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Charities to benefit from Post sell-off

The sale of racing's only trade daily paper, the Racing Post, to an Irish investment firm, will have at least one direct benefit for the industry it services. Part of the £170m deal is that £10m will go to four charities – Injured Jockeys' Fund, Retraining of Racehorses, Racing Welfare and Direct Aid for Africa. Vendors Trinity Mirror agreed to do this at the suggestion of Sheikh Mohammed, who founded the Racing Post in 1986.

The paper, which saw off the established title in the racing, bloodstock and betting fields, the Sporting Life, last year repelled competition from a short-lived newcomer, The Sportsman.