HRNZ CEO Brad Steele Resigns - last day 24 April 2026

[paleface adios]

Ir Mr profit rumor true our ceo resigned or is it one of his nasty rumors 

HRNZ Chief Executive Brad Steele resigns

13 April 2026 , Media Release

The Board of HRNZ advises that our Chief Executive Officer, Brad Steele, has resigned from his position. Brad’s final day in the role and the office will be Friday 24 April, after which he will be returning to live in Australia.

Brad has led HRNZ for nearly two years and has made a significant contribution during that time to both the organisation and New Zealand harness racing. The Board is grateful for Brad’s contribution, and particularly the extensive work he has done to increase and enhance HRNZ’s visibility and relationships with key stakeholders.

There will be opportunities to farewell Brad as he continues to work with our people at HRNZ and industry as we undertake the transition of responsibilities. 

The Board remains fully committed to the delivery of HRNZ’s strategy and will work closely with the Senior Leadership Team to ensure continuity and stability for the organisation and the wider industry while a replacement CEO is appointed.

We will in due course inform industry of any changes to responsibilities within HRNZ as we work through a process to find a new CEO. 

In the interim and from 28th April, all business-related matters that would normally be channelled or communicated to Brad can be sent to Liz Bishop and all racing and wagering related matters to Matthew Peden. 

The Board thanks Brad for his leadership and contribution and we wish him all the best as he returns to Australia.

Yours sincerely

Grant Jarrold
HRNZ Chair

[Brodie]

Resigned?

Yes of course he resigned, why would you when everything was positive for harness?

Everyone knows it has nothing to do with how badly financial in the crap they are through total mismanagement! 😂 

The media report in HRNZ is a cover up, which totally vindicates what a few of us have been saying for a very long time.

It is going to be a very hard struggle to get out of the crap,  but hopefully they appoint  someone who knows how to run a business profitably as it has been a shocking effort in recent years.

Stake money needs to be slashed Now and promises made rescinded or no way on earth can it flourish!

 

[pete cook]

Wow, a year earlier than I expected! Anyone for a poison chalice?

[mikeynz]

I think he resigned as he was frightened to come here and explain to poster lol.........I don't think it's a case of slashing stakes, it's a simple case of working within budgets, the market determines what you spend based on your income, pretty much applies to every business, household and sporting organisation's, simple as.

[Brodie]

30 minutes ago, pete cook said:

Wow, a year earlier than I expected! Anyone for a poison chalice?

Peter, once the TAB Advisory Board came out and made the statements it did, then I thought it would be a short tenure, as things are serious.

Thing is Brad Steele is only the figure head and I would be surprised if he was making that many decisions, but by being the CEO he has the final say.

If you are being paid hundreds of thousands of dollars then you need to be performing at a very high standard and with success, which wasnt happening despite what some think!

You just can not shell out money the way they were with gay abandon to please people when they just could not afford to financially.

 

 

[Brodie]

9 minutes ago, mikeynz said:

I think he resigned as he was frightened to come here and explain to poster lol.........I don't think it's a case of slashing stakes, it's a simple case of working within budgets, the market determines what you spend based on your income, pretty much applies to every business, household and sporting organisation's, simple as.

Correct you have to operate within your income and that will definitely mean slashing stake money, especially when Entain cash splash finishes.

Payout from from the TAB is going to be dramatically reduced and then what?

There are several ways that the TAB could make changes to improve racing and turnover which I have expressed previously.

[Doomed]

4 hours ago, Brodie said:

 

Stake money needs to be slashed Now and promises made rescinded or no way on earth can it flourish!

 

Most meetings I look at are running with $10,000 and $11,000 races. How on earth can they slash that?

[pete cook]

27 minutes ago, Doomed said:

Most meetings I look at are running with $10,000 and $11,000 races. How on earth can they slash that?

They don't have to, they stop chucking money at slot races and the like. Reduce the top end by an acceptable amount and look after everyone.

[mikeynz]

Reading one Facebook page, all the comments are positive about Brad Steeles impact, so I don't know, maybe they only think of the next week instead of long term, we must remember Steele is the figurehead for harness but you never know what or who he works with, all committees have differences, maybe he's left because of those around him.

