The thoroughbred breeding
industry
Joe Grimwade
Stud Management Advisory Ltd.
Championing the future of the British Thoroughbred l thetba.co.uk
Stud FarmingThree Primary ‘Activities’
*Flat / National Hunt / Both (Dual)
Owning Stallions
Owning Property (Studs)
Owning Broodmares
Championing the future of the British Thoroughbred l thetba.co.uk
Championing the future of the British Thoroughbred l thetba.co.uk
Stallions covering more than 100 mares
Weatherbys figures as at 31/12/18
2220
22 2123
2826
77
5456
62
67
74
67
2008 2010 2012 2014 2015 2016 2017
GB Ire
Championing the future of the British Thoroughbred l thetba.co.uk
MATING PLANS
Breeding the racehorse – a long term investment
MARE COVERED/PREGNANT
FOAL BORN
YEARLING
TWO-YEAR-OLD(JUMPS –STORE)
THREE-YEAR-OLD+(FLAT & JUMPS)
2019
2020
2021
2022
2023
2024 +
RETIREMENT
Foal Sales
Yearling Sales
Breeze-up Sales
Breeding Stock Sale
TWO-YEAR-OLD(FLAT) Horses in/out training
sale
RA
CIN
G A
GE
To Stud
Championing the future of the British Thoroughbred l thetba.co.uk
Owners of registered broodmares
4721
4206
3648
3221 3226 3296 3318 3307
10106
7781
64916239
65086777 6830 6762
2008 2010 2012 2014 2015 2016 2017 2018
GB Ireland
Weatherbys figures as at 31/12/18
Championing the future of the British Thoroughbred l thetba.co.uk
Championing the future of the British Thoroughbred l thetba.co.uk
Championing the future of the British Thoroughbred l thetba.co.uk
Championing the future of the British Thoroughbred l thetba.co.uk
Intended Career Statistics – GB & IRE
2005
Flat
Jump
Dual
Other
43%
39%
17%
IRELAND
GB
60%16%
13%11%
2005
Flat
Jump
Dual
Other/U
77%
13%10% 0.4%
2018
Flat
Jump
Dual
Other/U
Weatherbys figures as at 31/12/18
2018
Flat
Jump
Dual
Other
30%
14% 1%
55%
1%
Championing the future of the British Thoroughbred l thetba.co.uk
Stud Farming Employing 3,500
Indirect employment of a further 15,500
veterinary surgeons
physiotherapists
dentists
farriers
horse transporters
bloodstock agents
auction houses
pedigree experts
pedigree analysts
insurers
agricultural contractors
agronomists
nutritionists
lawyers
accountants
feed suppliers
hay & bedding suppliers
stud equipment suppliers
tack shops
builders
machinery suppliers
fertiliser suppliers
fencers
security services
Stud Manager
Yard Managers
Foaling Manager
Yard Staff
Students
Maintenance Staff
Secretary
administrators
stable waste handlers
Championing the future of the British Thoroughbred l thetba.co.uk
Great Britain’s horseracing industry is world-class
World-class race calendar
In 2017, Great Britain (GB) hosted 24 of the world’s top 100 races, providing an unparalleled stage for the world’s best horses
Leading thoroughbreds
GB has the highest proportion of world-class thoroughbreds relative to the total number of thoroughbred births, indicating quality bloodlines and training
Substantial economic contribution
The total economic contribution of horseracing to the UK economy is estimated to be in the region of £3.5 billion, with over 85,000 jobs supported by the industry
Horseracing is loved by the British public. Almost 6 million people attended race meetings in 2017, making horseracing the second most attended sport in the UK after football
Second most popular sport in Britain
Championing the future of the British Thoroughbred l thetba.co.uk
PwC estimate that in 2017 the thoroughbred breeding industry contributed £427m to the UK economy and supported over 19,000 jobs
Championing the future of the British Thoroughbred l thetba.co.uk
British breeders
•Supply 46% horses to race in Britain
• Ireland = 44%
• Other = 10%
•4,826 foals in 2018 (14,000 HIT)
•Rural impact
•Contribution to global racing
Championing the future of the British Thoroughbred l thetba.co.uk
Sustainable breeding industry = stronger racing industry.
Sustainable
ProfitableMeasured growth
Adaptive/ResponsiveDiverse breed
Improved quality of
bloodstock
Increased prices &
demand at sales
More attractive & competitive racing product
Increase in betting
turnover
Increase in Levy yields for re-investment
to industry
Increase in Levy yields for re-investment
to industry
Increase in betting
turnover
Championing the future of the British Thoroughbred l thetba.co.uk
HIGH VALUE
TURNOVER
LOW VALUE
TURNOVER
RACING BREEDING
Progressive
Racing
Industry
Conservative
Racing
Industry
Championing the future of the British Thoroughbred l thetba.co.uk
• Thoroughbred Breeders’ Association
• European Breeders’ Fund
• Race sponsorship & donations
How does the Breeding Industry Contribute?
