Louise Norman Interview

Louise Norman, the new chief executive of the Racehorse Owners Association (ROA), has taken on the challenging task of reinvigorating an organisation accused of punching below its weight in recent years.

As well as offering benefits to members, the main purpose of the ROA is to promote and protect the interests of owners. They are the lifeblood of the industry, but one of the criticisms levelled at their representative body is that it has not always been vocal enough on issues such as media rights transparency, a bit-part player in the turf war between racing's numerous stakeholders.

It is against this challenging backdrop that Norman, 44, has stepped into British racing's power vacuum following the abrupt departure of her predecessor Charlie Liverton, first in an interim role before her permanent appointment was approved by president Charlie Parker and the ROA board in July.

Reflecting on the situation she has inherited, Norman says: "What's happened has happened. We've had a reset, just to stop and look at what the business is doing and what it needs to do in the long term. We're looking at the structure and going back to the basics of our strategy."

That strategy must work to benefit a far greater range of owners than when the ROA was established in 1945 due to the growth of syndicates and racing clubs. Their members often have different priorities and expectations to sole owners, but one grievance that has long united many of those who invest in British racing is the disparity between what they put in and what they receive in return in prize-money and the ownership experience.

"The cost of ownership is one of our biggest challenges," says Norman, who joined the ROA after 20 years working for Weatherbys Racing Bank. "When I became involved with owners in my previous role there was never enough prize-money and there may never be, but the main issue is the lack of transparency. If you put £1 in and get only 50p back, you're entitled to ask where the other 50p has gone. 

"That's why the commercial agreements with racecourses are really important. As much as we can talk about bringing new money in and all the exciting ways of growing the pie, if the distribution model isn't discussed or agreed then you'll be having the same conversation in five years."

Key to getting the best deal for owners will be advocacy. There has been a move from bodies such as the Professional Jockeys Association and National Trainers Federation to be more on the front foot when it comes to wading in on the big issues facing the sport but, despite the vital importance of retaining owners, the ROA has not always been as outspoken, although that looks set to change.

"There will be more of a push," says Norman. "Owners are increasingly frustrated about where their money is going, how the money flows through the sport. If there are discussions that are right and relevant to owners, we've got to be taking them up, but we've also got to tell owners what we're doing on their behalf. I want to see change for the right reasons, but it takes time.

"It's important that the ROA is involved in conversations at an industry level, but I think the most important thing for us is the relationship with owners. That's where our strength needs to be. We need to build that trust and if you mention the ROA to them they should know why they're part of it, because it represents them and is fundamentally promoting their needs."

The ROA's latest annual meeting at Kempton last November highlighted a disconnect between the organisation's leadership and some of its members. Former board member Sam Hoskins claimed the ROA was being run "like a dictatorship" and said owners had "lost faith in their representative body to do what's best for British racing", while also calling for Parker to resign.

That is a perception Norman is eager to change, and she says: "Short term, our priority is to rebuild the trust in the brand and to answer the overwhelming question of, 'Why the ROA?' It's lovely owners have the ability to access benefits with a membership, but one of our straplines has always been that we're the voice for owners and we've got to focus on being that voice.

"That's the vision we need to look towards and that in itself carries weight when you have those conversations at industry level. Then when there are items on the agenda that impact owners, we're in a better position to canvas our members and put forward their views."

It is one thing to fight for owners, but communicating the progress being made in key areas is considered equally important by Norman, who admits there is much room for improvement. "If the communication isn't there then you're going to fall down," she says. "We've been guilty of not communicating and engaging enough. It's not about what I think, but what owners need.

"The other side of that is actively listening to what owners are saying. What is their appetite for change? Where does it need to happen? How does it differ for different types of owners? We can fight for those things and if it doesn't quite go how we want it to, we then need to put together a detailed explanation with our rationale, rather than simply explaining the result."

The ROA has come under fire for its ability to deliver change for owners, most notably with its handling of the £1.2 million cross-industry ownership strategy, which came to an end in 2020. 

However, Norman says work is under way on a new tiered membership structure, aimed at better reflecting the ownership landscape, and that there are "good things coming" regarding a new streamlined online process to handle administration such as paying registration fees.

More recently, the ROA took the opportunity to stick its head above the parapet after rule changes by Weatherbys Racing Bank that required syndicate members to disclose their source of income and personal information when opening a new account were described as another potential barrier to ownership by the chair of the Racehorse Syndicates Association Dan Abraham.

On the latest developments, Norman says: "We're in conversation with Weatherbys. It's not about taking them on, but owners are coming to us with genuine frustrations around the intrusive nature of the checks. If you get into ownership for fun and suddenly you have four hours of paperwork to complete, you'll probably walk away as you can invest it elsewhere.

"We all know you have to go through verification checks when opening an account, and we're not circumventing them, but what we're asking is what is relevant and right for this investment?"

Convincing owners that their investment remains worthwhile and fighting for better returns must be priorities for the ROA, but how important is it that British racing collectively does more to recognise owners?

"Owners are so important and getting that acknowledgement is critical," says Norman. "They invest collectively more than £500m a year to keep horses in training, so their welcome and base experience should be set at a high standard. Owning a racehorse is a luxury spend and the experience should ultimately match that, whether you're a member of the ROA or not.

"We can't underestimate the challenges. There are a lot of pressures on leisure spend, as well as developments around affordability and the sport's social licence. We've had a reset, but I'm very much looking five years down the line and thinking how do we get on the front foot and tackle those issues to protect the investment of owners – I don't take that responsibility lightly."

Norman knows there is much that will need to change in the next five years but says she is energised by that, not daunted. She describes herself as a "doer", motivated to promote ownership by a career working closely with owners, first with Weatherbys Racing Bank and more recently as the ROA's head of ownership.

"There has to be trust that we're acting in the best interest of owners across the board, and that will get better as we learn more about their needs and get out and about," she says.

"I've been involved with owners for a quarter of a century. Their desire and passion transfers to me and it's a real driver to do a really good job on their behalf. We're in a totally different environment to when the ROA started, one size doesn't fit all, but we understand that. It's more challenging with lots of different voices but it creates an opportunity for change."

After a tumultuous couple of years for the organisation, with the departure of one chief executive and criticism of the ROA's leadership, members will be hoping that change happens quickly. Earning back the trust of owners, ranging from syndicate members to individuals with a large string of horses, will be critical to ensuring their voices are properly heard by British racing.