Even More Money for the Karaka Millions!

[Chief Stipe]

Million Dollar Maiden Series Boost for Karaka Millions

Sent on behalf of New Zealand Bloodstock and New Zealand Thoroughbred Racing.

Karaka Millions riches are set to be amplified next season, with horses eligible for the lucrative NZB Karaka Millions Series racing for an additional $1m in bonuses.

In an exciting new initiative, NZB and NZTR, generously supported by Entain, are delighted to announce the Karaka Millions Mega Maiden Series, which will see $1m in bonuses up for grabs across 40 maiden races each season, for the next three years.

Comprised of 40 non-Saturday maiden races located throughout New Zealand, a $25,000 bonus will be struck if a Karaka Millions eligible horse, three years or older, wins. The winning owner will take home $20,000 and the successful trainer $5,000.

NZB Managing Director Andrew Seabrook said NZB has been wanting to see more of its sales graduates reap the benefits of the Karaka Millions Series for some time.

“By hosting a $1m maiden series over 40 races, that goal will be well and truly satisfied,” he said.

“I'd like to thank Bruce Sharrock, Cameron George and the NZTR Board for their continued support of NZB and the Karaka Millions Series.

”Because of NZTR's financial contribution, we were able to raise the TAB Karaka Millions 3YO to $1.5m this year which in turn led to a much larger uptake in nominations. As a result of that we are now able to introduce this new maiden series, which will get to the grass roots of racing in this country.

“I'd also like to thank Dean Shannon, Lachlan Fitt, Cameron Rodger and their wider team, whose contribution to this new initiative underscores Entain’s desire to see our industry thrive at every level.”

NZTR will determine which 40 maiden races will feature in the 24/25 season Series, which will run from September to May of each racing year. The selected races will be announced next week with NZTR Chief Executive Officer Bruce Sharrock pleased to see additional bonuses elevate the New Zealand racing product across the board.

“NZTR is proud to be working with NZB and Entain to bring an additional million dollars in bonus funding to benefit owners and trainers across the regions,” he said.

“Following on from other collaborations recently, this is yet another initiative to encourage people to breed, purchase and race horses in New Zealand.”

In 2023 Entain partnered with NZB as naming sponsor of the TAB Karaka Millions Twilight Meeting; the $1m TAB Karaka Millions 2YO (1200m) and the $1.5m TAB Karaka Millions 3YO (1600m). Entain’s additional support of the Karaka Millions Mega Maiden Series further strengthens that partnership and signals their confidence in the lucrative Karaka Millions Series.

“This is a great initiative that we envisage will boost field sizes across the country,” Entain Australia and New Zealand Managing Director – New Zealand, Cameron Rodger said.

“Having $25,000 worth of bonuses to chase in a maiden race will undoubtedly encourage Kiwi owners and trainers to keep striving for that maiden win. This series, as well as series like the Entain NZB Insurance Pearl Series, means there are more bonus opportunities for more horses in New Zealand than ever before.”

 

Catlyn Calder
Corporate Comms & PR Lead 
New Zealand Thoroughbred Racing
+64 027 252 2803
Catlyn.Calder@nztr.co.nz

Jessie Gower
Client and Public Relations Manager
New Zealand Bloodstock
+64 21 524 443
Jessie.Gower@nzb.co.nz

 

 

[Chief Stipe]

Geez not much help if you bred your own horse or bought it from OZ or didn't pay the KM sweepstake fee!

[Huey]

is that at the annual Ellerslie meeting ?

[Chief Stipe]

Just now, Huey said:

is that at the annual Ellerslie meeting ?

No 40 Maiden races September to May are going to have bonuses if your winning horse is KM eligible.

[curious]

One could argue, though maybe not successfully, that's it's unconstitutional for NZTR to be funding any KM initiative races when there primary objective is supposed to be "(a) Promoting and advancing thoroughbred racing in all its forms in New Zealand; "

NOT promoting and advancing breeding, sales companies and offshore sale of NZ racehorses.

[Murray Fish]

1 hour ago, curious said:

One could argue, though maybe not successfully, that's it's unconstitutional for NZTR to be funding any KM initiative races when there primary objective is supposed to be "(a) Promoting and advancing thoroughbred racing in all its forms in New Zealand; "

NOT promoting and advancing breeding, sales companies and offshore sale of NZ racehorses.

It will be interesting to see how this contradiction develops.

I wonder how any horses are being ruled out? Who is going to be pissed off?

 

[curious]

15 minutes ago, Murray Fish said:

It will be interesting to see how this contradiction develops.

I wonder how any horses are being ruled out? Who is going to be pissed off?

