A day at the races is one of the most quintessentially British activities, and in the aftermath of the Grand National each year the number of visitors to racecourses around the country skyrockets. Whether you are partial to a little flutter or just enjoy soaking up the atmosphere, it is undeniably a great activity – especially when the rain holds off!
Now the Jockey Club is offering the public a means of investing more heavily in the sport than simply purchasing a betting slip. A public bond, entitled the Racecourse Bond, is now an investment option for those wishing to take their interest in the sport to the next level.
Punters can contribute between £2,000 and £100,000 into the bond per annum, and in return will receive the pre-tax equivalent of 7.75 per cent in interest. However, the returns on any investment will be split in order to benefit investors keen on horseracing, as 4.75 per cent will be in the form of a cash payment while the remaining 3 per cent can be put towards hospitality packages, discounted tickets and even race cards at any racecourse operated by the Jockey Club.
Jockey Club Racecourses Managing Director, Paul Fisher, believes that this is an ideal opportunity for racing enthusiasts to make the most of their money.
He says; “Several million people every year enjoy a day at the races, whether you are a lifelong fan of the sport or just love a great day out.
“Our Racecourse Bond offers you generous cash returns at a time of rock-bottom interest rates, with a racing rewards element that can pay for your racing experience at any of our 15 courses nationwide.”
This is the first time a retail bond of this nature has been offered in the British sporting industry, and as such is likely to attract the interest of racing pundits and financial experts alike. However, with a much higher interest rate than offered by the majority of banks at the present time, it could prove to be an ingenious method of further boosting the sport’s profile and attracting high-end investors new to horseracing at the same time.
Yet the bond will not just act as a carrot for investors seeking to further their financial presence in the sport. The Jockey Club aims to raise a minimum of £15 million from the initiative, which will go towards development works due to be undertaken at the home of the Gold Cup, Cheltenham Racecourse.
Confirmation of the bond’s official launch coincided with the release of the Jockey Club’s best ever annual results. It achieved an operating profit of $19.8 million on a turnover of £150.3 million and, as always, all net profits will be invested back into horseracing.
As well as Cheltenham, the Jockey Club owns and operates racecourses including Aintree, Newmarket and Epsom.
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