Attheraces asks for £50m rebate

net1

Satellite racing channel Attheraces said that it would seek more than £50 million (E70 million) in rebates from 49 racecourses as it formally terminates its broadcasting rights agreement.

Attheraces ceased broadcasting UK racing yesterday, but said it remained hopeful of securing a new agreement, and would continue to offer interactive betting while televising US racing in the evening.

Racing industry sources said the channel could struggle to reclaim the money. While the original £307 million 10-year rights deal with the courses does provide for rebates, Attheraces is only entitled to 50 per cent of the revenues from future broadcasting rights deals agreed by the courses. The channel has so far paid courses nearly £100 million for less than two years coverage.