As with crypto-currency, records of who owns what are stored on a ledger that is maintained by thousands of computers around the world. These records can’t be forged because the whole system operates on an open-source network.
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Selling a company is less like crossing a finish line and more like taking a pit stop — rest, refuel and get back on the track stronger.
Even in the thankless and intractable world of racing politics, few stars have waned as rapidly as that of Lord Allen of Kensington, a former businessman and senior broadcasting executive who arrived in September at the BHA promising to restructure the sport’s governance and, in the words of his day-one mission statement, “develop British racing into a modern commercial and cultural powerhouse”.