Arena offers £320m for TV rights

Arena Leisure, the six-track racecourse group which recently made an audacious multi-million pound bid to take control of racing's interactive rights, has now extended its plans to taking in terrestrial TV as well.

The Arena group's offer guarantees UK racing a total of £320 million over ten years for a world-wide exclusive licence which would involve racing coverage already being provided by the BBC and Channel 4.

However, the pictures of meetings that go into the nation's betting shops would not be affected by the bold new plan.

The UK's 59 racecourses have been requested to respond to this revised offer by 10 October.

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 company's offer. During this period Arena and the Racecourse Association (acting on behalf of the country's tracks) will negotiate contractual matters. In addition, Arena - headed by chief executive Graham Parr - will require to undertake a substantial equity fund-raising to cover the start-up and initial investment costs of the project. The offer also remains subject to contract and shareholder approval.

Martin Pope, chairman of Arena, said: "Over the last few months we have had a very constructive dialogue with the Racecourse Association. 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."

However, the proposers may have their work cut out to persuade the BBC and C4 that they would be better on board the Arena boat and the wooing of the country's race tracks will not be plain sailing either.

Rod Fabricius, general manager at Goodwood, which stages a lot of high class coverage via the BBC at his showpiece course, including the five-day Glorious Goodwood fixture, commented: "On a point of principle this track would obviously want to deal personally, one to one with its broadcaster. Hopefully, the Arena document would allow for that to happen."