British Owners and Breeders Incentive Scheme launched
The British Horseracing Authority (BHA) has announced that its proposal for a new prize money incentive scheme is set to be implemented in time for the 2013 flat season.
Entitled the British Owners and Breeders Incentive Scheme, it has been developed in conjunction with the Thoroughbred Breeders Association and will offer prize money incentives of up to £6,000 to connections of any two to three-year-olds nominated to the scheme.
This could see up to £2.93 million per year being returned to participating owners and breeders throughout Britain.
Chief executive of the BHA Paul Bittar said it is hoped that the scheme will encourage further investment in British horses and also stimulate racehorse ownership in this country.
"In order for the scheme to be successful it needed backing from the racing industry, and as such we are pleased that the scheme has received universal support," he continued.
There is a two-stage qualification process to be eligible for the scheme that includes registration and then the nomination of a yearling or two-year-old.