Punchestown Festival: Bravemansgame cleared to race as Financial Conduct Authority approve sale of John Dance share
Gold Cup runner-up Bravemansgame is once again free to race after the Financial Conduct Authority (FCA) approved the sale of co-owner John Dance’s shares.
The Paul Nicholls-trained star, who is set to feature in the Punchestown Gold Cup on Wednesday, was denied the opportunity to run at Aintree earlier this month after the FCA intervened following “serious regulatory and operational issues” related to a business linked to Dance .
Dance founded Vertem Asset Management, a prominent sponsor within racing, but that firm is one of three trading names of WealthTek LLP, which was ordered to cease trading.
In a statement on Monday, the BHA confirmed: “The Financial Conduct Authority (FCA) has today informed the British Horseracing Authority (BHA) that it has agreed to the sale, following an independent valuation, of Mr Dance’s 50 per cent share of Bravemansgame .
“The gelding was previously owned in partnership by John Dance and Bryan Drew, and has now been sold into the sole ownership of Bryan Drew.
“As a result Bravemansgame is now able to be declared for races, including the Ladbrokes Punchestown Gold Cup at Punchestown on Wednesday.
“The BHA remains in dialogue with the FCA and Mr Dance regarding the status of Mr Dance’s other horses.”
Bravemansgame is expected to head to Ireland for a rematch with Cheltenham Gold Cup hero Galopin Des Champs.
Sky Sports Racing’s Matt Chapman reacted with delight at the news, tweeting: “Thank you Bryan Drew for freeing Bravemansgame for Paul Nicholls. go conquer.”