The British Horseracing Authority (BHA) has announced that it is undertaking a restructure of its corporate governance.
In a bid to strengthen the long-term development of UK racing and its implementation of a new industry strategy to improve funding, BHA members approved the initiative yesterday at the EGM of the Racecourse Association (RCA) attended by all stakeholders of UK racing.
The revamp of the BHA’s corporate governance will require new articles of association to be adopted by members, who further agreed to develop a new members agreement.
Julie Harrington, Chief Executive of the BHA, commented: “The agreement of a new governance structure is an important step along the road to developing an industry strategy to secure the future prosperity of racing in Britain.
Moving forward, BHA governance will be supported by a new Commercial Committee to oversee progress on funding.
The dedicated Committee will focus on strengthening UK racing’s commercial focus, including racing fixtures, key contracts, the promotion of the sport and initiatives regarding key stakeholders such as owners and bettors.
“This new structure not only provides a platform upon which progress can be established, but also clarifies the BHA’s role as the sport’s governing body and regulator,” continued Harrington.
“Acting on behalf of our members at the Racecourse Association and The Thoroughbred Group, I am confident that this structure will lead to better-informed decisions on commercial and strategic matters.”
The board will also count on the Integrity Advisory Committee, who will provide strategic advice and make recommendations on matters relating to the long-term integrity and sustainability of UK racing.
Meanwhile, a new Industry Programme Group will be created to provide guidance on matters related to horse welfare, HR, equality, diversity and inclusion, corporate social responsibility, social licence and environmental sustainability.