Cape Town - Following on from previous announcements regarding the proposed transactions involving Kenilworth Racing (KR) and Gregory Bortz’s investment vehicle, GMB Investment (GMB), KR on Wednesday announced that all the necessary agreements between GMB and KR have been successfully concluded.

This has enabled the flow of funding from GMB to sustain the sport of horse racing in the Western Cape and more importantly puts KR in a safe, stable position going forward.

Over the past three months, there have been numerous positive changes affected at KR. The sponsorship from Hollywoodbets, together with the GMB capital infusion, and most importantly the additions to the management team, has raised the racing experience on the course beyond expectations.

With the safety of KR secured, the changing of the guard is inevitable and so too is the KR Board construct. To ensure a seamless transition to build the momentum created in the Western Cape, Bradley Ralph will step down as Chairman of KR and hand over the reins to Greg Bortz as the incoming chairman.

Bradley has committed more than just his time and emotional energy to ensuring the survival of KR and we would like to thank him for his service on the board and devotion and effort over the past four years, of which the last two were as chairperson.

Greg Bortz said: “It has been an absolute pleasure working with Brad over the past few months.

"His calm demeanour, comprehensive knowledge and love of racing are just some of the reasons why KR was able to survive the last few years, despite the most challenging of environments. KR and I look forward to maintaining our deep ties and friendship with Brad.”

IOL Sport