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Racecourse Media Group (RMG) has today announced that its Chief Executive, Martin Stevenson, has asked the Board to start the process of finding his successor. It is anticipated that Stevenson will step down from the role at the end of the year.

Stevenson, who joined RMG in 2007, has led the business since 2020 overseeing the delivery of record results for member racecourses while setting the business on a clear path of innovation to help secure future development.

Stevenson believes that the time is now right for the business to transition to new leadership and to put the foundations in place ahead of the next round of rights renewals. He will remain in post to lead the business in the coming months and work with the Board and Executive to manage the transition to his successor.

Martin Stevenson, CEO of RMG, said:“I have a significant birthday approaching and I think now is the right time for me to relinquish the role and enable the business to put in place its leadership in plenty of time ahead of the next rights renewal cycle.

“It has been a huge honour and privilege to have been involved in the RMG project. Having joined as Finance Director when it was still a start-up, to helping it grow to become the largest funding organisation in British horseracing, it has been an exciting and engaging journey. The business has achieved a great deal in reclaiming control of our racecourses’ media and data rights and has created real substantial commercial success for the industry, having now delivered more than £1.2bn to the industry.

“The industry undoubtedly has some challenges, but RMG is an excellent example of what can be achieved when the industry comes together in the right way with clear focus, commitment and good governance.

“I know I’ll be leaving RMG in great shape and with exciting innovation plans for the future that are in development now. I would like to thank the excellent team at RMG for all their hard work and passion in helping to make RMG such a success. I would also like to thank all our racecourses for their fantastic support and putting their faith in us to deliver for them.”

Conor Grant, Chair of RMG, said “Martin has made an enormous contribution to Racecourse Media Group over the last 17 years, serving with great distinction as Chief Financial Officer for 13 years and as Chief Executive since 2020.

“Having started with the business in its formative years, he has been at the forefront of its development, pushing the boundaries on innovation and committed to delivering for our shareholders. RMG has been a tremendous success in maximising the commercial rights for its shareholders and generating more than £1.2billion for its racecourse members and British racing. Martin has been integral to this success.

“He has been a great ambassador for RMG and leaves the business in rude health and with exciting plans to ensure our continued growth.

“I would like to thank Martin for his wonderful service and dedication to the business and, on behalf of the board and all RMG shareholders, we wish him every success in the future.”

Nevin Truesdale, Chief Executive of The Jockey Club, said: “It has been a pleasure to work with Martin as a trusted and highly respected colleague for over 10 years, in both the roles we have held in our respective businesses.

“The success of RMG in delivering significant incremental value to British Racing and enabling the Jockey Club and other shareholder racecourses to invest record amounts into prize-money and other investments over the last 20 years has been in no small part due to what Martin has delivered.

“He has played a key role in RMG’s undoubted success in increasing the value of British racing’s betting and data rights and I would like to thank him, on behalf of all of us at the Jockey Club and the other RMG shareholders, for all that he has done.

“It has also been pleasing to see the innovation which has started to come through as part of the development of Coursetrack, RaceiQ and other data-led initiatives in more recent times. This gives his successor and the great team at RMG a really good base on which to build and continue to deliver significant value for whole sport in the future.

“I would like to wish Martin every success in his future career and thank him, on a personal level, for the immense support he has given over the last few years.”

James Sanderson, Chief Executive of Thirsk and Catterick and RMG’s Small Independent Racecourse representative, said: “The success of RMG has been transformational for the Small Independent Racecourse grouping and Martin has been front and centre of that success.

“Martin has consistently raised the bar in terms of the value of racecourse media rights and he has steered the business through some challenging times with consummate skill; especially with regards to the rights-renewal cycles and in carefully managing the natural tension that emerges between RMG’s diverse shareholder base. The Small Independent Racecourse group owes Martin a huge debt of gratitude.”

Adam Waterworth Chief Executive of Goodwood and RMG’s Large Independent Racecourse representative, said: “On behalf of the large independents, I would like to place on record my thanks to Martin for all he has done for RMG and the racing industry throughout his time with the company.

“RMG has been transformational for all racecourses and through the investment that has enabled, all participants and the wider racing industry have benefitted. Martin and his team have constantly sought new and innovative ways to engage with our key customers, through products like RaceiQ, and that approach is set to continue.

“All of the Large Independent RMG racecourses wish Martin the best for the future and look forward to an exciting next chapter in the development of RMG.”