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
5.40pm
“She’s going as good as she can. She’s got a bit of speed but isn’t that strong. But she should get a nice trip here and be right in the frame. She’ll win one soon.”
Race 1: Jessie Lincoln
5.40pm
“She’s a big filly who has taken time to mature but she has plenty of ability. She’s a good pacer and I expect her to improve on her resuming run and go well.”
Race 1: Lincoln Dealer
5.40pm
“He’s a bit of a handful, too keen for his own good sometimes, so I’ll be happy to see him just get round and do most things right. He’s no superstar but he’s coming to it slowly but surely. We’re throwing him in the deep end here and he has a terrible draw but we have to start somewhere.”
Race 4: Lincoln Maree
7.04pm
“She’s as tough as old boots and tries like hell and you can’t ask for much more than that. She just lacks a bit of speed but has a good attitude. She usually finds one or two better than her but will make them work for it anyway.”
Ray’s comments
Friday night at Auckland
Race 1: Prince Lincoln
4.56pm
“He’ll be improved for the last run, has trialled and is working well, and has a better draw (the ace) this time. You just have to be a bit wary because he’s let us down a couple of times.”
Race 3: Angelic Copy
5.56pm
“She had a tie-up issue but seems much better now. It’s her first run for a while so she’ll definitely need the run. I’m just hoping she gets around all right and pulls up OK.”
Race 3: Colonel Lincoln
5.56pm
“He’s a very capable horse, if injury prone, and he’s been back in work for three or four months. You never say never but, realistically, he’s just starting off so you can’t expect him to be at his peak.”
Race 5: Sammy Lincoln
6.55pm
“I know I said it two starts back but if there’s such a thing as a certainty, he’s it. Even from seven on the gate, everything says he’s the one to beat. If he hadn’t gone a bit goofy up the home straight last time in the Sires’ Stakes Semi at Cambridge, he’d have easily run third. This is a huge drop in class.”
Race 7: Sugar Ray Lincoln
7.58pm
“I expect he’ll be a bit sharper this time. He’s looking well and feeling good but I still think another run under his belt will be beneficial for him. He’s not one to leap out of the ground but he is capable of taking the race.”
