Tabcorp Park Menangle prizemoney increase

[Triple V]

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The New South Wales Harness Racing Club has announced a prizemoney increase from $5,500 to $7,000 for the Tuesday races run by the Club at Tabcorp Park Menangle effective from July 1.

This is a significant 27% elevation in the prizemoney offered and is a result of the recent victory in the Racefields litigation.
The announcement however also carried the decision by the Club to withdraw the distribution of petrol cards for each starter which had been in operation for the past year.
“The Directors looked at options available to the Club with the win in the High Court with Racefields and felt that the owners of the lower grade horses would be best served with an increase in prizemoney,” NSWHRC Chief Executive John Dumesny stated.
“Metropolitan races received a massive boost in prizemoney from the proceeds of investments from the Harold Park sale.”
“As the entire industry is now aware we were living beyond our funds over the past few years waiting on a win in the Courts.
“Now that we have that win we can edge our prizemoney forward.”
The Menangle licence meetings held on a Tuesday (160 races) are funded at Tier 2 level by HRNSW but the Club will put additional funding ($2,000 per race) towards these races so that the same level of prizemoney is offered for all Tuesday meetings. Tabcorp Park Menangle now offers the highest levels of prizemoney for all grades of horses nationally.
The metropolitan minimum level is $22,000 per race and the career minimum level is $7,000.
The total prizemoney budget for FY 2012/13 is $16.2 million. This is an increase of $3.5 million or 28% above the current financial year prizemoney distribution.
“The Directors will be considering initiatives at their next Board Meeting which will focus on the Country Series,” Dumesny said.
“With the constantly-changing wagering landscape, the Directors also need to be satisfied that any prizemoney increases can be sustained into the coming years.
“Hopefully in the next financial year our wagering income will be not be influenced by any matter outside of our control.
“We have had the telecast imbroglio, equine influenza and our legal battles with Racefields over the past few years.
“The Club elected to withdraw the distribution of the petrol cards as on the whole it wasn’t considered effective.
“There were representations from owners and trainers considered as well as the fact many participants believed there was an inequality around which stables received the bulk of the cards and the distances they travelled.

“All factors were weighed up before it was declared to call and end to the incentive.” Dumesny concluded.
Prizemoney Split $7,000
1st$4,690
2nd$945
3rd$630
4th$280
5th to last $70

by Sean VELLA

[Greg Hando]

Absolutely great news.

[Triple V]

Sure is. Bloody terrific.

[dizzy]

Whilst extra prizemoney is welcome is the best use of it to further reward success? or would subsidising unplaced runners to encourage participation rates and increase field size which inturn increase turnover be a better option?

[Triple V]

Nah. Socialism never works Dot. Eventually it runs out of other people's money.

[dizzy]

I actually very liberal in a family of socialists but given the current state of play in both the industry and the economy perhaps some socialism is in order. Jeff Gural at the Meadowlands has introduced 2% of stakesmoney to unplaced runners in an attempt to increase field sizes and as they say over there increase the "handle". I also recall Peter V'landy's intended to increase the prizemoney for 5-10th from the race fields revenue to increase field sizes, and the gallopers already get floating, shoeing and stablehand subsidies to go the the races. I don't think I need to say which administrators I'd have more faith in.

[aussiebreno]

One question, living under a rock etc...with Menangle going to $7000 are places like Bathurst, Newcastle, Wagga also going to $7000?

[dizzy]

I don't think so Brenno, Menangle is using their share of the racefields legislation money to fund the increase, whilst the other clubs also benefit from the racefields legislation funds I don't think individually any of them will be able to match the increases as the money will need to be shared around more clubs. I would be happy to be wrong though.

[mightymo]

One question, living under a rock etc...with Menangle going to $7000 are places like Bathurst, Newcastle, Wagga also going to $7000?

No Brenno.

That increase was announced by the NSW HRC(ie menangle) not HRNSW

[aussiebreno]

Thanks guys. I am aware of the difference between NSWHRC and HRNSW but was just making sure I hadn't missed a possible seperate announcement by HRNSW.

I have a post waiting to go but will sit on it for another 24 hours deciding its the right thing to post or not!