Jockey code switch hands bookies new opportunity
Operators now able to strike sponsorship deals with individual riders rather than previous restriction of a minimum of 50 deals was lifted
Bookmakers have been given the green light to negotiate sponsorship deals with individual jockeys after the British Horseracing Authority (BHA) decided to remove a “prohibitive” rule which limited operators to striking batch deals with 50 or more riders.
The amendment to the jockey code of conduct, which was announced by the BHA yesterday, has been made on a trial basis until the end of the year and is expected see to a batch of deals being agreed between jockeys and operators.
“The previous regulations only allowed for block sponsorship of 50 or more jockeys by a bookmaker, and these terms obviously proved overly prohibitive as no such deals were signed,” Will Lambe, director of public affairs and policy for the BHA, said.
The move follows a proposal made by the Professional Jockeys Association and its chairman Nigel Payne said yesterday’s decision would benefit all parties.
“We have been working closely with the BHA on this project for some time,” Payne said. “We are particularly delighted as this offers new earning potential for our members and excellent sponsorship opportunities for bookmakers,” he added.
Sponsorship agreements will only be permitted with operators that have funding deals in place with British Racing, in particular those paying the full Horserace Betting Levy or equivalent through commercial or voluntary arrangements.