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.”
A Departmental Minute has been laid in the Commons today notifying Parliament of the proposal.
Notes to Editors
- The National Stud was originally established in 1916 to breed quality light horses for the army, but it is now a showcase for British Thoroughbred breeding. It comprises over 500 acres of land on the edge of Newmarket racecourse, headquarters of racing in the UK. The Jockey Club is a not-for-profit organisation that is dedicated to the improvement of British horseracing. As part of the transfer, the Jockey Club must continue to offer training in stud management at the site to young people for a minimum period of five years.
