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Racing News |
Exeter To Become A Jockey Club Racecourse
21/12/2006
Exeter Racecourse is set to join the Jockey Club's portfolio of racecourses. The Directors of Devon and Exeter Steeplechases Ltd and Racecourse Holdings Trust Ltd are pleased to announce that agreement has been reached in principle for Exeter to become part of RHT, which from January 2007 will operate under the title of Jockey Club Racecourses. Following completion of the relevant due diligence reports, the racecourse is expected to become the fourteenth course to join the group. The formalities are expected to be completed early in the New Year.
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As part of the agreement, Jockey Club Racecourses is committed to a £2.4 million investment programme to be completed within the next three years. This investment, which is subject to the provision of a Levy Board loan towards the funding, is expected to include a rebuild of the weighing room complex, as well additional corporate boxes and viewing stands. Delivery of the planned development will add a significant, new dimension to standards of service for racegoers, as well as considerably expanding the potential for non- raceday activities.
Major General Nick Vaux, Chairman of Exeter, said: "We are delighted to have reached agreement with the Jockey Club's racecourse group for what will undoubtedly be an important stage in the continuing development of this famous West Country racecourse. As the running of racecourses becomes a more competitive and commercial business, we believe that Exeter's inclusion within the leading racecourse group in the country will enable the track to continue to progress and guarantee the provision of quality racing for the longer term.
"We are proud of the standing that Exeter Racecourse has acquired within the National Hunt community but we believe that the transfer to Jockey Club Racecourses will enhance that reputation still further as the group shares our commitment to promoting and developing National Hunt racing."
Andrew Coppel, Chief Executive of Racecourse Holdings Trust, said: "This is an exciting development and one which we believe will be beneficial for both parties.
"The addition of Exeter is a boost to our existing portfolio and, with the assistance of some financial support from the Levy Board, we are looking forward to overseeing the proposed investment programme. Throughout the group's history, from the initial purchase of Cheltenham over 40 years ago to the present day, we have repeatedly demonstrated our commitment to securing the future of courses as well as supporting National Hunt racing."
Racing started on Haldon Hill 350 years ago in the reign of Charles II. Exeter now holds 16 fixtures a year, between October and May. The two mile track is often considered to be one of the most demanding but fairest courses in the country. The racecourse has the reputation for identifying future National Hunt champions and both Desert Orchid and Best Mate began their exceptional careers at Exeter. The principal race of the winter programme is the Haldon Gold Cup (currently the William Hill Gold Cup which is run in November).
Wetherby racecourse has taken the decision to cover the whole track
ahead of the Sky Bet Christmas Meeting on Boxing Day, Tuesday, December
26 and Wednesday, December 27.
The sheeting, covering some 23 acres, will go down tomorrow, Friday,
December 22, with extra frost protection blankets at certain points and
will remain in place over the weekend up until Boxing Day morning.
James Sanderson, Wetherby's Chief Executive and Clerk of the Course, said today: "The weather forecast is rather uncertain as regards to frost over the next few days and, with that in mind, we have taken the decision to cover the entire track ahead of the Sky Bet Christmas Meeting."
