|Thursday, August 22, 2013||Contact: Simon Cooper|
+64 4 576 6270
|NZTR Announces Rises In Prizemoney From 1 January 2014|
NZTR announces rises in prizemoney from 1 January 2014
22 August 2013, 1:46 p.m.
New Zealand Thoroughbred Racing (NZTR) announced today increases in prizemoney from 1 January 2014. This follows extensive consultation with race clubs and key stakeholder groups on the 2013-14 NZTR Funding Policy.
Minimum prizemoney for all races at New Zealand’s top five race meetings, re-categorised and re-titled ‘Iconic’ meetings, will be increased to $40,000 per race. These meetings are:
In addition, minimum prizemoney for all races at a further 15 Premier meetings, to be titled ‘Premier 1’ meetings, will be increased to $30,000. A list of these 15 meetings is attached below.
Twenty-two current Premier meetings, titled ‘Premier 2’ meetings will be unchanged with minimum prizemoney at $20,000. Five Premier meetings will revert to Feature status.
From 1 January 2014 minimum prizemoney for all Group 2 races will rise from $85,000 to $100,000.
Consistent with these top-end increases, minimum prizemoney for Feature Rating 75 and Rating 85 races will lift from $15,000 to $17,500.
Minimum prize-money for Feature Rating 65 races will lift from $12,500 to $15,000. These Rating 65-85 increases will be part-funded by Feature maiden races being lowered to $10,000 (from $12,500).
Special interest funding, including matched prizemoney funding for race clubs, will increase from $100,000 to $300,000.
In announcing these increases, Matthew Goodson, Chairman of the NZTR Board, stated: “Since 2011, when our prize-money bottomed, we have put in place a programme to consistently and sustainably increase prizemoney each year. This has been enabled by the improving results of the Racing Board.”
“From a per race average of $13,758 in FY11, average NZTR-funded prizemoney per race rose 5.4% to $14,503 in FY12, by 8.2% to $15,687 in FY13 and will rise by a further 4.0% to $16,311 in FY14 when the above increases take effect from 1 January 2014. This 4.0% average per race increase rises further, to +5.7%, when you include the full year effect of free entries from 1 March 2013.”
“It is the NZTR Board’s long-term goal to deliver a sustainable lift in prizemoney each season, while carefully investing in future growth. Based on expected growth in the Racing Board’s distributions to the industry and the full year effect of our increases from 1 January 2014, a further uplift is likely in FY15.”
PREMIER 1 RACE MEETINGS
In addition to minimum prizemoney for all races at New Zealand’s top five ‘Iconic’ race meetings being increased to $40,000 per race, minimum prizemoney for all races at a further 15 Premier meetings, to be titled ‘Premier 1’ meetings, will be increased to $30,000, as follows:
|For additional information, please visit www.nzracing.co.nz/News/9688/NZTR-announces-rises-in-prizemoney-from-1-January-2014.aspx|
|E-Mail : Office@nzracing.co.nz|