Chief Stipe Posted August 11, 2019 Share Posted August 11, 2019 MEDIA RELEASE CLUB FUNDING FOR 2019-20 HARNESS RACING SEASON Harness Racing New Zealand (HRNZ) today announced that funding to clubs for the 2019-20 racing season remains unchanged (on a race-by-race basis) from 2018-19. This has been achieved due to the Racing Industry Transition Agency (RITA) maintaining funding to the codes at a consistent level. Ken Spicer, Board Chair, said “We are delighted to be able to hold funding at existing levels and congratulate the new board of RITA for ensuring that distributions to the codes has allowed this to continue”. All clubs are now bulk-funded by HRNZ and set their own stakes levels. It is the expectation of the HRNZ board that all clubs set stakes at a level that matches or betters the 2018-19 season. This season all clubs will pay stakes monies to the first five place getters (in line with the rating system) as well as making a payment to all starters. The minimum stake remains at $6,000 with most clubs choosing to pay well above this level. HRNZ has confirmed it will not continue with the first totalisator win supplement for the 2019-20 season. This initiative, introduced in March 2017, has largely been funded from reserves, in anticipation of new funding coming into the industry. There is an expectation that all codes will see several new sources of funding coming on stream later in the season (reduction in the Betting Levy, Race Fields, Point of Consumption) enabling a later review of this decision, however there is no certainty as to exactly when these funds will become available. “We know how popular the first winners supplement has been, however as a Board we must ensure we are acting in a fiscally responsible manner. HRNZ is keen to restore the first winners supplement as funding allows,” said Spicer. Quote Link to comment Share on other sites More sharing options...
Rusty Posted August 12, 2019 Share Posted August 12, 2019 It's splendid to hear Ken Spicer is delighted. Most owners are not delighted to have the first win supplement removed. "Acting in a fiscally responsible manner." Thanks for that Kenny mate. 2 Quote Link to comment Share on other sites More sharing options...
LongOwner Posted August 12, 2019 Share Posted August 12, 2019 They subsidise the Group 1 races - ask Ken Spicer how much ATC & NZMTC get as direct top up funding from HRNZ - then why shouldn’t that be reduced and the $1,500 stay in place . The NZ Cup gets I think $400k ( maybe wrong and would appreciate confirmation ) but it is huge . Quote Link to comment Share on other sites More sharing options...
hunterthepunter Posted August 12, 2019 Share Posted August 12, 2019 5 hours ago, Rusty said: It's splendid to hear Ken Spicer is delighted. Most owners are not delighted to have the first win supplement removed. "Acting in a fiscally responsible manner." Thanks for that Kenny mate. spicer must be delighted as he pockets syndicate stake money to so I'm hearing will be less owners around soon 1 Quote Link to comment Share on other sites More sharing options...
Rusty Posted August 12, 2019 Share Posted August 12, 2019 (edited) 1 hour ago, LongOwner said: They subsidise the Group 1 races - ask Ken Spicer how much ATC & NZMTC get as direct top up funding from HRNZ - then why shouldn’t that be reduced and the $1,500 stay in place . The NZ Cup gets I think $400k ( maybe wrong and would appreciate confirmation ) but it is huge . And it wouldn't matter if the stake of the Cup was $600,000, or $1,000,000 this season. The same horses would turn up. Edited August 12, 2019 by Rusty 2 Quote Link to comment Share on other sites More sharing options...
Brodie Posted August 12, 2019 Share Posted August 12, 2019 Jewels Day would cost the industry a helluva lot of money as well. We all know that there is money in racing a horse nowadays, with the costs continuing to increase and stake money no better than 30 years ago. You can not blame owners selling their horses overseas when they have got next to no show of winning the stakes races where the bigger stakes are! Stakes decreasing, punters being driven away, yeah going good Ken! 3 Quote Link to comment Share on other sites More sharing options...
Brodie Posted August 12, 2019 Share Posted August 12, 2019 Sorry no money 1 Quote Link to comment Share on other sites More sharing options...
Brodie Posted August 12, 2019 Share Posted August 12, 2019 Does anyone know what the several new sources of funding coming on stream mean? reduction of betting levy? Point of Consumption? Race fields? Quote Link to comment Share on other sites More sharing options...
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