At The Races today announced that, along with partner SIS, the Company has agreed terms for a new media rights deal with Horse Racing Ireland and the Association of Irish Racecourses that will cover the period from January 2014 to December 2016.
Under the terms of the new agreement ATR will have exclusive, cross platform, non-LBO media rights worldwide to all Irish fixtures. SIS retains all domestic and international betting shop rights under the terms of its current contract with HRI.
The new agreement includes significantly improved terms across multiple media rights revenue lines. At The Races forecasts that its returns to Irish racecourses will more than double in 2014 versus the returns it generates in 2013 for current rights holder SIS. Further growth is anticipated through the term of the agreement from both domestic and international services, particularly via online and new media channels.
As part of the new partnership, ATR has offered HRI/AIR the opportunity to take up a seat on its board. All parties view this as a significant and important new development that will help further the effort to coordinate and align strategies and keep the Irish racing industry integrally involved in the management and direction of its rights exploitation.
Matthew Imi, Chief Executive, At The Races, said:
“We are delighted that our relationship with Horse Racing Ireland, the Association of Irish Racecourses and all twenty six tracks will be continuing next year and beyond.
“Irish racing forms a significant part of our business and since 2004 an important partnership has formed to which we, our shareholders and UK racecourse partners attach considerable value.
“Individually, each of the Irish racecourses has its own characteristics and requirements from us as their media partner and we work very hard to ensure that our business objectives are firmly aligned with theirs.
“Collectively, the racecourses offer a consistent and high quality schedule of Flat and Jump racing across the year which our domestic and international audiences and commercial partners find increasingly attractive.
“HRI and AIR made it very clear that not only did they feel ATR had done a great job monetising their rights across our current distribution platforms but that they were also excited about the long term potential of the business and we look forward to welcoming their representative onto the ATR Board as we start to roll out our growth strategy.”
Paddy Walsh, Chief Executive, Association of Irish Racecourses, said:
“I am very pleased that the AIR, on behalf of all our racecourses, has now agreed terms with ATR/SIS in relation to the sale of the non-LBO rights that we recently offered to the market.
“This new deal extends our long standing arrangements with both At The Races and SIS and I look forward to all parties benefiting from the partnership approach that we have always adopted in the past.”