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Everything posted by Chief Stipe
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So where will the training be done while the track is being built? Most of those surfaces that you mention don't require a lot of maintenance and I gather there isn't a lot done when it should be. Now if what you are saying is correct then the maintenance costs of the AWT will be greater than most and will shorten the life if the polyfill. With the tracks mentioned above how many are completely groomed twice a day? Will the AWT be sectioned off and only parts of the 16m width groomed each day?
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I see in the Awapuni proposal Kamada Park gets new stables. Riccarton is going to double the number of horse's trained on course and double the number of race meetings. Still don't understand why there is commercial sensitivity around this proposal. Unless it hides numbers that can be challenged and/or discloses who has fingers in the pie!
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Yeah na. Thomarse will still be fretting about them not twittering!
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Is the new management structure in place and have changes been made?
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Are the RIU suddenly short of things to do? Or is there a new testing regime? Increased frequency?
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Yeah I hear you. I've been following Aussie racing a lot more since Covid-19 kicked in. Was the only play in town for a while! I've mentioned before how I like looking up where these obscure tracks are in OZ on Google Maps. Towns of 1,600 people in the outback with turf tracks and what seems the whole town in attendance! But country racing aside I've also starting noticing the distances that City trainers travel to race their horses - aware that many do have satellite stables which lessens the distance. Snowden and Waller travel nearly weekly between Sydney and Newcastle to race horse. The same distance as from Christchurch to Timaru.
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Rule Number(s): 869(3)(b)Following the running of Race 5, an Information was filed by Stipendiary Steward, Mr P Williams, against Open Driver, Ms S Ottley, alleging that “On the first bend you shifted inwards when not sufficiently clear of ENDLESS DREAMS which was checked and broke.” Ms Ottley confirmed that she understood the ... (Feed generated with FetchRSS)View the full article
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Rule Number(s): 870(3) and Breaking Horse RegulationsFollowing the running of race 2, an Information instigating a protest was filed by Stipendiary Steward, Mr P Williams, against DOWN TO THE BONE (J Dunn), placed 4th by the judge, on the grounds that it “galloped in excess of 50 metres in the final 200 metres”. Section B of the Breaking Horses Regulations ... (Feed generated with FetchRSS)View the full article
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One thing that really worries me is what strategic analysis has been done that assesses all the factors. For example - environmental considerations. Imagine what will happen when the Greenies cotton onto the "synthetic" aspects of the polyfill. Sure its composition includes recycled waste but it is waste that wears and has to be dumped at some stage. Micro-plastics/fibres, petroleum based waxes and other "contaminants" are all used. The industry is opening itself up to all sorts of scrutiny. Compare that to a Strathayr or even a well maintained traditional turf track and we are talking a natural surface. The only thing synthetic about a Strathayr is the artificial mesh that is used to provide structure to the soil profile. It is recyclable. Although the polyfill is a lovely colour: A horse won't get a spec of sand in its eye but a piece of carpet!
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Racing IS A BUSINESS however protecting the gambling arm from market forces doesn't work. History of Phumelela: Phumelela Gaming and Leisure Limited is a JSE-listed, level 4 B-BBEE business, which is licensed to operate horseracing and totalisator betting in seven of South Africa’s nine provinces. Horseracing in Gauteng was corporatised and totally restructured in 1997. Phumelela was formed that year and later listed on the JSE in June 2002 in order to facilitate the “corporatisation” of horseracing in Gauteng. “Corporatisation” came about at the behest of the Gauteng Provincial Government in order for the sport to remain competitive within a burgeoning gambling market that was about to legalise casinos and a national lottery in South Africa.A critical element of the restructuring was a commitment to rationalise the horseracing infrastructure in order to, inter alia, “facilitate transformation, transparency, accountability and create a sustainable business model”.The three racing clubs that had run racing in the region until then transferred their assets to the new company, Phumelela, which took over the management of the sport in the province.Phumelela’s main shareholder, the Thoroughbred Horseracing Trust (26.72% shareholder), is a not-for-profit entity which was formed at the insistence of the Gauteng Provincial Government.The principal objective of the Trust is to “promote the interest of all persons interested in, and affected by, the sport of thoroughbred horseracing in South Africa with a view to the long-term viability of the sport”.Additional objectives relate to the promotion of B-BBEE initiatives and affirmative action schemes with the intention of facilitating transformation within horseracing.Horseracing in the Northern Cape, the Free State and Eastern Cape, subsequently joined the corporatisation process under the Phumelela umbrella. The tote business in North West Province was acquired by Phumelela shortly thereafter.The racing clubs in KwaZulu-Natal and the Western Cape joined in the corporatisation process by rationalising their operations under the banner of Gold Circle in 2000. They demerged in 2013 and since then Phumelela has managed horseracing and tote betting in the Western Cape on behalf of Kenilworth Racing with Gold Circle continuing in KwaZulu-Natal.The corporatisation process was a financial and competitive imperative given the significant challenges that faced the sport at the time, in particular the cycle of decline in betting turnovers, owners, horses, trainers, jockeys, prize money and financial reserves, all exacerbated by high betting taxes and the imminent legalisation of other forms of gambling, notably casinos and a national lottery.It is important to record that it was a political imperative imposed by government with a goal to transform the sport to a “transparent, accountable, professionally managed, governed and profit-driven enterprise with appropriate black economic empowerment credentials”.The Racing Association, with a membership comprising owners and former racing club members, was established to represent the interests of owners.The Racing Association is run by a board of directors elected from the ranks of its members. The directors appoint five of the seven trustees to the Thoroughbred Horseracing Trust, which holds racing’s 26.72% share in Phumelela. Two trustees are appointed by SASCOC.
