ituated 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.
Regarding this issue, 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,” Sutcliffe added.
A Departmental Minute has been laid in the Commons today notifying Parliament of the proposal.