Bloodstock Forum Created in Response to Industry Review

Representatives from key bloodstock and racing industry bodies have formed the Bloodstock Industry Forum in order to "maintain and improve confidence in the buying and selling of bloodstock in Britain."

The forum's creation was a key recommendation of the British Horseracing Authority-commissioned review into the bloodstock industry. The review, a version of which was leaked to the Racing Post last month, highlighted some major issues within the industry that threaten to undermine its future and reputation.   

The review's author, former top policeman Justin Felice, found that while the vast majority of bloodstock industry professionals operate honestly, a minority engage in unscrupulous and, in some cases, potentially unlawful activities.  

One of Felice's eight recommendations in the report was the creation of a forum comprising the BHA and industry representatives, suggested as a means to implement Felice's other recommendations, which include the introduction of a more robust bloodstock code of practice.

The forum was established at a meeting Sept. 19 in Newmarket attended by representatives from the Federation of Bloodstock Agents, Goffs, National Trainers' Federation, Racehorse Owners Association, Tattersalls, and Thoroughbred Breeders' Association. All those organizations in attendance are now forum members.

The BHA, which Felice recommended should become the regulatory body of the bloodstock industry, was a notable absentee from the meeting. According to a statement from participants, the BHA "was not represented at the meeting while they continue to conduct internal investigations into the leak of their own confidential report."

The forum will meet regularly with the aim to maintain and improve confidence in the buying and selling of bloodstock in Britain. An overhaul of the bloodstock code of practice is also being worked on.

Once completed, the code will feature in all Tattersalls and Goffs catalogs, be incorporated into all Tattersalls and Goffs vendor and purchaser signed agreements, and be adopted by the forum members.

"The Bloodstock Industry Forum is up and running, and genuine progress has been made at the first meeting," said Tattersalls director Jimmy George, who chaired the meeting. "All of the participants are, and have always been, wholly committed to the fundamental aim of renewing and strengthening the bloodstock industry 'code of practice' and to maintaining the global reputation for integrity that is central to the continued success of the British bloodstock industry."

Despite the BHA's absence from the first meeting, British racing's governing body could be represented when the forum next convenes.

"The group will meet again in October, hopefully with renewed BHA participation, and is determined to sustain the momentum behind these important initiatives," George added.

Felice also recommended the forum should strive for harmonization with Ireland, a view shared by Goffs chief executive Henry Beeby, who attended the initial meeting.

"The British and Irish bloodstock industries are, in effect, one industry working to one standard with vendors and purchasers from both countries interacting seamlessly at Goffs and Tattersalls sales on both sides of the Irish Sea," he said. "It is therefore intended that the Bloodstock Industry Forum will fully engage with representatives of the relevant bodies in Ireland to deliver a collaborative approach to ensure one high standard is maintained across all our sales regardless of location."