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:

1. 25 January 2014 - Wellington Cup Day at Trentham
2. 1 March 2014 - New Zealand Derby Day at Ellerslie
3. October 2014 - Hawkes Bay Spring Classic Day at Hastings
4. November 2014 - New Zealand Cup Day at Riccarton Park
5. 26 December 2014 - Boxing Day Races at Ellerslie

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:

1. 1 January 2014 – New Zealand Herald Christmas Carnival New Year’s Day Races at Ellerslie
2. 18 January 2014 - Telegraph Day at Trentham
3. 26 January 2014 - New Zealand Bloodstock Karaka Million Twilight Meeting at Ellerslie
4. 8 February 2014 - International Day at Te Rapa
5. 5 March 2014 - Barfoot and Thompson Auckland Cup Day at Ellerslie
6. 8 March 2014 - Diamond Day at Ellerslie
7. 15 March 2014 - Wellfield New Zealand Oaks Ladies Day at Trentham
8. 29 March 2014 - Oaks Manawatu Sires’ Produce Day at Awapuni
9. September 2014 - Hawkes Bay Plate Day at Hastings
10. 4 November 2014 - Melbourne Cup Day at Ellerslie
11. November 2014 - Mile Day at Riccarton Park
12. November 2014 - 2000 Guineas Day at Riccarton Park
13. November 2014 - Counties Cup Day at Pukekohe
14. December 2014 - Captain Cook Stakes Day at Trentham
15. December 2014 - Waikato Cup Day at Te Rapa