In the wake of last week’s news that the European Commission would stand aside if the Tote were to be sold at the estimated market value of £500m, instead of the proposed price of £200m, Betfair said to be considering assisting the racing industry in order that it can continue to own a significant part of the pool betting company.
“We have had discussions internally about a structure that would help the racing industry. Racing had hoped to purchase the Tote 100 per cent, but they have been told they can’t;” said Mark Davies, Betfair’s Communications Director.
“Therefore, there is a risk of the racing industry getting none of the Tote and we are seeing if we can go into a partnership in which the industry can own a significant part of it,” he added.
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