priorities for 2026 were discussed with two formal presentations including one on the sports own strategy for growth and greater alignment between the TBA, ROA and BHA around the owning breeding strategy as part of the broader industry framework. Part of the business plan will look at the owner and breeder pathway through the sport, ensuring a more joined up and collaborative approach and focus on the retention of owners and breeders. With the knowledge that most breeders come into breeding through racehorse ownership, activity will be directed towards identifying key touch points, signposting and supporting them in that process.  

Deputy Chair, Kate Sigsworth presented on the TBA’s ongoing commitment to the welfare of the thoroughbred and continued investment into veterinary research; surveillance of infectious diseases; and studies to explore genetic diversity. The TBA also announced the planned introduction of a fixed rate equine welfare levy to be placed on all British foals bred to race from January 2026, to bring the breeding sector in line with the wider industry funding solution and increased commitments from other stakeholders, to support RoR with aftercare initiatives for all thoroughbreds bred to race. 

Finally work is starting on the development of a long-term breeding strategy for the sector, aligned to wider industry framework with Newton commenting: “If Racing is to survive and prosper it must be able to rely upon a robust and sustainable production line that provides security and proper returns for the breeding base.” 

Newton closed his speech by thanking outgoing Chief Executive Claire Sheppard for her unwavering  commitment and dedication to the role over the last eight years, saying: “The TBA and the wider industry has been so very fortunate to have had Claire Sheppard’s dedication and expertise at the helm for the past eight years.  

“She has championed the interests of the breeding sector with determination and persistence, navigating challenges in a complex stakeholder and political environment. I, and the TBA Board, would like to thank her and wish her all the best in the future.” 

The meeting’s official matters of business included the approval of the minutes of the previous AGM, re-election of the auditors, confirmation of membership fees for 2026, and the appointment of one new co-opted trustee, Colm Donlon who will be taking up the position effective from this AGM.  

Colm is a Managing Director at Morgan Stanley, a successful owner breeder, and has been an active Committee member of the TBA National Hunt committee. It was also confirmed that Matt Prior would continue as a co-opted trustee for a second term.  

Leaving the board of trustees is Sam Bullard who has completed two terms of office and will be standing down from the Board following this AGM. Anita Wigan also leaves the TBA Board after seven years of service. As one of the elected members, her position will be filled in next year’s election process.  

Finally, Julian Richmond Watson will step down from his position as Honorary President of the TBA immediately following the AGM.  

Questions from the floor were accepted at the end of the meeting where trustees and members were invited to answer questions on their areas of interest.  

The TBA’s 2024 Annual Report was formally launched and can be viewed here.