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21 February
2008 Government To
transfer Ownership Of National Stud To Jockey
Club The Government
has announced plans to transfer ownership of the
National Stud to the Jockey Club. The National Stud
is presently managed on behalf of the Crown by the
Horserace Betting Levy Board, a non-departmental
public body. Situated at Newmarket, it has been
operating at a loss for the last six years. As part
of the transfer, the Jockey Club, who already own
the freehold of the site, will guarantee to
continue to offer training in stud management at
the site for a minimum period of five years. It is
estimated that the cost to the public purse of
funding this training over five years would have
exceeded the value of the assets to be transferred
to the Jockey Club. Minister for
Sport Gerry Sutcliffe said: "I am pleased that the
Jockey Club has agreed to take on ownership of the
National Stud. This means first-class training in
stud management will continue and, importantly,
that the facility will be managed by an
organisation dedicated to the improvement of
horseracing. This move is also part of our wider
policy of ending our direct involvement in the
administration and financing of
horseracing." |
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