Nick Rust named chairman of British horseracing price commission
Nick Rust OBE faces an early test of trust as chairman of the Starting Price Regulatory Commission amid a moment of conflict with on-course bookmakers.
UK.- The Starting Price Regulatory Commission (SPRC) has named Nick Rust OBE as its new chairman.
Rust, who was chief executive of the British Horseracing Authority (BHA) until the end of last year, will replace Lord Bernard Donoughue, who ended his 16-year tenure this week.
The SPRC is the main body that oversees the system through which starting prices are set for British horseracing fixtures.
Rust will face an immediate test in his new role because the commission has come in for criticism from on-course bookmakers for its decision that all racing starting prices will be determined using “mainly off-course mechanisms”.
The SPRC said the change would better reflect current UK betting markets as a whole, but on-course bookmakers argue that it puts them at a disadvantage as British racecourses prepare to welcome back spectators from May.
Earlier in the year, Rust raised concerns over the impact of tighter betting affordability checks on the horseracing sector.
Rust received an OBE in the Queen’s New Year’s Honours list for his services to horseracing. During his tenure at the helm of the BHA, he led the Horserace Betting Levy Board’s (HBLB) renegotiations to reform racing’s statutory betting levy, which saw licensed bookmakers commit to new funding terms.
Rust has been replaced at the BHA by former British Cycling CEO Julie Harrington.
Lord Donoughue backed Rust’s appointment at the SPRC, saying he had a deep understanding of racing dynamics.
Rust said: “I’m delighted to be joining colleagues on the Board at the SPRC, and look forward to working with them to continue to assure people who bet on racing and betting operators alike of the robust integrity of the Starting Price.
“I’d like to thank Lord Bernard Donoughue for his vision in establishing the SPRC and his 16 years of stewardship in chairing the organisation.”
