Arena Leisure have launched a #320 million offer over 10 years for total control of television rights to British horseracing.
The group that owns six of Britain`s 59 racecourses, including the three all-weather tracks, have upped their bid that will cover terrestrial broadcasting rights.
On July 31st, Arena tabled a bid worth #178m for a 10-year worldwide, exclusive licence to their interactive media rights.
This has been increased to #180m and the offer in respect to terrestrial rights is #140m.
Arena have asked the tracks to respond by October 10th and if an agreed level of interest is shown, Arena will be granted a period of exclusivity from those courses which have expressed a desire to pursue the offer.
During this period Arena and the RCA will negotiate definitive contractual documentation.
Arena chairman Martin Pope said: 'Over the last few months we have had a very constructive dialogue with the RCA. We feel confident that this revised offer, combined with our strategic vision for developing the media rights, will provide a secure, exciting and profitable future for British racing.'
Arena came into the running in July when Channel 4 and NTL subsidiary Premium TV have withdrew their #250m bid for exclusive rights for the media rights of Britain`s leading racecourses, the Super 12.
Shortly afterwards, the 59 courses agreed to pool their media rights with the British Horseracing Board in order to maximise income from their sale.
