Jockey Club hits £15m target

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Horseracing fans have backed a £15 million bond scheme that offers interest and discounts on tickets in return for helping to pay for the redevelopment of Cheltenham racecourse.

The Jockey Club hit its investment target for the bond and will take applications until Tuesday to mop up additional demand.

The five-year bond pays gross interest of 4.75 per cent, while investors can also sign up for reward points, worth an extra 3 per cent a year, to use towards tickets, food and drink at the Jockey Club’s 15 courses.

Paul Fisher, group managing director of Jockey Club racecourses, said: “To raise more than £15m and counting in just over three weeks from our first foray into consumer finance makes us incredibly proud.”