David Thorpe, Racecourse Association chairman, has warned the United Kingdom’s horse racing industry that it could lose up to 40 percent of sponsorship funds because of the recession, according to the International Herald Tribune.
”The economic situation is working against us, but the racecourses aren't going to take it lying down,” Mr. Thorpe was quoted by the Tribune as saying.
“They have to be creative and innovative with their sponsorship, but it is a circular argument in that we have to -- have to -- get the broadcast and terrestrial television rights to make it attractive,” Mr. Thorpe added.