19 SEPTEMBER 1998, Page 30

Horses for courses

CAPTAIN Threadneedle, my racing corre- spondent, buttonholes me in a state of high excitement. He wants us to buy a race- course: Windsor, he thinks, or if we can't run to that, Bangor on Dee. This long- priced bet is. the surest thing, he says, since Nothing Venture won the Brooklesby. Once we own our course, we sell it — to Rupert Murdoch, or to one of the other feeders in the frenzy that his bid for Manchester Unit- ed has set off. Why should it stop at foot- ball? What's wrong with racing? Nothing, so its ruling body says, that other people's money wouldn't fix. We might even throw in a few horses. I find it strange that, having done away with tied pubs, we shall now have tied clubs, but as the captain says, there are horses for courses.