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UK "Will Continue To Lose Owners Until Returns Rise"
UK Racehorse Owners' Association chief executive Richard Wayman declared his organisation's efforts to retain owners & attract new ones to the sport "were akin to trying to push water uphill, as he pointed to figures that showed the average cost of running a horse in just one race amounts to more than £3,000 (A$4,500)" reported racingpost.com. Wayman said a survey conducted into the expense involved in keeping a horse in training made for "depressing reading" & showed the average cost of owning & running a horse in 2010 was £20,264 (A$30,400) on the flat. Prize-money won by those horses "enabled the owners polled to receive a net return on costs of just 21%" (the same recovery figure as in the previous survey in 2007); that "compares to cost-recovery of 22% in Ireland, 54% in France & 63% in Japan". Wayman noted: "Until the net returns for owners are improved I have no doubt the sport will continue to lose owners & see horse numbers fall. For the last few years, owners have been faced with an environment of declining prize-money but rising costs & I am sad to say, it is rare a day passes at the ROA when we don't hear from another member who has decided, usually with much regret, to get out of racehorse ownership."