The Jockey Club to recruit a Chief Executive

31st March 2008

Paul Fisher appointed Chief Operating Officer of Jockey Club Racecourses

The Jockey Club announced today its intention to appoint a Chief Executive to lead The Jockey Club in developing its commercial role within British racing. The search has begun for a Chief Executive who will be responsible for delivering the Jockey Club's strategic and commercial aims by making the most effective use of the Club's extensive range of assets and interests. The Jockey Club family includes 14 racecourses, as well as 5,000 acres of land in and around Newmarket and Lambourn. In addition, The Jockey Club is soon to acquire The National Stud.

Jockey Club Racecourses stage many of the key events in the sporting calendar, including this week's John Smith's Grand National meeting, along with the Cheltenham Festival and four of the five Classics. The Jockey Club through its racecourse group is the major shareholder in Racing UK and is also a key partner in Turf TV.

Julian Richmond-Watson, Senior Steward of the Jockey Club, said: "The Jockey Club has a key role to play in the future of British racing. The appointment of a Chief Executive and the accompanying restructuring is intended to enable The Jockey Club to make the most effective use of its extensive assets and interests."

Reporting directly to the Stewards, the Chief Executive's responsibilities will include chairing the Board of Jockey Club Racecourses, ensuring maximum value is obtained from the group's commercial and media rights, promoting the role of the Jockey Club in the public arena and developing relationships with key players in the racing and betting industries.

The review of the structure and governance of The Jockey Club and its racecourse group has taken place in parallel with an across the board review of the business at all of its 14 racecourses with the objective of reducing overheads and modernising operations. As from 1st July the Board of Jockey Club Racecourses will be comprised solely of executive directors and it was announced today that Paul Fisher, who was seconded from his role as Managing Director at Kempton Park to lead the racecourse review, has been appointed Chief Operating Officer of Jockey Club Racecourses with immediate effect. Until such time as The Jockey Club appoints its Chief Executive, Andrew Gould will continue as Acting Chief Executive of Jockey Club Racecourses focusing on the strategic and commercial issues currently facing the group.

Notes for Editors:

Founded over 250 years ago, the Jockey Club remains at the heart of British racing. The Club is now focusing on its commercial activities. All profits generated by the Jockey Club's businesses are re-invested back into racing. Including the imminent addition of the National Stud, The Jockey Club 'family' is comprised of:

Jockey Club Racecourses – a diverse portfolio of 14 racecourses, the group is responsible for staging four of the five Classics as well as the Cheltenham Festival and Aintree Grand National meeting.

Jockey Club Estates – a property and land management company responsible for over 5000 acres of land in and around the training centres of Newmarket and Lambourn, providing training facilities for around 3,000 horses, and an extensive portfolio of 90 properties, including the Jockey Club Rooms in Newmarket.

The National Stud – a purpose-designed stud on 500 acres of land at Newmarket, which is part of the Jockey Club Estates property portfolio. The National Stud's facilities include accommodation for eight stallions and up to 200 mares. Its range of educational programmes of stud staff are unique in Great Britain and provided free of charge to the Thoroughbred breeding industry.

Racing Welfare – the Jockey Club's own charity helping those who work or have worked in the racing and breeding industry.