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GREYHOUNDS: Uncertainty over GRA's future
Oxford Stadium’s owners, the Greyhound Racing Association, face a period of uncertainty at their five tracks after failing to meet a £49m loan, which expired last year.
The group showed a slight improvement in trading last year, but even though turnover rose narrowly to £18m, they still recorded a loss of £1.2m.
Ben Redmond, a director at the Capital Risk Partners who own the GRA, said they plan to attract new customers by improving the food on offer at the dog tracks.
However, the auditors issued a warning over the group’s future because of its failure to meet the terms of the loan, which expired in November.
The number of meetings hosted by the GRA last year rose to 1,070, with attendances up by six per cent to 628,000.
There was, however, a 13 per cent decrease to 127,000 diners in the restaurants and executive suites.
The group paid £2.3m interest on the loan last year, and have assets of £40m.
l IT appears that unattached private trainers are queueing up to run hounds at Cowley.
Following Andy Loveridge’s appointment last week, John Higgins, from Maidenhead, and Reading’s Ron Peckover will join the fold without being attached to Oxford.