British racing`s on-going media rights negotiations between television companies and the racecourses could be nearing their conclusion, it emerged today.
Bids totalling #400 million each from Carlton and Go Racing - a consortium involving Arena Leisure, BSkyB and Channel 4 - have deadlines of this evening and Monday respectively.
However, the Racecourse Association has advised its 59 members not to take up either of the two offers yet.
Stephen Atkin, chief executive of the RCA, said: 'It depends on both bidders whether they stay in the race but it would be very disappointing if one or both did withdraw their offers. It`s a risk we have to take.
'There is a deadline with Carlton`s offer of exclusivity but it is not a contract offer.
'We have advised our members that both offers are very serious proposals but it`s not in our interests to get involved in a period of exclusivity with either party while there are certain issues outstanding. These issues can be resolved.
'We are in negotiations with both parties to get some detail on contract. There are two sets of negotiations currently running in parallel.
'We need contract offers before we can decide which one is the most suitable for our members.
'The end is in sight but how close I`ve no idea.'
There will be a meeting of representatives of the 59 racecourses on November 21st and Atkin went on: 'There is a forum at Haydock and we will make use of the opportunity to bring our members up to speed on the negotiations.'
