Home » Racing & Sport » A Focus On Building Bridges

A Focus On Building Bridges

Lafferty refutes suggestions he is the new CEO

Gold Circle CEO, Michel Nairac, has responded to rumours that the KwaZulu-Natal operator had officially taken over racing’s dedicated channel, Tellytrack, while trainer Paul Lafferty has squashed weekend messages being passed along on Whatsapp forums that he was the man who would be managing a new, revamped DSTV #239.

Nairac told Turf Talk on Sunday: “Tellytrack is owned jointly by PGL, Gold Circle and Kenilworth and was managed by Phumelela as a cost centre along with several other business entities.

Hollywoodbets Greyville on Boxing Day (Pic – Candiese Lenferna)

“Several weeks ago, we at Gold Circle offered to take over the management of Tellytrack and also of the Phumelela International Division. Without the feed of our picture and our international revenue we won’t survive. We want to save costs and settle the war between Phumelela and bookmakers.

“Our aim is to sign up more bookmakers as subscribers to the Tellytrack feed, and as advertisers on the channel. Considering our own relationships with bookmakers, Gold Circle is in a better position to negotiate this. Our proposal was considered and accepted by our own Board, and the respective Boards of Phumelela and Kenilworth.

“Now, however, Phumelela has gone into business rescue and full control lies with the Business Practitioner, John Evans. He will be looking into all aspects of the business, making decisions for its future which includes hiring and firing. Our proposal stands as it is, and we’re hoping that the control of Tellytrack stays with racing people.”

Nairac said that everyone who has the interests of racing at heart should be aligning themselves to coherence and finding solutions at this time. He cautioned that industry players, racing fans and parties involved in restructuring should be careful in playing the ball and not the man.

“We have to keep the best skills for racing, in racing. We shouldn’t be insulting people and calling for their heads when all the facts are not known. There are valuable skills in our existing structures, representing years of experience which should not be lost to us in a future administration.”

Lafferty, meanwhile, said that his connection to a “new” Tellytrack went as far as discussing the Gold Circle proposal with his fellow-directors on the Board. “I have not been appointed as CEO of Tellytrack. That is complete nonsense,” he said.

  • Turf Talk

Have Your Say

Comments Policy
The Sporting Post encourages everyone to feel free to comment in the spirit of enlightening the topic being discussed, to add opinions or correct errors. All posts are accepted on the condition that The Sporting Post can at any time alter, correct or remove comments, either partially or entirely.

All posters are required to post under their real and verified names, you can adjust your display name on your account page or to send corrections privately to the Editor. The Sporting Post will not publish comments submitted anonymously or under pseudonyms.

The views of any individuals that are published are NOT necessarily the views of The Sporting Post.

12 comments on “A Focus On Building Bridges

  1. WILLIAM MILKOVITCH says:

    The ghost of George Steinbrenner – referencing Seinfeld

  2. Pops says:

    William,very interesting.And the moral of the story is…..

  3. Donald says:

    When I heard Laff say in the interview with James Goodman that G.C. had taken over Tellytrack I thought to myself ” that is a bit quick and quite a surprising ” and decided to reserve any comment based on that surprise !

    In the article above it now appears that this is in fact not the case and was only a proposal discussed and accepted by the G.C. board ?

    However , I was sure that Laff had stated as FACT that G.C. had taken over Tellytrack and was about to comment on how such a statement can be made by a director of G.C. and not be FACT but I thought let me go back and listen to the interview again to make sure of my FACTS as maybe I had misheard Laff ?

    Well , it turns out I had not misheard Laff and he does in FACT state that in the interview that ” G.C. have taken over Tellytrack ” ?

    In the circumstances I think Laff owes all of us an explanation !

