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BHA and TBA defend Bobis incentive

YEARLING Bonus chairman and Irish National Stud chief executive John Osborne yesterday used his blog on the Irish National Stud website to criticise the British Owners and Breeders Incentive Scheme.

"The motive may be unashamedly pro-British but the net result is for owners to put in £1,100,000 in the hope of winning £3,600 should their British horse beat the opposition," he said. "British breeders were previously in receipt of £700,000 in breeders' prizes prior to the Bobis discussions, but that has been reduced to £400,000 in future to help fund this scheme.

"Breeders must contribute up to £600,000 to take part in the scheme as outlined. In return they can consume 30 per cent of the bonuses, which works out at up to £810,000. All the huffing and puffing to produce a net loss for breeders of at least £90,000."

Yesterday the BHA and TBA issued a joint-statement on the Bobis criticisms. It said: "Bobis has the backing of all the major stakeholders in British racing. It was developed by the TBA in conjunction with the BHA, and has support and approval from the Racehorse Owners Association, Racecourse Association and Levy Board and several of the major breeding operations, after an open period of consultation.

"The overriding objectives of the scheme are to encourage investment in British bloodstock, stimulate ownership in Britain and incentivise owners to run their horses more often.

"One of the advantages of the scheme is that it is entirely inclusive and as such the benefits will be received by all owners and breeders who win the respective races. There will be around 450 qualifying races in year one, which represents around double the number of races available on the Yearling Bonus scheme. It should also be noted that all overseas horses, including those based in Ireland, can produce eligible offspring by British-based stallions or mares.

"The figures quoted by John Osborne are misleading. Technically an owner will pay £275 and will win £3,600 each time their horse wins an eligible race.

"Furthermore, breeders' prizes were not reduced to fund the scheme - Bobis replaced the Flat breeders' prize, while the jumps breeders' prize remains untouched. In addition, British breeders pay in to the Yearling Bonus to get no prizes and no incentive specific to them at all, apart from avoiding the risk of buyers favouring other horses who are in the scheme."

 

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