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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Nate having a last spin round on his wee mate Eric - and he’s in with a very good chance
Our runners this week: How our trainers rate them
Nathan’s comments
Thursday night at Manawatu
Race 4: Spiritual Bliss
6.25pm
“She won well on the first day but pulled very hard - Harry said his arms were that tired afterwards he couldn’t have lifted a 1kg dumb bell. She’s meeting a few nice ones here, up in grade, but she’s drawn better so you can’t count her out. She tries hard and really digs in.”
Race 7: Lincoln Downs
7.50pm
“She did everything right on Tuesday but she blew heavily afterwards and I think the heat got to her. She’s a place chance if she recovers OK.”
Race 8: Lincoln Maree
8.22pm
“She was jumping shadows on Tuesday and moves to the last race this time but she’s not the most genuine so I’m not holding my breath.”
Ray’s comments
Friday night at Auckland
Race 3: Lincoln Lover
6.28pm
“He hasn’t raced for three months but trialled really well. I pick he’s going to win one pretty quickly and, given he’s been running against the best two-year-olds in his previous preps, it should really be on Friday night. This lot of maidens aren’t in the same class and he’s as honest as they come, a tough little trier.”
Race 6: Debbie Lincoln
8.09pm
“She’s really up against it from the outside of the second line, with all the favourites drawn well. She has to be the unluckest animal on the planet. With her, what can go wrong will. Even at the best of times you need a reasonable draw to figure but drawn in the bondocks here she’ll need incredible luck.”
Race 8: Sugar Ray Lincoln
9.09pm
“He had a short break while some vet work was done but is in good trim. Yes, there are a few in here that are vastly higher rated but his formline says it all - it’s not often he doesn’t get a cheque.”
Race 8: Tyson
9.09pm
“He was a bit unlucky last week that he didn’t get to them a bit sooner otherwise I think he would have won. Maurice said he thought they’d come back to him more, going 2:39 speed, but his closing sectionals were easily the best in the race.”
Race 10: Prince Lincoln
10.09pm
“He’s grown into a beautiful horse, a quality looking colt, and who knows what he could be. He’ll obviously improve with the run but I still expect him to run well from his good draw. He trialled very well behind a good one.”
Race 10: Johnny Lincoln
10.09pm
“He’s drawn a bit awkwardly in seven, which gives Prince Lincoln the edge, but he too was making good ground in the workout.”