 

I think the rule out is clear. Must be KM eligible and 3yo+. It'll be interesting to see if the Oz sales companies react though.

[Chief Stipe]

1 hour ago, curious said:

I think the rule out is clear. Must be KM eligible and 3yo+. It'll be interesting to see if the Oz sales companies react though.

I'm going to get laughed at for this but...

This is definitely cartel like behaviour.

I can't see how some top syndicating stables see this as advantageous to their operation.  Why continue to buy well bred yearlings in OZ if you are denied entry to so much in stakes.  Let alone the skewing of the pattern.  For example should the Karaka Millions listed race be given more value than two Grp 1 seconds?

[curious]

3 minutes ago, Chief Stipe said:

I'm going to get laughed at for this but...

This is definitely cartel like behaviour.

I can't see how some top syndicating stables see this as advantageous to their operation.  Why continue to buy well breed yearlings in OZ if you are denied entry to so much in stakes.  Let alone the skewing of the pattern.  For example should the Karaka Millions listed race be given more value than two Grp 1 seconds?

You'd think the Commerce Commission might be interested.

[TAB For Ever]

From the 'glass half-full' team this announcement is encouraging.

For those of us who invest in a slow horse at NZB Karaka sales there is another chance to recoup a little and maybe sweeten the taste a little after you realise your horse not only slow but unable to earn anywhere his purchase price and/or ongoing training fees. Currently $20k would pay about 5 x months training in North !

So by winning a non-Saturday maiden race with a horse 3 or older that is Karaka registered the owner picks up $20 k and the trainer $5 k.....40 x in advance advertised  maidens.

Good news all around.....Owners happy ,breeders happy , Trainers hopeful,  Sales company [NZB] happy , a bit of excitement for the club hosting the event, should bring a bit of hype to an otherwise low key day etc, Punters will know the horses are really trying to win.

Sounds pretty good....and locked in for 3 x years !

[Chief Stipe]

So @TAB For Ever how much is NZB contributing?  

[Murray Fish]

49 minutes ago, Chief Stipe said:

I can't see how some top syndicating stables see this as advantageous to their operation.  Why continue to buy well bred yearlings in OZ if you are denied entry to so much in stakes.  

 

Top syndicating stables being? TA, Marsh, Pike? Pitman in the south?

 

On a practical level I'm sure the likes of TA  will cement in more to be trained in AU.  

[Chief Stipe]

16 minutes ago, Murray Fish said:

Top syndicating stables being? TA, Marsh, Pike? Pitman in the south?

Well anyone who buys or breeds outside the KM eligibility.

16 minutes ago, Murray Fish said:

On a practical level I'm sure the likes of TA  will cement in more to be trained in AU.  

But is that a good thing for anyone?

[Chief Stipe]

A rough estimate is at least $16m in stakes is restricted by KM eligibility.  (Anyone got a more accurate figure?)

Does anyone know the breakdown of the NZB, KM entry fee and NZTR/ENTAIN contributions?  How much subsidisation is occurring with money sourced from the general pool of revenue?

[Wingman]

I am setting myself up for the Thomasschizo of the month award as I agree with both Chief Stipe and TAB for Ever. The best thing that can happen is that for a specific payment by a specific date, yearlings that do not go through NZB can also be eligible. If NZTR do not this then unfortunately it is showing that our industry is being hijacked. 

[Doomed]

3 hours ago, curious said:

I think the rule out is clear. Must be KM eligible and 3yo+. It'll be interesting to see if the Oz sales companies react though.

I can't imagine they would be all that bothered really.

[Doomed]

2 hours ago, Chief Stipe said:

  Let alone the skewing of the pattern.  For example should the Karaka Millions listed race be given more value than two Grp 1 seconds?

We did see the ludicrous situation last year where the winner of a restricted entry sales race was voted 2yo of the year. Then didn't fire a shot as a 3yo. So the traditional Pattern is already well and truly skewed.

[curious]

1 hour ago, Doomed said:

We did see the ludicrous situation last year where the winner of a restricted entry sales race was voted 2yo of the year. Then didn't fire a shot as a 3yo. So the traditional Pattern is already well and truly skewed.

Did you mean skewed or screwed?

[Special Agent]

3 hours ago, TAB For Ever said:

For those of us who invest in a slow horse at NZB Karaka sales there is another chance to recoup a little and maybe sweeten the taste a little after you realise your horse not only slow but unable to earn anywhere his purchase price and/or ongoing training fees. Currently $20k would pay about 5 x months training in North !

You pay your money and take your chances.

[TAB For Ever]

3 hours ago, Chief Stipe said:

So @TAB For Ever how much is NZB contributing?  

