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By Nowornever · Posted
Lots of red flags Sale would not cover debt What happens if sales do not go ahead? Still no guarantee of that happening. Seems to be a reliance on third party funding - Steele said “The club also hoped to get money from various grants bodies... HRNZ itself was not giving the ATC any money, he knew of six funds the club could access.” -
By Nowornever · Posted
A couple of key takeaways I can see here. The club’s financial health is shaky enough that the bank has substantial control over decisions which is worrying in that bank driven sales often lead to accepting less than ideal terms. Another worrying sign for stakeholders is club priorities are now probably secondary to satisfying bank requirements. -
so mr rubber has ridden off on his white horse into the sunset. but not before he told his supporters(which exist primarily in auckland and nowhere else),that Hrnz can arrange for $20 million to go to the ATC from 6 funds,but hrnz are not providing any funding. oh,and we hope its 20 million,as we still are doing the paperwork for the funding applications. That of course is code for,instead of hrnz applying for the money and passing it on to the atc,lets just have it go directly to the atc,that way the idiots in the rest of nz will be fooled into thinking they're not propping up auckland. that man should run the country,hes that clever.Was he in sri lanka at one stage. nah,just kidding. oh and hes still saying aucklands population is a significant factor in how he views the importance of auckland. as i keep saying,name one positive thing to have happened for auckland ahrness racing from aucklands increasing population over the years. Just one positive trend which has impacted auckland racing in a good way. I keep asking that and no one ever answers it. obviously mr lichter ran out of ink to finish his story. you see,he didn't come to the part where neither the ATC or HRNZ have a plan to run meetings that generate break even results. You see,i would have thought they may have thought about that as any halfwit would realise its very important going forward. anyway,good luck to auckland and harness racing throughout nz . you'll need it. anyway,mr steele has ridden off into the sunset,hi ho moneybags and away. -
Investing in the North is worth it Brad?? Interesting times indeed, just incredible that it couldve got this bad for a once profitable Club. The interest cost is going to add probably at least another $7 million of debt if only a deposit is paid and full payment isnt made for another 16 months or so, allowing for the other payment reducing the loan! We can rest easy, we are in great hands. -
By Wandering Eyes · Posted
Scenic, the winner of this year's G3 Bronte Cup Fillies' Stakes at York, has been retired to stud after meeting with a setback. Trained by Ed Walker, the daughter of Lope De Vega heads to the paddocks as the winner of three of her 18 starts and just shy of £200,000 in career earnings. Initially owned by David Ward, she was bought by Wathnan Racing after her first Group-race success on the Knavesmire and was last seen filling the runner-up spot in the G2 Lancashire Oaks at Haydock. Wathnan's Racing adviser Richard Brown said, “Scenic put up a career-best performance last time out and it wasn't unreasonable to hope for some even greater days ahead, but it's not to be. She will spend some time recuperating before joining the Wathnan broodmare band. She's one of the best fillies in an exceptional Classic family of broodmares, so the dream now is of big successes with her progeny.” The post High-Class Filly Scenic Retired to Stud appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions. View the full article
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