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Alan Morcombe leaves Horsemen’s Group

17 Dec

Today’s news that Alan Morcombe’s consultancy role at Horsemen’s Group comes to an end should be well received by all with the interest of the sport at heart, Press Association copy below:

Alan Morcombe’s consultancy agreement which has seen him perform the role as chief executive for the Horsemen’s Group will come to an end on December 31.

Morcombe’s reign has overseen such initiatives as the Horsemen’s Group tariff which was seen as integral to ensuring increased levels of prize-money.

“I have enjoyed my consultancy with the Horsemen’s Group and wish them the very best for the future,” said Morcombe.

“When I first got involved with racing I was unaware of the splendour of the sport and the dedication shown by many of the professional horsemen involved in it.

“The last two years have been an educating experience and I leave the Horsemen’s Group in a stronger position than when I started thanks, in part, to the enormous commitment and support I have received from the executive of the member organisations.”

The group is looking to appoint a new chairman for 2013.

But at what cost?

Here’s an extract from a piece in Racing Post on the 25th August 2012:

He claimed that, while the cost of running his organisation since April 2010 had been approximately pounds 1.1m.

Horsemen Limited Accounts Year Ending June 2011 details Ambrose Consultancy Ltd (Alan Morcombe is the sole Director) were paid £270, 608 in consultancy fees, so that’s just the 25% then Alan. It’s even worse if we consider that there is every possibility that Alan was basing these costs against the draft June 2012 accounts, which are still to be published, yet if we have a ball park fee of £250k for 11/12 fees, then that 25% becomes 47%.

So what does “consultancy agreement will come to an end on 31st December 2012” actually mean? Well first we need to see the original agreement, I hope that in the coming days the trade paper, and other journalists will look into getting copies of this. If the agreement was rolling, then that’s fine, but what if it was a 4yr deal, or 5yr deal…then Ambrose Consultancy Ltd is likely to be compensated further.

If it is the latter, then Alan Morcombe via Ambrose Consultancy Ltd has taken the best part of £1m out of British Racing, has left Horsemen’s Group with a £500k loan where repayment to the BHA is still to be agreed by the two parties – (was the cash used to settle any Ambrose Consultancy Ltd fees?) and no Chairman due to differences between him and the Chairman Designate Philip Freedman. Questions need to be asked about all parties involved with the Horsemen’s Group currently and previously, and Alan Morcombe’s initial appointment. I hope for the life of me the decision wasn’t left with Paul Dixon, and him alone. Anyway back to Alan…

“I have enjoyed my consultancy with the Horsemen’s Group…” said Morcombe.

I bet you ******* have “mate”, now jog on.

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Posted by on December 17, 2012 in Uncategorized

 

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