I'm sure you'll sniff this answer out and cast aspersions on the whole incentive/reward ...

But NZB gets its money from breeders and owners and Entain gets its money from betting margin and losers like me !

So I guess I'll be contributing more than NZB.

And my Grandmother loses at the TAB too ,so I guess she contributing some too !

Your 'tight five' posters predict doom and gloom for NZ racing 's immediate future so why you and them even worried about this and the Pattern etc

[TAB For Ever]

2 hours ago, Doomed said:

We did see the ludicrous situation last year where the winner of a restricted entry sales race was voted 2yo of the year. Then didn't fire a shot as a 3yo. So the traditional Pattern is already well and truly skewed.

TT not only won Two Year Old of Year ,he bolted in ...75% of vote.

Ulanova,Pignan, Trobiand ,Zourion shared losers votes . Have any of these even raced this season , other than Trobiand who won in South and placed there too in Spring.He got one vote of 60 !

And TT won fresh up as a 3 year old ,but don't let the facts get in the way of a good story. He been whipped a couple of times by Orchestral and friends so no disgrace there , I'd put those failures down to dodgy tracks !

HOY Shar'N' Smart hasn't won this season ....if the vote for 2023 done to today ,Imperatriz would bolt in ,hindsight really is an exact science !

And those awards have long been contentious and will continue to be ...remember Wahid/Darci Brahma and Just A Tad /Xcellent etc .

[Freda]

10 hours ago, Chief Stipe said:

A rough estimate is at least $16m in stakes is restricted by KM eligibility.  (Anyone got a more accurate figure?)

Does anyone know the breakdown of the NZB, KM entry fee and NZTR/ENTAIN contributions?  How much subsidisation is occurring with money sourced from the general pool of revenue?

Very good question.

One thing is certain, with a new NZTR board member a commercial breeder, there will be no appetite for either criticism or change.

[Chief Stipe]

8 hours ago, TAB For Ever said:

And TT won fresh up as a 3 year old ,but don't let the facts get in the way of a good story. He been whipped a couple of times by Orchestral and friends so no disgrace there , I'd put those failures down to dodgy tracks !

Glad you finally agree.  Tokyo Tycoon raced on the dodgy new Ellerslie Strathayr and like quite a few horses that raced that night went lame.

But all good everyone including you had a great party.

[Chief Stipe]

9 hours ago, TAB For Ever said:

I'm sure you'll sniff this answer out and cast aspersions on the whole incentive/reward ..

I'm not "casting aspersions" I'm asking a valid question.  I'm surprised that as a Cost Accountant who frequently reminds us of your friends in racings elite circles that you don't have the answers at your finger tips. 

9 hours ago, TAB For Ever said:

But NZB gets its money from breeders and owners and Entain gets its money from betting margin and losers like me !

With your Kool-aid glazed eyes you once again miss the point.

As @curious has eluded to NZB are using anti-competitive behaviour to exclude what was once a very large and strong pillar of NZ Racing - the home and farm breeder from competing for a significant amount of stake money.  In my opinion that does nothing to help grow the NZ Thorougbred racing population.  The reality is NZB are shooting themselves in the foot.  Those who we need to put their couple of mares in the home paddock to commercial stallions have been excluded as have those taking the risk of improving bloodlines by buying from Australian Sales.  

NZB with the stroke of a pen could change that by allowing anyone intending to race a yearling in NZ the option of joining the sweepstake.

What is NZB contribution to the $16m+ in sweepstake racing?

As for ENTAINS contribution via the suits at NZTR that money is INDUSTRY money for ALL stakeholders to compete for not just those with tickets in the KM marketing extravaganza.  I'll say it again it screws and skews the pattern, it disincentives the very people we need to stay involved and does ZERO to address the fundamental issues facing the industry.  In fact it's making those issues worse!

[Chief Stipe]

11 hours ago, TAB For Ever said:

Your 'tight five' posters predict doom and gloom for NZ racing 's immediate future so why you and them even worried about this and the Pattern etc

I'm not sure who the "Tight Five" are that you refer to.  What I do know is those that a similar view to mine have a passion for the industry, have worked hands-on very hard in the industry and still do.

They don't predict doom and gloom - they are describing what is happening.  They point out the issues that they are experiencing now and for the last 25+ years.  They see the same mistakes still being made.  I'm sure most of them would rather see the novelty stakes distributed down the tree, the top tier reduced 25% so they could race on decent safe and fair tracks with good jockeys with a fair Handicap system.  They're not afraid with competing with all comers including the KM raffle ticket owners.

Footnote:  Arguably in the last 4 years the best 2yr old in NZ hasn't been eligible to race in the Karaka Millions.  How does that help NZ racing long term?