The new racing season was fixed to start on 9th April 2022, but the Horse Racing Division (HRD) met with the trainer on Friday. They expressed their concerns as most of their horses suffered from the lack of training due to the bad weather condition during the last month. The HRD complied with their request to delay the start of the new horse racing season and the first meeting has been rescheduled to the April 23. The HRD will have to work on a new calendar.
Moreover, the HRD has stressed that it is waiting for MTCSL to send all documents needed by the 25th of March 2022 to complete its application to obtain a licence as a Horse Racing Organiser.
MTC Sports and Leisure Ltd (MTCSL) has submitted to the Horse Racing Division (HRD) an application dated 7th February 2022 to be licensed as a Horse Racing Organiser for the 2022 racing season. Was also subsequently submitted a covering letter dated 8th February which contained an undertaking in writing to the effect that the audited financial statements of MTCSL would be ready by the 28th of February 2022 and that a certificate of solvency from their auditors would be submitted to the Horse Racing Division. These constitute essential due diligence documents to establish MTCSL’s state of solvency as a public company as per the requirements of the law. The HRD reviewed the application while waiting for the MTCSL to submit all the missing financial documentation. Since the application was incomplete, the HRD was not in a position to properly consider and process the application as per the law.
The MTCSL did not submit the financial documents which they promised for the 28th of February. Following that missed deadline, the HRD issued on the 8th of March 2022 a letter to the MTCSL requesting once more for the financial documents to be submitted together with other relevant required information by the 11th of March 2022.
On 10th March 2022 the MTCSL sent a correspondence requesting a postponement of the deadline to end-March 2022 to be in a position to submit the required financial documentation and to address the various points raised by the HRD to complete their application.
On the same day, the 10th of March 2022, the HRD replied that in all good faith it is giving the MTCSL a final deadline of Friday 25th March 2022 to submit all their missing information and documentation requested in the letter of 8th March 2022 so that the HRD may properly consider and process the application of the MTCSL to be a Horse Racing Organiser for the 2022 racing season.
The HRD remains confident that the 2022 season will go ahead whatever may happen.