Championing the future of the British Thoroughbred l thetba.co.uk
“The contribution that the British EBF makes to the sport through prize money and sponsorship is tremendous. Of particular value is the support for both fillies and stayers, two areas of the British thoroughbred breed that the industry must invest in, to ensure a healthy and vibrant future as an integral part of the racing programme and to maintain the great diversity that exists within the sport.”
Nick Rust, Chief Executive of the British Horseracing Authority (BHA).
• Contributed £31.5 million since 1983
• Around £1.7 million per year
• Third largest sponsor of horseracing in Britain
• Funded by stallion owners
Championing the future of the British Thoroughbred l thetba.co.uk
TBA charitable objectives
Education and training• Training courses/seminars/educational articles
• Recruitment / careers promotion
• Employer support
Veterinary• Health and welfare
• Disease surveillance and control
• Stimulate and support veterinary research
• Advice and guidance
Promotion and preservation of the thoroughbred• Promote British-bred horses
• Generate interest in the business of breeding
• Support and maintain diversity of the breed e.g. fillies, stayers
Championing the future of the British Thoroughbred l thetba.co.uk
TBA member benefits
Knowledge Community SupportSeminarsCourses
CPD
TOB MagazineNewsletters
EBN
Buying GroupPost mortem subsidy
Codes of PracticeVeterinary notices
EventsRegional Days
Stallion ParadesRegional Forums
Legal AdviceHealth and Safety guidance
HR/Employer Guidance
PublicationsFact sheets
Stallion GuideReference library
Veterinary Articles
Racecourse badge SchemeRace badges
Annual AwardsBreeder of the month
Bloodstock taxation GuideVAT Hotline
Away from home liability insurance
Championing the future of the British Thoroughbred l thetba.co.uk
Representing breeders’ interests
• Lobbying of UK and EU Governments
• Working with All Party Racing and Horse Groups
• Briefing civil servants at DEFRA and DCMS
• Breeder representation on HG and BHA committees
• EFTBA and ITBF
• Representing breeder issues to Sales companies
• Representing breeder issues to Weatherbys - GSB
Championing the future of the British Thoroughbred l thetba.co.uk
NH Mare Owners’ Prize Scheme
Aims to:
• Improve demand at sales for GB bred/sired
NH fillies
• Support the mares’ NH racing programme
• Encourage owners and trainers to race mares
• Ensure mares are tested as NH racehorses
prior to their breeding careers.
Championing the future of the British Thoroughbred l thetba.co.uk
Stayers Working Group
• Essential we halt the decline of the staying horse
• Study into British stayers and staying races
• Consultations with BHA
• BHA provides the programme framework to encourage this type of horse
• Working Group to effect change
• Marketing to change perceptions
Championing the future of the British Thoroughbred l thetba.co.uk
The Thoroughbred Club The industry club for young breeding and racing enthusiasts
To encourage and foster a passion for thoroughbred breeding and racing:
• Membership for 16 – 35 year-olds• Educational opportunities, social events and forums • Industry publications• Careers guidance• Race day experiences• Behind the scenes visits to studs, sales and racing yards
thethoroughbredclub.co.uk
Championing the future of the British Thoroughbred l thetba.co.uk
Current Challenges
• People
Recruitment, retention and training
Mental health, safeguarding, diversity
• Equine Health and Welfare
Welfare – traceability
Life after racing
Disease threats
• British breeding
Diversity of the breed – stayers
Horse population
New breeders
Championing the future of the British Thoroughbred l thetba.co.uk
Brexit
• Commissioned a report to identify issues
• Highlighted 4 key concernso Horse movement and transport
o People movement and employment
o Taxation
o Zootechnic and welfare matters
• Developing a strategy
• Putting resource in place
• Bring stakeholders on board
• Objectiveso Maintain free movement
o Ensure common movement, transport, health, welfare, zootechnical and equine ID policies across Europe
o Free movement of people working in thoroughbred industry
Championing the future of the British Thoroughbred l thetba.co.uk
Brexit – Key Statistics
• The British thoroughbred industry is worth £3.5 billion and supports tens of thousands of jobs
• 26,000+ thoroughbred movements are facilitated annually for racing, breeding and sales purposes under the Tripartite Agreement, in place since before the UK joined the EU, and has evolved within it
• Over 50% of the annual Irish thoroughbred foal crop is exported to Britain annually
• Approximately 11% of British racing’s workforce in yards is from EEA countries
Championing the future of the British Thoroughbred l thetba.co.uk
Any Questions?