Racing Post Tips

A big Racing Post tip is now out of the bag and it has been sold for a massive £170 as the only daily Racing paper is set to change ownership sometime next week in a deal believed to be worth in the vicinity of £170 million.

Trinity Mirror bought this paper in the late 1990 for £1 from Sheikh Mohammed, who started the newspaper in 1986. They have seen off all rivals over the years and last year the Sportsman was the latest rival to hit the dust after less than a year trying to build market share showing how difficult it is to take on a paper that has developed a stranglehold on the racing public both in the UK and Ireland.

The prospective new owners are a group of racing-friendly Irish investors coming under the banner of FL Partners. They have been advised on the venture by former Racing Post editor Alan Byrne.

The expected announcement will surely come as some comfort for those employed by the newspaper as discussion on the publication’s future has been a constant theme for most of the year.

The Sheikh still retains ownership of the name and licences it out for use on the newspaper and its popular website.

Byrne, who has worked as a consultant to Sheikh Mohammed’s Godolphin operation since stepping down as editor, is now expected to play a pivotal role again at Racing Post under its new owners.