BRIAN Kavanagh chaired a session at the IHFA conference on ‘Promoting and Attracting Racehorse Ownership’, but before he did he spoke himself on the subject. “The President of the Racehorse Owners Association in Britain was recently asked why racehorse owners should have their hobby subsidised. If you owned a yacht or a vintage car, it would be ridiculous to expect help with paying for it. So why should owning a racehorse be different?

“His answer was very good – he said that racehorses, which are paid for by owners, provide the foundation stone of this sport and industry. He said racehorses were why £11 billion a year is bet on British racing alone. He said racehorses were why £70 million annually is received by the Levy Board and why well over £100 million a year is paid for the rights to televise racing in betting shops and on TV.