Minimum prize money for Saturday metropolitan races in New South Wales will increase to A$100,000 per race as part of initiatives that will see total prize money in the state rise to more than A$204-million. The new minimum, which is up 18% from A$85,000, will kick in Oct. 1.
“This increase headlines several prize money initiatives totaling almost A$53-million annually, which has been announced this year, capping off a surge in NSW prize money over four years,” said Racing NSW Chairman John Messara. “Today's announcement is a further step towards achieving a vital component of Racing NSW's Strategic Plan, intended to financially stimulate the NSW Thoroughbred Racing Industry.”
New South Wales paid out A$118.9-million in purses in 2012, meaning the latest increase marks a A$85-million rise. In addition to the new Saturday metropolitan minimum, provincial minimum prize money will go up 36% to A$30,000. Country TAB minimum purses rose 33% to A$20,000 on July 1, and on Oct. 1 country Sky 2 minimum purses will rise 25% to A$10,000. Country and provincial Championships qualifying heats will be worth A$150,000. A fortnightly A$40,000 maiden will take place at selected provincial meetings, and 30 A$40,000 country restricted maidens will be carded for selected showcase meetings.
An eighth race will be added to 20 select midweek and night ATC meetings from Oct. 1, meaning a further A$800,000 in prize money, and an A$80,000 feature race will take place at ATC night meetings from Oct. 1, adding A$320,000 in purses.
Group 2 purses will go up 14% to a minimum A$200,000, and A$150,000 (up 20%) for Group 3s. Listed prize money will be a minimum A$125,000 (up 25%). An A$150,000 feature race will take place at selected metropolitan meetings, while BOBS bonuses of A$20,000 will be added to 2- and 3-year-old listed races.
“These increases are entirely sustainable and are fully funded from the proceeds of the sale of digital media rights, Race Fields legislation fees and parity,” said Messara.
Australian Turf Club Chief Executive Officer Darren Pierce described the announcements as among the most significant in the club's history.
“The ATC is fully funding more than A$4-million to increase all metropolitan Saturday races to A$100,000, setting the new benchmark in Australian Racing,” Pearce said. “All stakes races will benefit from newly increased minimum prize money levels, and new feature races will be added to night racing fixtures and the Melbourne Cup Race Day at Royal Randwick.”
“These prize money increases are just one part of the ATC's focus and long-term strategy to grow a stronger and sustainable future for Sydney racing for decades to come,” he added. “The ATC will continue to help fund investment into racetracks, training infrastructure and our spectator facilities, for the benefit of everyone in racing. It's time to make Sydney racing the strongest and most competitive racing in the world.”
Horse Welfare Fund Established…
In addition to wide-sweeping prize money increases, Racing NSW announced yesterday it will establish a Horse Welfare Fund, which will be predominantly funded by a 1% deduction of prize money paid in the state. Prize money is expected to total A$204-million over the coming year, meaning A$2-million will be dedicated to the scheme.
The scheme will provide resources for care, retraining and re-homing of all NSW Thoroughbreds, whether they have made it to the track or not. Racing NSW will establish a new operating division for the initiative, including the appointment of a horse welfare veterinarian. The program will establish relationships with riding schools and other equestrian organizations to promote re-homing; expand the current Thoroughbred Rehabilitation Program; and raise awareness for Thoroughbred aftercare.
“I believe that Thoroughbred horses are one of the best looked after and cared for breed of animals by their owners and this program is just another initiative to continue the great work already being done” said Racing NSW Chief Executive Peter V'landys.
Not a subscriber? Click here to sign up for the daily PDF or alerts.
