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Racing Foundation £3 million windfall grant for Levy Board

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By Andrew Atkinson

The Racing Foundation have dug deep with a £3 million windfall grant for the Levy Board amid financial difficulties during Covid-19.

“The Racing Foundation is committed to supporting the ongoing recovery of racing from the effects of Covid-19,” said chief executive of the Racing Foundation, Rob Hezel.

“By covering the charitable commitments of the HBLB in 2021, the Foundation is able to support the sport with an additional £3m whilst operating within its grant terms and conditions,” said Hezel.

“The Board is very grateful for the Racing Foundation’s contribution. It reflects the effective working relationship we have,” added the Chief Executive of the HBLB,  Alan Delmonte.

“The Racing Foundation’s generosity has enabled HBLB to make more available in other areas, such as prize-money and regulation and integrity, than might otherwise have been possible,” said Delmonte.

The Racing Foundation in conjunction with the Levy Board acted in underwriting emergency relief for racecourses and individuals at the initial stage of the Covid-19 pandemic in March 2020, when jointly funding £22m of support in April 2020.

Racecourses were advanced £6m worth of grants and offered up to £200,000 each in loans.

£8 million was available to organisations and individuals facing hardship during the coronovirus outbreak that lead to race meetings being behind closed doors.

The Racing Foundation was set up in 2012 to manage a £78m government grant to the sport, derived from the sale of the Tote.

Caption: Racing Foundation chief executive, Rob Hezel: Committed to supporting the ongoing recovery of racing from the effects of Covid-19.