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Gala Coral out of Tote bid? reports telegraph.co.uk
Only four runners left in the Tote Stakes after Gala Coral drop out
Perhaps after the runners were known they didn’t like the make-up of the field or the conditions of this ‘race’.
The runners and riders make interesting reading. Fred Done, with his expanding empire, is favourite in betting on the event. Also in the field are the Reuben Brothers, former BHB chairman Sir Martin Broughton’s group and the Racing Foundation.
Make no mistake, the Racing Foundation bid, in which Tote executives Mike Smith and Trevor Beaumont are involved, looks attractive for the sport itself. It is structured as an independent foundation with three trustees, who own the shares, and has the advantage of charitable status.
There was much celebration when ‘Racing’ was reassured that it would share the proceeds of the sale with the Government. Of course, nobody has ever given a satisfactory answer on who actually owns the Tote nor who ‘Racing’ is.
But a 50-50 split of what could amount to £100 million or more sounds far more attractive than missing out totally. Rejoice, but please, only after the recipients have been identified.
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