PRESS RELEASE: 21 February 2008
A SMALL WIN FOR OWNERS
In regard to the Press Release below (Metropolitan Prizemoney to Increase From 1st April 2008 – Racing NSW), the New South Wales Racehorse Owners Association is satisfied with the distribution of prizemoney dealt out by Racing NSW.
In a press release by the NSWROA (20th December – Prizemoney Must Stay At “Grass Root” Level), it was clearly stated that we were dead against prizemoney being distributed to Group Two, Three and Listed races.
While prizemoney has been lifted on Listed races, it is nice to see that the majority of the excess prizemoney has been put into Saturday and mid-week races. This combined with the increases already announced for Country and Provincial racing ensures all owners have a chance to share in the prizemoney not paid out during the EI crisis.
The NSWROA has worked very hard in insuring that prizemoney did not go the “feature races” and we feel that over the past two months with strong lobbying, we have succeeded.
For any further information or queries please contact Brent Crawford at the NSWROA (02 999 4299).
RACING NSW
PARTICIPANTS' BULLETIN
METROPOLITAN PRIZEMONEY TO INCREASE
FROM 1st APRIL 2008
In recent months Racing NSW has been working with NSW race clubs to ensure that prizemoney not paid due to the EI shut down is not lost to participants. As a result, the following prizemoney increases will take effect on metropolitan races effective from 1st April 2008.
• Metropolitan Saturday prizemoney will increase by $5,000 per race over the levels in place prior to the outbreak of EI. This will increase prizemoney for Saturday metropolitan races to a minimum of $70,000 per race.
• Metropolitan midweek prizemoney will increase by $2,000 per race over the levels in place prior to the outbreak of EI. This will increase prizemoney for weekday and Sunday metropolitan races to a minimum of $27,000 per race.
In assessing prizemoney increases, the opportunity has also been taken to address the anomaly existing between some Listed Races and minimum Saturday prizemoney. In some instances non-feature Saturday prizemoney and BOBS bonuses have been more financially attractive than contesting Listed Races.
As such the prizemoney for all Listed Races has been increased to $100,000, also effective from 1st April 2008.
These prizemoney increases are in addition to increases in provincial and country TAB prizemoney taking effect during February and March 2008.
Racing NSW Chief Executive, Peter V'landys, stated: "These prizemoney increases reiterate the commitment of Racing NSW and the racing industry to minimise losses to participants from EI. It also continues Racing NSW's policy of ensuring that racing remains financially attractive to all owners."
AJC Chief Executive, Norman Gillespie, said: "The AJC has been working with Racing NSW as it believes it is imperative to maximise returns to participants. With other initiatives in place we will continue to work with Racing NSW to further increase these returns."
STC Chief Executive, Michael Kenny, provided his club's backing: "We fully support the initiative and will increase the prizemoney on our Saturday and midweek races and lower end Listed Races. This provides a significant boost for Sydney racing and its owners as we recover from EI."