I understand that the the profits accruing from British racing and betting cannot be shared between the two industries on a friendly basis because there isn’t enough money (and/or good will) to satisfy both parties. For roughly 300 years a tragic drama has been unfolding: Racing and Betting have chosen to pretend that they love each other. They don’t.

Having watched that painful process for 300 years, the rest of the world has given up the concept that a great chunk of the business enacted on racecourses belongs to the betting industry. It doesn’t. The world’s judiciaries, followed by the world’s governments, have looked into the matter and have been unanimous: the betting industry has no God-given right to a penny of the cash generated on racecourses. So changes have been made, and the finances of racing industries in the rest of the world have greatly improved.

In that scenario, could the betting industry have a role? Certainly – on a Landlord/Tenant basis, at a price set by the Landlord, which would be the Racing industry.

Britain’s Racing, however, has done almost nothing to escape Betting’s warm embrace and as a result goes from one financial crisis to another and will continue along that road until it falls over the cliff towards which it is heading.

Is there any escape from disaster? Oh yes. The rest of the world has found it, uses it and loves it.

Shall I say that again? All round the world (except Great Britain) the facts of life have been reviewed and where necessary altered and the new arrangements suit world-wide racing far better than a perpetual crisis and the constant need to haggle with an uninvited “partner” whose ambition is to give the minimum and to take the maximum.

Big problem? If the whole world (apart from GB) can move from one system to another, legally and in a comparatively short period of time, it cannot be that difficult.

In fact there is something delightful about British Racing’s dilemma. Recently the British government has been making noises about excessive gambling being disastrous for those who become addicted to it. Well, if that is so (and it is) there could be no better way of reducing the amount of noxious gambling that is being served up to the British public than by reducing to a fraction the input that the betting industry contributes to the Racing/Betting mix.

However, before any progress can be made there is work to be done: Racing must give notice to the Betting industry that it is no longer welcome on Racing’s sovereign territory, the Turf. The bookmakers will certainly throw their toys out of the pram at the prospect of losing so much unearned income, but that’s the way this cookie tends to crumble, and it is long overdue.

Racing will also have to convince the government that the bookmakers’ “parliamentary lobby” must become a thing of the past, preferably without too many bookmakers and MPs having to be locked up.

Every worthwhile racing country on the planet has been down this road and has proved that the initiatives I refer to have proved beneficial not just for its racing but also for its national exchequer and for its population.

What about Britain’s Betting industry? It will have to adjust to the role of Tenant rather than Partner, if and when it wishes to do business on Racecourses.

Will it be easy? Sadly no. Racing has for some reason decided that the BHA will represent the industry in any negotiations. Is that bad? I am afraid so. Within minutes of the decision being taken the Chairman of the BHA announced that he will be stepping down in 2025 and the Chief Executive has said that she will retire at the end of 2024. Not the sort of leadership that inspires confidence, but all that the BHA has to offer.

Months ago, when the seriousness of British Racing’s situation became apparent, Sir Antony McCoy said that Racing needed “a Barry Hearn”, referring to the almost magical transformation which that amazing man brought to the snooker table and more recently to what is known as “the Ockey” (Darts).

Sir Antony was absolutely right. Has Mr Hearn been approached by Racing? If not, he should have been. If he has been approached, and has said “Thanks, but no thanks” Racing should try again.

I remember Mr Hearn being asked by a reporter what he thought of the unfortunate situation in which Racing finds itself. He said that a rescue operation would require a great deal of “bravery”, currenjtly not the BHA’s strong suit.

Coincidentally, just last week the great and the good of the world’s racing industries had a conference. Hong Kong’s Chief Executive Winfried Engelbrecht-Bresges, probably the brightest operator in the racing world, suggested that British Racing’s position was particularly difficult “because of the way the sport is structured” in Britain.

So that’s settled: British Racing is in real difficulty, and the need for the best people and only the best people to apply themselves to fundamental re-structuring should be treated as a matter of some urgency. So far only one man of substance has put himself forward: Peter Savill, who ran the BHA for six years (1998 -2004) and did much that was good. Personally, I would like to see Nevin Truesdale, CEO of the Jockey Club, involved in “re-structuring”. His handling of the difficulties that surrounded the 2023 Grand National was very impressive.

I would be delighted to see Sir Antony McCoy conferring with Hearn, Savill and Truesdale. Maybe the horsemen will not persuade Hearn to sign up, but I have no doubt that he would give the others plenty to think about. I would also supplement Fred Done, master of Betfred Bookmakers, who has run the Tote magnificently for ten years, and a warrior to his fingertips.

Is that all? No. I am not happy with the performance of the BHA’s Selection Committee. In particular I suspect that the military do not get invited to apply for the top jobs in racing. Military jobs are so few and far between for “colonels and above” that senior soldiers are invited by their employer (the government) to look beyond the military for further employment. A Major-General in his fifties may well be accustomed to dealing with 80,000 soldiers when the crunch comes. So a racing industry amounting to 85,000 employees will not prove beyond his control. In addition plenty of soldiers enjoy racing and recognise boats that need rocking – like, for example, the wretched BHA.

Best wishes, Donec.