British racing's media rights deal, the Stg£307million contract that is designed to guarantee the future prosperity of the sport, has finally been passed by racing's rulers.
A board meeting of the British Horseracing Board last night gave the assent to the contract, granting Go Racing a licence for the use of pre-race data vital for proposed new interactive betting facilities.
The board also ratified chairman Peter Savill's future funding plan for the replacement of the current Levy system through which bookmakers contribute to racing.
The deal with Go Racing - a partnership comprising of Arena Leisure, BSkyB and Channel 4 - has been under negotiation for two years and appeared to have collapsed at the start of this week.
Talks broke down on Monday because of disagreement over Go Racing's plan for an exclusive licence on the use of data on new technology, such as mobile phones.
The BHB has worried about giving up a long-term contract for rights for potentially lucrative new media too easily.
But further intensive discussions, frequently stretching on into the early hours of the morning, have seen both sides reach a compromise.
Go Racing is set to offer a package that includes plans to launch a 24-hour digital TV channel dedicated to the sport, while Channel 4 will launch a new lunchtime racing programme.
PA