Prize-money increases and Club merger sees NZ racing at its most critical juncture
New Zealand Thoroughbred Racing chairman Cameron George says change must come now or there won’t be an industry in years to come
New Zealand thoroughbred racing received a long overdue shot in the arm this week with the announcement of $7 million worth of prize-money increases for next season giving the sport its best chance yet of climbing out of the doldrums.
New Zealand Thoroughbred Racing chairman Cameron George told ANZ Bloodstock News yesterday that it’s ‘now or never’ for the industry to positively embrace change to ensure its own long-term survival.
“The position right now is the greatest opportunity we have got in the history of our sport in New Zealand to recorrect it and reset it.
“If we don’t correct this now we won’t have an industry in five years time.
“We have had to redirect the whole way we govern the sport and manage prize-money. We needed to make a change,” said George.
Australian-born George, who is also CEO of the Auckland Warriors National Rugby League team and has previously held positions as chief steward of New Zealand Racing and CEO of the Auckland Racing Club, was appointed to the helm of the NZTR board last November.
Like many key players in the New Zealand racing and breeding landscape, George is passionate about seeing the sport thrive in future years and explained that a rolling funding model has been designed to inspire better performance from racing participants and ultimately stimulate investment in horse ownership and wagering.
“I think what we have put on the table for our industry to now receive is a really sensible and smart way of governing an industry that’s on the verge of a lot of change,” said George.
“Under the new racing act funding is based on performance alone. We need to hit high performance levels throughout the season and we have confidence we can hit those numbers so that the industry can be funded to the level it was announced.”
Race clubs are expected to play a major role in helping deliver these outcomes with the creation of a $500,000 innovation fund.
“Our industry is underpinned by great people and we need to encourage them to create new and exciting ways to play out our sport to the public,” George added.
“I’m not expecting everyone to become an owner or have a bet, but one thing I take seriously is that it’s professionally run. If you have a choice to enjoy a day at an event we want people to consider going to the races. We want the clubs to take a lead in that.”
There will be a 20 per cent boost to stakes between August 28, 2021, and April 2, 2022 and increased funding includes stakes lifts across the board and increases in minimum prize-money levels for industry and feature days.
One of New Zealand racing and breeding’s most influential figures, David Ellis, who heads up Te Akau Racing, said he was thrilled that the long-awaited increases have been made.
“Obviously an increase in stakes is well overdue but it is such good news that this first increase is finally here.
“It is also positive news because the costs of running a stable have also greatly increased in every area over the last two years so it is good to see that additional prize-money is going to the owners as it is owners that actually ‘put the show on’,” said Ellis.
He also commended TAB NZ for initiatives that have led to the industry being able to enjoy the fruits of extra prize-money funding.
“Congratulations to the TAB for paying out this extra money to the codes. This has been done by a reduction or the elimination of duty on each bet and also with race fields’ legislation now in full swing.
“This has certainly assisted in this good news and there has also been a major reduction in costs that the TAB has taken out of its business.”
Mark Chittick, the principal of leading thoroughbred nursery Waikato Stud, also welcomed the fresh direction in which the industry is heading in and the resultant injection of funds to the prize-money offering.
“More input will be so appreciated, let’s hope it’s just the start,” said Chittick.
And I’m sure if we can get our house in order there will be more to come, and that will be just the answer to a great industry in New Zealand.”
Counties Racing Club approves merger with Auckland Racing Club
In a major move to help facilitate the increased strength of Racing Clubs in New Zealand, the Counties Racing Club yesterday approved a merger with the Auckland Racing Club, after an historic vote, the impact of which could see a vast increase in fortunes for racing in the north of New Zealand.
The final hurdle now lies with a special board meeting at Ellerslie tomorrow, in which Auckland Racing Club members will vote on the proposed merger which, if passed, would create Auckland Thoroughbred Racing Incorporate, a new ‘super club’ that would become operative on August 1, the first day of the new season.
This newly formed racing club would assume control of both Ellerslie and Pukekohe race tracks, as well as all other assets.
Mark Chitty, Haunui Farm principal and chairman of the Counties Racing Club, said the move was passed by ‘a yes vote of 90 per cent’.
In a letter to club members late yesterday evening, Chitty said: “CRC members voted overwhelmingly in favour of the proposed amalgamation with the Auckland Racing Club.
“Members also voted in support of related resolutions that included the transfer of the club’s racing track property and surplus assets, and the dissolution of the club.”
The new super club has also outlined intentions to work with Avondale Jockey Club, while further investment could be realised through the sale of Ellerslie’s Steeplechase Hill, which will create a fund of around $250 million to be utilised towards maintaining the recent prize-money increases and beyond.
Minimum prize-money Increases between August 28 and April 2
2020/2021 2021/2022
Iconic Meeting $40,000 $50,000
Premier Meeting (exc Maidens) $30,000 $40,000
Feature Meeting
- Maiden $10,000 $15,000
- Open $32,500 $40,000
Group 1 Races $200,000 $220,000
Group 2 Races $100,000 $110,000
Group 3 Races $70,000 $80,000
Listed Races $50,000 $60,000