Harness prize money to be cut by 10% next year - $1.6 million lost to already ailing code
By Barry Lichter • 22 December 2022
Harness Racing New Zealand will reduce funding for stakes by 10 percent for six months next year.
The cuts, which will see an estimated $1.6 million lost to industry participants, will affect all meetings, including Premier and Group race dates between February 1 and July 31.
The decision comes in the wake of the TAB’s announcement that it will reduce funding to all the codes by $15 million for the remainder of the season because of a downturn in betting.
Harness racing’s share of that amount comes to $4.4 million but HRNZ said today it would make up some of the shortfall by using $2.1 million of its reserves.
HRNZ also decided today it will reduce its spending by about 10 percent, or $420,000, between now and July 31 by deferring non-urgent projects.
It has also dropped from the calendar three Wednesday meetings due to be held at Addington during May.
Clubs can decide the best way of managing the reduction in funding for stakes, HRNZ said, and there will be no reduction in allowances paid for their meetings, venues, or tracks.
The TAB, in reducing its payout by 9% for the rest of its financial year, cited race abandonments, intense competitive pressure from unregulated online offshore operators, and lower average bet size in key customer segments as economic conditions tightened.
Neither of the other two codes will drop stake money as a result of the TAB funding cut.
New Zealand Thoroughbred Racing has used $8.5 million of its Sustainable Reserves Fund so gallops stakes will not be affected at all.
Greyhound Racing New Zealand has also opted to maintain stakes at their current level to maintain industry confidence, says CEO Edward Rennell.
While its funding decline from the TAB is estimated to be between $1.8 million and $2 million, Rennell says GRNZ will use reserves, defer and review some projects (like no lights on a new straight track) and review its operating expenditure.
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Ray’s comments
Thursday night at Cambridge
Race 1: Rivergirl Bella
5.44pm
“She did well here last time as she had to do a bit to get to the lead and she dug in and fought on. She’s certainly a chance if she repeats that effort.”
Race 4: Lincoln Linda
7.09pm
“I thought she went super last time after doing a lot of work. She can do that because she has an engine and is tough. She’s a bit one-dimensional - you have to turn her loose early - but from the two draw she should be able to lead and that’s where she does her best work.”
Race 5: Sugar Ray Lincoln
7.34pm
“I think he’s a bit stronger after his spell. It’s not a great field - most will die on that mark - and I don’t see a problem with the standing start as he’s nicely gaited. He could be marginally unfit after three months out but he’s done quite a bit of work and I can see him going a half-decent race.”
Race 6: Lincoln Maree
7.59pm
“She had every chance last time but I can’t see why she won’t go well again. She’s as honest as they come and tries like hell.”
Race 7: The Night Fox
8.29pm
“You’d think he’d lead easily from the inside. He’s had bad draws and still got the money, so I’m sure he’ll go another good race. I’m surprised they sold him so cheaply. He’s better than people think.”
Ray’s comments
Friday night at Auckland
Race 1: Lincoln Wave
5.09pm
“With the trip he got in the Harness Million I thought he’d have run on a lot better. But he was still a bit short on fitness and sometimes we can expect too much of these horses, he was racing the best, after all. It’s a big drop in grade here and he’s a pretty fair horse.”
Race 1: Leo Lincoln
5.09pm
“He’s an honest sort who’s in a good space but he won’t get a wonderful trip from the outside of the gate this time so I’m not holding my breath.”
Race 3: Sammy Lincoln
6.04pm
“He’s training down well but you never know what he’s going to do. You think you’ve got him sorted and he does something silly. But we know if the real Sammy turned up, he’d be very hard to beat as he’s got a lot of speed.”
Race 5: Prince Lincoln
7.05pm
“He’s another where you don’t know which one will turn up but we’ve gelded him since his last run, so we’ll see if that helps. He trained well the other day.”
