22 May 2023 , 11:38
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A ban on John Dance's runners has been lifted by racing chiefs, amid a probe from a regulatory body.
The owner's team of horses have been sidelined since one of his firms was ordered to cease operations. A Financial Conduct Authority investigation, which began in April, continues to look into WealthTek LLP.
The company also trades as Vertem Asset Management – a major racing sponsor – and Malloch Melville.
In a statement, the British Horseracing Authority said it would permit thoroughbreds to compete through Dance's business – Coverdale Stud and Titanium Racing Club. The move was made after an agreement was reached over funding, however any prize money won will be frozen due to a High Court Order.
Dance had this year's Gold Cup second Bravemansgame, before the Paul Nicholls-trained chaser was switched to the sole care of Bryan Drew.
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James Horton trains around 45 horses for Dance at a private facility in Middleham, North Yorkshire. He confirmed he can have runners in races following the latest BHA update, but did not wish to comment further.
The BHA statement said: "While the Financial Conduct Authority’s (FCA) investigation into Mr Dance continues, it has agreed to sufficient ongoing funds being released to cover the costs of Mr Dance’s racing operations, in accordance with the terms of the High Court’s Freezing Order.
Laurens (left) won Group 1 races for owner John Dance (Getty)"This is with a view to supporting the welfare of the horses and the livelihoods of the staff impacted by the investigation.
"The BHA is therefore permitting runners through Mr Dance’s business, in the name of Coverdale Stud and Titanium Racing club. Mr or Mrs Dance will not be permitted to have personal runners in their own names.
"Any prize money or other business profits will be frozen under the terms of the High Court’s Order and the BHA remains in continued dialogue with the FCA to supervise this arrangement.
"The BHA continues to work with the FCA to ensure the terms of the High Court’s Order are complied with, whilst prioritising the wellbeing of the horses and people affected."