Deadline for £400m media deal extended

Today's deadline for the conclusion of negotiations between the Go Racing consortium and the Racecourse Association over the £400 million media rights deal is expected to be extended to 17 January.

The revised schedule is because of an investigation into claims of irregularity involving 12-track operator and Jockey Club subsidiary, Racecourse Holdings Trust, alleged to have taken place during the recent bidding process.

The consortium comprises Channel 4, BSkyB and Arena Leisure, multi-track owner and online pari-mutuel operator.

RCA chairman Angus Crichton-Miller said: "The extension is primarily about the fact that the inquiry has to be finished before we could do a deal.

"It is partly that the contract has taken longer, but the major point is the inquiry."