Sir: Peter Oborne makes the usual mistake of confusing the
thrills, atmosphere and massive prize money of the Cheltenham Festival with the realities of a wet Monday afternoon at Plumpton. As someone who manages racing partnerships, I can tell you that every time one of our horses runs it costs a sum not far removed from £2,500. The net prize money available to us on the unusual day that we win a race rarely exceeds that amount.
Peter Savill, the president of the Race- horse Owners' Association, who incidental- ly is not a tax exile but happens to earn all his money in the Caribbean, has come up with a highly intelligent and innovative financial plan that deserves better consider- ation than Oborne has given it. Is he relat- ed to the British Horseracing Board's for- mer and unlamented chairman Lord Wake- ham by any chance?
Nick Robinson
Kennet Valley Thoroughbreds, Coopers Farmhouse, Bell Lane, Ellisfield, Basingstoke, Hampshire
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