[paleface adios]

2 minutes ago, mikeynz said:

Reading one Facebook page, all the comments are positive about Brad Steeles impact, so I don't know, maybe they only think of the next week instead of long term, we must remember Steele is the figurehead for harness but you never know what or who he works with, all committees have differences, maybe he's left because of those 

Ceo sounds like job for jason  teaz throw hat in the ring straighten them out

[Brodie]

2 hours ago, Doomed said:

Most meetings I look at are running with $10,000 and $11,000 races. How on earth can they slash that?

You are obviously not looking at all races!

Maybe Palmy might be at level most are far more than that.

Auckland and Addington on Fridays are always far more than that anything from $15k up.

They need to cut them now, there will be many not liking it but they have no option not to.

They have brought it on themselves, carry on the way they are currently and it will become worse.

Anyway watch this space 

[Shab]

3 hours ago, Doomed said:

Most meetings I look at are running with $10,000 and $11,000 races. How on earth can they slash that?

Racing for less than half that at Globe Derby on Tuesday and pretty much all days somewhere in Australia.

[Shab]

8 hours ago, Brodie said:

Stake money needs to be slashed Now and promises made rescinded or no way on earth can it flourish!

How do you slash without snuffing out participation? Own any? Costs money to train them. Trainers and drivers need to be able to make some money. Only answer is more revenue but that means you need more people punting and Entain doing their best to turn more people off punting and just extracting more from a diminishing pool of mug punters

[Brodie]

7 hours ago, Shab said:

How do you slash without snuffing out participation? Own any? Costs money to train them. Trainers and drivers need to be able to make some money. Only answer is more revenue but that means you need more people punting and Entain doing their best to turn more people off punting and just extracting more from a diminishing pool of mug punters

Yes there will be a lot that will  not bother anymore and hard to attract new owners!

However, what is the alternative, as HRNZ have been spending like drunken sailors as some of us have been saying for years.

HRNZ have blown their opportunity and we are about to feel the consequences and yet we hear nothing from HRNZ?

Correct, the TAB; Entain business policy of turning punters away I keep saying is badly flawed but that will be their loss.

[mikeynz]

Only 6 noms for the 2 main races at Cheviot Sunday, maybe some more may turn up before fields drawn 2yo fillies, 40 grand and the rating 55+ cup,  25, no way will these races generate much turnover, these are the fundamental problems harness racing has created, a barrage of overpriced juvenile races and a handicapping system that's either creating small fields or lopsided ones, 

Edited April 14 by mikeynz

[the galah]

11 hours ago, Shab said:

How do you slash without snuffing out participation? Own any? Costs money to train them. Trainers and drivers need to be able to make some money. Only answer is more revenue but that means you need more people punting and Entain doing their best to turn more people off punting and just extracting more from a diminishing pool of mug punters

But you must see, to argue for the continuation of overspending,whatever the reason for it,is to argue for ongoing poor fiscal management.

what business has that ever worked for.

If people in charge use that as a reason to continue the overspending,they need to be replaced..

Edited April 14 by the galah

[Chief Stipe]

27 minutes ago, the galah said:

But you must see, to argue for the continuation of overspending,whatever the reason for it,is to argue for ongoing poor fiscal management.

what business has that ever worked for.

If people in charge use that as a reason to continue the overspending,they need to be replaced..

How do you know that Wagering Revenue ISN'T funding Stakes?

[the galah]

40 minutes ago, Chief Stipe said:

How do you know that Wagering Revenue ISN'T funding Stakes?

The point thats always been made is expenditure by hrnz is not sustainable based on  income.

That hrnz cash assets will be diminishing because of that overspending.

that the main source of income is from wagering and the main expenditure is on stakes.

That expenditure by hrnz takes many forms,but the first place hrnz will look to cut costs is stakes,bonuses, then the likes of employees.

so you have to look at the overall picture,include everything,not just stakes and wagering so your question has many possible connotations and isn't as simple as it seems.

And of course ,they have to plan for the future and not focus just on the present,as in the not too distant future income for HRNZ is forecast to drop ,based on expected wagering not meeting the curent entain payout level.

so stakes and wagering  are the two most referred to  becaue they are the biggest factors,but not the only factors.

its not just that .

HRNZ  have a policy as regards auckland that seems in fairy land. How could anyone have confidence in a national organisation that uses illogical reasoning as the basis of their decision making for auckland

Edited April 14 by the galah

[Chief Stipe]

Well the last reports I saw which was August 2025 the Gross Revenue was more than Stakes paid.  The margins have improved because @Brodie isn't allowed to bet and win.  Yes the tote pools are very very small but looking at past data Harness punters hammer fixed odds rather than the tote.

