Under starter’s orders

Christopher Fildes on the business dealings at Newbury

Forget Cheltenham. That was just a warm-up. The big meeting next week is at Newbury, and it will have everything — fierce contests and driving finishes and bitter objections and stewards’ inquiries and prize-money running well into eight figures — everything, that is, except horses.

Trooping into Newbury Racecourse on Wednesday morning, its shareholders will find themselves invited to sack three directors: Nicholas Jones, Brian Stewart-Brown and Sir David Sieff, the chairman. All three are boardroom heavyweights and two of them are members of the Jockey Club, but the Guinness Peat Group wants them out and wants one of its own directors, Richard Todd, in. With more than a quarter of the shares in its own hand, GPG has requisitioned a general meeting and will put its resolutions to the vote. In this race the prize, in all but name, is control.