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MEETING NEWS Jason Waddell Not Riding at Hawke’s Bay Jason Waddell has been stood down by the RIU until further notice and will not be riding at Hawke’s Bay on Saturday 19 September. Replacement riders as follows: R7 #1 Vigor Winner - Troy Harris R10 #13 Jennifer Eccles - Matthew Cameron
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SBC News Betfred bid for bankrupt Phumelela refused Ted Menmuir 2 weeks ago Betfred is reported to have been rejected in its last-minute attempt to acquire bankrupt South African heritage wagering and racetrack operator Phumelela Gaming & Leisure. South African racing news sources reported that Phumelela’s bankruptcy auditor refused to review Betfred’s ZAR 900 million (€45m) counteroffer submitted at the end of August as Phumelela closed its window for rescue proposals. Stating its intent to acquire Phumelela outright, Betfred tabled a rescue package at double the value of Phumelela’s only alternative a ZAR 500 million (€26m) deal offered by ‘Mary Oppenheimer Daughters’ (MOD) – the private investment fund of Mary Oppenheimer-Slack and her daughter Jessica Jell, members of South Africa’s richest mining family. Betfred’s significantly larger proposal underlined that the UK bookmaker would pay off Phumelela’s ZAR 677 million debtors instantly, whilst maintaining all of the firm’s staff for an intended overhaul of the South African operator’s racetrack properties which would be upgraded to its Tote wagering systems. On Tuesday, Phumelela’s auditor closed its hearings, declaring MOD as the firm’s preferred rescue plan and postponing all options to investigate further investment opportunities. The auditor defended MOD’s original proposal, stating that its offer had previously secured an outright backing by Phumelela creditors and that Betfred had merely stated its intentions to acquire Phumelela but had not submitted a legally binding proposal. Oppenheimer’s MOD fund had been registered as one of Phumelela’s creditors having issued the company a ZAR 100 million loan at the start of the coronavirus pandemic. Under MOD’s rescue plan, the Oppenheimer family will pay ZAR 480 million to acquire Phumelela’s racetrack and broadcast properties, separating the assets from the firm’s leisure and property holdings. MOD will also launch a ‘post-conflict-fund’ of ZAR 550 million, guaranteeing a payment plan for the company’s existing creditors which currently total a combined ZAR 1.17 billion (€55m). Categories: Featured News, Horseracing, Latest News, Retail, UK Tags: Betfred, Mary Oppenheimer Daughters, Oppenheimer Family, phumelela, Phumelela Gaming & Leisure, South Africa SBC News Back to top
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CalvinAyre.com Phumelela gets cash lifeline after filing for bankruptcy protection Steven Stradbrooke 4 months ago South African race and sports betting operator Phumelela Gaming & Leisure has filed for a form of bankruptcy protection as the pandemic pushed the already teetering company over a financial cliff. Last Friday, Phumelela’s board of directors alerted investors that it had suspended trading in its shares on the Johannesburg Stock Exchange and viewed “the best option to ensure the long-term survival of the company and the sport of horseracing is to implement a business rescue plan.” Business rescue allows struggling firms temporary relief from their creditors in order to give a company time to restructure its operations. Phumelela said it has appointed a Mr. John Evans as its “business rescue practitioner.” Phumelela is coming off the “worst year” in its 22-year history following regulatory changes in Gauteng province that eliminated the company’s share of the mandatory 6% levy imposed on racing bettors’ winnings. This was compounded by the recent suspension of all South African racing due to the COVID-19 pandemic, which led Phumelela to warn last month that it couldn’t carry on much longer under current conditions. However, Phumelela’s business review announcement indicated that it was conducting “ongoing negotiations with a third party regarding the provision of loan finance,” and had “received a signed proposal” from the unidentified third party. South African media subsequently reported that Phumelela’s white knight was Mary Oppenheimer Daughters, a company run by the nation’s richest family. The group has reportedly agreed to provide a R100m (US$5.4m) lifeline that should give Phumelela “safe space for about six months or so,” according to Mary Oppenheimer Daughters board member Wehann Smith. Smith said the R100m lifeline was “not an attempt to save Phumelela as a company or to invest in Phumelela,” but was intended to ensure “the sustainability of the [racing] industry as a whole.” The Oppenheimer family has a longstanding connection with South Africa’s racing sector, having bred and owned multiple top-performing horses. Mary Oppenheimer Daughters previously donated R1b to South Africa’s Solidarity Fund to aid the country’s campaign to battle COVID-19. Categories: Business Tags: Phumelela, South Africa CalvinAyre.com Back to top
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There is no excuse for this action however South African Thoroughbred racing is in deep shyte. When I was researching other Jurisdictions economic viability for comparison with NZ I found huge similarities between the TAB monopoly in SA and NZ. Phumelela is effectively bankrupt which has flowed through the industry. The rioting workers have some justification for their grievances.
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The Cambridge Jockey Club have done really well and outsmarted everyone! They were financial enough to fund their own AWT yet managed to twist Winnie's arm and get a taxpayer benefit handout! What's more they suddenly went from being just a training facility to now being a racing venue!!!!! I thought the goal of the Mesara report was to reduce the number of racecourses NOT increase them!
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Look where that has got us! Isn't that the sort of arrogance displayed by NZTR/NZRB management that got us where we are now? RITA et al was supposed to change that but what has happened? Any form of transparency has gone! FFS we don't even get turnover figures now! Why would anyone wanting to invest in the industry do so if there is no information about its sustainability? I should put a Topic up that lists the backtracks we have seen so far this new post-Covid season! With all the money spent and the knowledge and experience the powers that be supposedly have they should have got it right the FIRST time! In saying that well done for back tracking but I guess when reality hits you don't really have much choice!