  4. Singing boy says:

    One old boys club to another. Neither believe that the racing public has any right to know what goes on. Yet these same fools whom they wish to keep in the dark always are ultimately the same people they all depend on as an industry. Will always be a case of same old crap served by different waiters

  5. Singing boy says:

    During this lock down period, having viewed overseas livestreams and coverage and then comparing their pre race build up to our standatd ” we now move on to the number 2 horse from the cookie whitehead stable, he’s had 3 starts for 2 wins and a place and is ridden today by Arthur Marcus”….. As if talking to a bunch of illiterate blind punters, leaves much to be desired and gives one a sense of how far behind we are in terms of giving punters valuable information, other than what one can read in the raceard already.

  6. James Goodman says:

    The interview was done pre the Phumelela announcment.
    Paul only said what has been said in the article above and is borne out by such. Thanks to him for being his usual forthright self.
    We wait with anticipation as per Rocky Horror!

  7. Dave Other says:

    and the waiter will be wearing a mask to boot !

  8. Pops says:

    Amongst all our keyboard warrior attacks on trainers there pops up a real good news story.
    This story will certainly change some peoples mindset concerning grooms and trainers.
    Strange how this story has not been aired much.
    The story about the injury and recovery of MDK stable employee Eric Sambane .

  9. Donald says:

    Mr. Goodman , I have a lot of respect for yourself and Mr. Lafferty and please do not view this clarification as a which hunt in any manner but may I request you to go back to the interview , then read my above post and if you find that what Paul said and what is in the article above are one and the same thing then I will put my comments down to the fact that I have a hearing problem or do not understand the English language as it is spoken !

  10. Speedyvar says:

    Mr.Goodman,when you proposed to your fiancee and she accepted your proposal of marriage,did you go around and say you were now married.
    Seem like Laff thought and said, we now apparently have taken over Tellytrack and will be managing it.This just after a proposal was accepted?
    Big question to Brendon,Donald and William.If Gold Circle had taken over/managed Tellytrack before Phumelela went into Business Rescue.Can the BRP now step in and say , Oh no Tellytrack will be controlled by the BRP. What gives him that right?

  11. Brendon says:

    @Speedyvar,

    It does appear that Laff misunderstood and miscommunicated a potential transaction of Gold Circle (GC), as he understood it, to take over the operations of Tellytrack. Needless to say that the potential transaction was not consummated and while some aspects of Gold Circle’s implementation plan is interesting, Dean does not have a new Boss in GC.

    Based on Phumelela’s AFS, Phumelela confirms “Gold Circle, Kenilworth Racing and Phumelela have cooperated” …(in):

    “a joint operation called TELLYTRACK PARTNERSHIP which manages the production of televised horseracing as both a local (“Tellytrack”) and an export product”

    Presumably there exists a formal partnership agreement that either addresses what additional rights accrue to the other partners when a partner files for:
    (i) Business rescue; or
    (ii) Liquidation.
    These are fairly standard default clauses in such agreements.

    The Business Rescue (BR) practitioner has the power (Chapter 6 of the Companies Act) to entirely, partially or conditionally suspend any contractual obligation(s) of Phumelela during the BR proceedings. However, the Tellytrack Partnership contract is unlikely to be one of those contracts if racing resumes in the next couple of days. If the BR practitioner is of the view that Phumelela should suspend some of its obligations ito the Tellttrack partnership to GC and KR (to contain costs that are not generating sufficient revenue), then he has the power to do so.

    The Tellytrack partnership contract would be a tricky on for any “outsider” looking at the various income and expense streams associated with the Tellytrack partnership “product” to fully understand, in a short space of time, whether the allocation and apportionment of the income and expenses are favour or prejudicial to Phumemela. The latter would probably result in a partial or conditional suspension. The fact that Phumelela requires GC and KR to generate Tellytrack related revenue may place the BR practitioner in a difficult decision making position.

  12. Alan says:

    Singing Boy, I couldn’t agree with you more. Up until lockdown, no one gave a hoot about the punters or owners while all the “old boys club” collect fat salaries while the industry shrinks.

Leave a Comment

‹ Previous

The French – Connected!

Next ›

Victor Ludorum For The Top Prize

Popular Posts