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: Lincoln Linda
5.55pm
“She needed the run last week. Even though she galloped in the score-up, her manners are definitely improving as she didn’t pull in the running. She’ll be sharper this week so hopefully she’ll pace away and get the job done. It looks a pretty even field.”
Race 4: Lincoln Lover
7.18pm
“He only battled away last start and Fergie said he wasn’t really on the bit at the back of the field. He’s been racing for a while and might be a bit fatigued. The outside draw doesn’t help either and Soul Artist was very impressive winning last time.”
Race 6: Lincoln Maree
8.22pm
“She hasn’t got a lot of speed but she tries hard so the best spot for her might be in front, rolling along. That said, her closing sectionals (57.8, 27.9) were the best in the race last time. We couldn’t get one of the Sharpe boys so we’ve had to settle for Frank Phelan. She’s an each-way chance with Andy (Sharpe) the one to beat on Commander Lincoln.”
Ray’s comments
Friday night at Auckland
Race 2: Leo Lincoln
5.21pm
“We’ve thrown him in the deep end, but it was either that or trial. He’s been going OK but he’ll need the run for sure.”
Race 2: Spiritual Bliss
5.21pm
“She won’t be completely out of it, she’s better than people think. The inside second row draw isn’t ideal, and luck will obviously play a part, but I think she’ll be competitive.”
Race 3: Rivergirl Bella
5.57pm
“She was always going to need the run last time as it was her first for a long time. She’ll improve off that. She’s plenty fast enough but needs to get fitter.”
Race 3: Sammy Lincoln
5.57pm
“We found he had a bit of a virus after he last raced so had to ease up on him. He’ll be a little short (on fitness) but his class should carry him through. He is vulnerable with his behaviour at the moment but he’s only got to get round without any silliness and I can’t see how they can beat him.”
Race 4: Johnny Lincoln
6.24pm
“He’s racing super and they’ll know he’s there. He’s trained on well since his Metro Final win. He races tough and at Auckland they have to be tough now.”
