Racing Foundation releases 2021 annual review video announcing £7m of funding
The Racing Foundation delivered more than £7million in funding to the industry in 2021 – the largest sum the charitable foundation has handed out in a single year.
It means that since its inception in 2012, the Foundation’s total giving has now hit the £30m mark as it looks to make a difference in racing by acting as a catalyst and a funder of improvement.
Of the £7m given by the Racing Foundation in 2021, £3m went to the Horserace Betting Levy Board to cover their charitable commitments, freeing up funds to support the industry with an increased prize money package.
Four hundred thousand pounds was provided in Covid emergency funds to assist racing charities through their ongoing recovery from the pandemic and over £3m of grants were distributed to four key areas of focus: people, equine welfare, community engagement and environmental sustainability.
These grants included the Riding a Dream Academy which offers scholarships and residential courses for young people from underrepresented communities.
Funding was also provided for every racecourse in Britain to receive an equine fracture support kit, a Racecourse Association initiative that offers a significantly enhanced degree of comfort and chance of rehabilitation for injured horses.
Additionally, working with other funders, the Racing Foundation supported the award-nominated National Racehorse Week – a community project which encouraged the public and a number of school groups nationwide to visit their local racing yard.
In 2021 some progress was also made outside of funding; the Racing Foundation was proud to drive industry awareness of environmental sustainability, prompting media discussion across racing publications and instigating an industry-wide assessment to pre-empt an industry strategy.
Rob Hezel, Chief Executive of the Racing Foundation, said: ‘In an ever-changing world, we must be able to respond quicker to drive improvement in order to maintain the sport’s social licence and ensure its sustainability.
‘The Racing Foundation will continue to challenge, collaborate and support our industry partners to protect the economic, social and environmental health of the sport and its future.’
Find out about the Racing Foundation’s upcoming industry conference here.