Posts: 23 Location: Hunter Valley Joined: 15.10.09
Posted on 28-07-2010 21:04
Racing NSW today announced an increase in country prizemoney as well as a $4 million increase in prizemoney during the Sydney Autumn and Spring Racing Carnivals.
Recent misinformation in certain quarters that current prizemoney levels may be in danger was dispelled by Racing NSW Chief Executive, Mr Peter V’landys.
“It is important at this time that certainty is provided to participants and I’m confirming that existing prizemoney levels and the number of race dates for 2010/11 are being maintained and in some areas increased.”
The Australian Jockey Club is increasing feature race prizemoney by $3.6 million, with increases to feature races during its Autumn and Spring Carnivals. The Sydney Turf Club will also increase prizemoney for various Group Two events.
“The AJC is delighted with today’s news from Racing NSW and the Board will meet on Friday to consider prizemoney upgrades exceeding $3.6 million to further strengthen Sydney’s Spring and Autumn Carnivals,” said Mr Darren Pearce, CEO for the AJC.
In addition from 1 September 2010, Country TAB prizemoney will be increased to $10,000 per race from $9,000 per race. Chairman of Racing NSW Country, Mr Gordon Lindley, was delighted with the increase in country prizemoney.
“This increase in TAB prizemoney further underpins the strength of country racing as the grass roots of racing in NSW,” Mr Lindley said.
A particular focus of the Strategic Plan released by Racing NSW in 2004 was to increase returns to participants. In accordance with that goal, returns to participants on provincial and country racing have grown from $44.1 million prior to the implementation of that Strategic Plan, to an estimated $73 million in 2010/11.
Metropolitan racing returns to participants have also increased from $66 million to $77.2 million in that same period.
“Increased returns to owners are vital to ensuring the attractiveness of investing in thoroughbred racing and the overall health of the sport,” Mr V’landys stated.
“We have established a strong and consistent track record of increasing both prizemoney and other returns to owners,” Mr V’landys added.
Guests Online: 2