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...
Reefton Posted August 11, 2019 Share Posted August 11, 2019 Surely not!(And I know this is harness racing) Big Dave and his cronies assured us that stakes were to double in the new season. 2 Quote Link to comment Share on other sites More sharing options...
Chief Stipe Posted August 11, 2019 Author Share Posted August 11, 2019 2 hours ago, Chief Stipe said: 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”. Geez how would he feel if stakes were increased to keep up with costs and the promises? Orgasmic? Quote Link to comment Share on other sites More sharing options...
Freda Posted August 12, 2019 Share Posted August 12, 2019 Considering that there are no reserves left and the flash website is underperforming bigtime, it staggers me that stakes are holding steady . Must have been some enlightened ' borrowing ' undertaken. Quote Link to comment Share on other sites More sharing options...
Kopia Posted August 12, 2019 Share Posted August 12, 2019 1 hour ago, Freda said: Considering that there are no reserves left and the flash website is underperforming bigtime, it staggers me that stakes are holding steady . Must have been some enlightened ' borrowing ' undertaken. Exactly Freda. And Mr Allen is crowing about leading the charge to get rid of the j.c.a. and set up an 'umbrella' integrity system...which is going to cost at least $2 million more than the existing set up. I think the word to use in respect of that bullshit is 'smokescreen'. The way Mr Peters is manipulating and causing chaos in parliament ( who would've guessed eh? ) I wouldn't hold your breath for any good news from that corner! when he talked about 'dead horses' I didn't realise he included his coalition of loser partners as well. 2 Quote Link to comment Share on other sites More sharing options...
Freda Posted August 12, 2019 Share Posted August 12, 2019 35 minutes ago, Kopia said: Exactly Freda. And Mr Allen is crowing about leading the charge to get rid of the j.c.a. and set up an 'umbrella' integrity system...which is going to cost at least $2 million more than the existing set up. I think the word to use in respect of that bullshit is 'smokescreen'. The way Mr Peters is manipulating and causing chaos in parliament ( who would've guessed eh? ) I wouldn't hold your breath for any good news from that corner! when he talked about 'dead horses' I didn't realise he included his coalition of loser partners as well. Ha....well, Winston is running the show....as if anyone couldn't work out the game plan. . Quote Link to comment Share on other sites More sharing options...
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