LONDON, March 16 (UPI) -- A deal has been struck between the British Horseracing Board and the agency that oversees monopolies that will save historic racetracks from closing.
The Times of London said Tuesday the board and the Office of Fair Trading reached agreement, although details won't be released for several weeks.
Racing chiefs had promised a shake-up of the sport to end practices that were branded anti-competitive and in breach of the law by the watchdog. In return, the OFT is ready to water down a plan to break up the monopoly of the BHB and the Jockey Club in the $165-million-a-year central sale of racing data to bookmakers.
The crucial factor for the industry was to secure the future for National Hunt and jump racing and shore up the rural economies in smaller towns.
The watchdog wanted each of the country's 59 racecourses to sell its own information. But The BHB feared the bookmakers would concentrate on flat races run throughout the day and evening on all-weather tracks at the expense of jump racing.
There is already a significant gulf between the two, with 1,341 flat meetings but only 540 jump meetings.
