Al Shaqab insiders have expressed absolute confidence there will soon be an end to the embarrassing and painful saga that has resulted in trainers and other employees left with unpaid bills that in some cases have been stretching back to approaching a year.
Sheikh Joaan’s racing operation, closely linked to the Qatari state, has been exposed as way behind in payments to those working for it in both Britain and France.
The Racing Post has spoken to a number of trainers owed thousands of pounds by an organisation whose involvement in British racing is set to be scaled back this year.
Al Shaqab’s principal trainer in Britain has been Richard Hannon, with others sent horses including Hugo Palmer, William Haggas, Luca Cumani and Sir Michael Stoute. Frankie Dettori has been the retained rider.
In France the principal trainers last year were Andre Fabre and Jean-Claude Rouget.
While the official position given from Al Shaqab’s main Doha base is the problem was caused by a financial review and reorganisation, it is rumoured excessive spending has been central to some on the Al Shaqab payroll being left in a precarious financial position.
In a statement sent to the Racing Post, general manager Khalifa Al Attiya said: “We have been going through a longer financial review due to many activities and engagements in regards to our operation in Qatar, which is taking us quite a bit of time to finalise. All payments will be settled as soon as we are done.
“Al Shaqab is operating like every other business with accountability and responsibility. Our responsibility is to finalise our yearly financial review and settle any invoices owed fully.
“We have noticed in our financial review that some payment may have been delayed, and answering that question as to why it has been slightly delayed is a question in our financial review.”
With increasing emphasis being given to France by Al Shaqab, the racing operation fronted by the Emir of Qatar’s brother Sheikh Joaan is expected to have only 11 two-year-olds in training in Britain this year.
Although the Al Shaqab debt trail is thought to extend beyond trainers, Newbury racecourse, whose Lockinge Stakes card is sponsored by Al Shaqab, is understood to have been paid in full.
Newbury on Wednesday issued a statement that read: “Al Shaqab are valued sponsors at Newbury racecourse and we are grateful to them for their ongoing support and commitment.
“This year will mark the fourth of a five-year sponsorship deal of the Group 1 Lockinge Stakes and we have always worked closely together in order to deliver the very best return on their investment.
“All of our commercial dealings have been satisfactory to us and we look forward to working with them for the next two years of the current contract.”
Since bursting on to the scene in 2013 – when horses ran in Sheikh Joaan’s own name before the launch of Al Shaqab the following year – the stable has enjoyed enormous success, twice winning the Qatar-sponsored Prix de l’Arc de Triomphe with Treve and enjoying Classic glory in Britain with Galileo Gold.
fonte : RacingPost
