Fans shut-out will cost racecourses over £75m
Jockey Club Racecourses expects revenue losses to exceed initial estimates of £75million, following the announcement that crowds will be absent for the near future.
Prime Minister Boris Johnson announced a number of new restrictions on Tuesday, because of rising Covid-19 infection rates, and called a halt to the pilot events for returning spectators to elite sport. He warned the new constraints could be in place for up to six months, raising the prospect of the Cheltenham Festival being behind closed doors.
Cheltenham is one of 15 tracks run by JCR, and group chief executive Nevin Truesdale is seeking further government talks as to how long restrictions may be in place and what support could be offered.
He said: “Previously we had estimated that revenues at Jockey Club Racecourses would be down this year by around £75 million out of an annual turnover that is normally circa £200million, but that figure is being revised upwards on the basis we won’t have any level of spectators back from Oct 1.”