Board agrees to Stud deal

The Levy Board has agreed in principle a proposal by the Jockey Club to secure

the future of the National Stud.

The terms are still to be finalised and are subject to Government approval but

the aim is to implement the new arrangements by late October.

The Levy Board took on responsibility for operating the Stud on behalf of the

Crown in 1963. It is located on 500 acres of land at Newmarket which is leased

from Jockey Club Estates.

Jockey Club senior steward Julian Richmond-Watson said: "We were delighted to

be asked to participate in the process of developing a proposal to safeguard the

long-term future of the National Stud.

"Preserving the heritage of British Thoroughbred breeding, as well as the

pursuit of excellence through the provision of education and training services,

sit very well alongside the Club's overall aims and objectives."