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Irish Consortium Set To Buy UK Racing Post

Wednesday, 11th July 2007

An Irish consortium "is on the verge of acquiring the Racing Post newspaper (Britain's only racing daily) from current owners Trinity Mirror Group," reported bloodhorse.com. Investment company Festina Lente Partners (led by Peter Crowley & Neil Hughes) "is offering between £180-190 million (A$430-430m) for the newspaper". Former Racing Post editor Alan Byrne "is advising the Irish consortium, which consists mainly of property developers & is not connected to Coolmore". The Racing Post was founded in 1986 by Sheikh Mohammed & "he still holds rights to the title after selling the paper for £1 (A$2.40) in 1998 to Trinity Mirror, who then published the rival Sporting Life newspaper".

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