[Westview]

17 hours ago, Doomed said:

Most meetings I look at are running with $10,000 and $11,000 races. How on earth can they slash that?

If there's only 4 runners quite easily 

[the galah]

30 minutes ago, Chief Stipe said:

Well the last reports I saw which was August 2025 the Gross Revenue was more than Stakes paid.  The margins have improved because @Brodie isn't allowed to bet and win.  Yes the tote pools are very very small but looking at past data Harness punters hammer fixed odds rather than the tote.

 

But the bottom line is the value of their cash and assets went down by about 3 million,when compared to the previous year.

 

[Westview]

1 hour ago, Chief Stipe said:

Well the last reports I saw which was August 2025 the Gross Revenue was more than Stakes paid.  The margins have improved because @Brodie isn't allowed to bet and win.  Yes the tote pools are very very small but looking at past data Harness punters hammer fixed odds rather than the tote.

Not a great example Chief,  what month of the year pays out the least stakes.  stakes are part of the cost of holding a race meeting, the figures used to be published with the actual costs of running a meeting and margins etc of betting but for whatever reason that stopped along with any transparency. Individual clubs still receive some information around there own meetings and so they should to understand how their club is traveling. 

[Brodie]

3 hours ago, Chief Stipe said:

Well the last reports I saw which was August 2025 the Gross Revenue was more than Stakes paid.  The margins have improved because @Brodie isn't allowed to bet and win.  Yes the tote pools are very very small but looking at past data Harness punters hammer fixed odds rather than the tote.

Chief, most meetings are not covering costs from wagering, very few indeed, thats why we arent seeing Gross Betting Revenue.

things I believe are far worse  than most know, it is not rocket science.

they are downright operating uneconomically and it is going to really hurt once the Entain money is used up.

The Cambridge meeting last week would have been a horrific loss for both Cambridge and HRNz , guessing only but wouldnt be any change out of $500k loss.

I would suggest there was more wagering on Addington that night from what I saw of the tote pools!?

Turnover I know was down on last year and fewer punters I have heard from the inside, and the TAB’s business plan of turning away punters is working!

Highly doubt there will be another The race slot race again at Cambridge, if there was far better to race at Addington and bar the Ozzies!

 

[the galah]

1 hour ago, Brodie said:

Highly doubt there will be another The race slot race again at Cambridge, if there was far better to race at Addington and bar the Ozzies!

 

The cambridge slot race illustrated  everything dumb about HRNZ.

they stated it needed at least 8 starters to make it viable,then back tracked when they could only get seven.

They knew when they backtracked, the majority of the stake money was going to go to australia.

They knew the race was going to bomb from a turnover point of view.

The fact they got a really big first 4 carry forward is the only reason there was any betting on the race.They wouldn't have known that when they decided to run the race.HRNZ will no doubt say,tote turnover was good,but thats only because of the carry forward. 

They think people seeing a great trotter lead and win a walking race ,that was a total non event to anyone hoping for a competitive race,was somehow wonderful and worth the $200,000 investment.Sorry but it most definitely wasn't.The  2 year old trot,  5 horse field, at addingron created more discussion and excitement than the cambridge slot trot racet 

Greg o'connor said on trackside what a great achievement by mat peden to get the race run.-mr o'connot may think so,but to me it illustrated hes totally out of touch with what nearly everyone else thinks.

Ask 1000 stakeholders in nz whether they would rather see hrnz spending $200,000 on a trot slot race or boosting stakes at the local meetings and you would get about 98% saying they wanted it directed at the local meetings.

Everything i've said about that trot slot race,HRNZ would have known beforehand,but they thumbed their noses and said,we know better, and ran it anyway.

The slot trot really was just a very good example of irresponsible fiscal governance.

Edited April 14 by the galah

[paleface adios]

3 hours ago, Westview said:

Not a great example Chief,  what month of the year pays out the least stakes.  stakes are part of the cost of holding a race meeting, the figures used to be published with the actual costs of running a meeting and margins etc of betting but for whatever reason that stopped along with any transparency. Individual clubs still receive some information around there own meetings and so they should to understand how their club is traveling. 

Nigel  for ceo do great