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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Nathan’s comments
Thursday night at Cambridge
Race 1: Im Not The Maid
5.14pm
“She went pretty well last week considering they came a fast last half (56.3) and she sat parked from the 800. She’s back to the amateur grade, and should get a good run from the two draw, so hopefully we can get a bit of cash.”
Race 4: Dreams Of Eric
6.38pm
“He didn’t handle the right-handed bends at Auckland last week (galloping at the 300) so we’ll stick to Cambridge from now on. There’s a bit of gate speed in the race so Harry (Harrison Orange) should be able to sit in somewhere. I think he’s a good chance to run top three.”
Ray’s comments
Friday night at Auckland
Race 1: Leo Lincoln
5.59pm
“He’s racing very well. He would have run second last week (to American Me) had he not spooked at the winning post. These are tidy horses he’s racing against but he’s holding his own.”
Race 1: Kevin Kline
5.59pm
“He’ll go better back to a mobile start. He did well to finish so close last week after a slow start than having to do all the donkey work when parked for the last lap. Maurice really likes him because he just puts him into cruise control and he keeps going.”
Race 3: Lincoln Downs
6.58pm
“She’s not as good as the other filly but some lift their game when the money’s up so maybe she can pick up a cheque.”
Race 3: Lincoln’s Spice
6.58pm
“She looks a pretty decent chance of winning. She’s a real little tradesman, does nothing wrong, is easy to handle, is a nice drive, tries hard, is great gaited and has the potential to get stronger.”
Race 5: Tyson
7.51pm
“We found out he raced with a virus last time. The next morning snot was pouring out his nose and that’s why he didn’t finish it off as well as we expected. He only whacked away in the run home. With that gone, he should race better.”
Race 5: Johnny Lincoln
7.51pm
“I think he’ll be competitive and he’s the best of ours in the race. He won well last week and has trained on well. He’s promising. I couldn’t go as far as to say he’s a classic colt yet but we’ll find out soon enough.”
Race 5: Sugar Ray Lincoln
7.51pm
“He’s doing my head in. He had no excuse for breaking last week. Maurice (McKendry) didn’t blame the wet track. He said he was gliding along, travelling beautifully, when for no apparent reason he put in big steps. I’ll put a hood on him this time to see if it’s a nervous issue.”
Race 8: The Rascal
9.23pm
“All going well, he should win what is a poor maiden field. He’s elevated himself from the transfer list and is going well now. He doesn’t have huge gate speed, so he may not lead but he should get a good trip from one. On paper, he’s our best chance of the night.”
