Are HRV broke? [Archive] - Harness Racing Forum

Messenger

08-04-2023, 12:14 PM

The following is a statement by the Presidents of the Victorian Harness Racing Club (VHRC), Trots Clubs Victoria (TCV), Victorian Harness Racing Trainers and Drivers Association (VHRTDA) and the Victorian Square Trotters Association (VSTA) following the recent announcement by Harness Racing Victoria (HRV) of cost saving initiatives including prizemoney reductions of $3.9M on 2 August 2023.

We have significant concerns as to the management, performance and oversight of our Harness Racing Industry in Victoria that has led to prizemoney cuts and required significant cost reductions as announced by HRV on 2 August.
Collectively the Presidents of the Kindred Bodies wrote to the Chairman and CEO of Harness Racing Victoria back on 9 June 2023 outlining concerns and requesting a meeting as a matter of priority to discuss such concerns and the plans that HRV has to address these issues.
We are extremely disappointed that despite follow up requests and the perilous financial position that HRV finds itself in that such a meeting has not been facilitated by HRV or taken place in the eight weeks since that request.
We reject the notion that HRV consulted extensively with our Kindred Bodies in relation to the restructuring of prizemoney leading up to the recent announcement. HRV may have sought out the opinions of individuals within the Industry however extensive consultation with the Kindred Bodies that we represent has not taken place.

The Kindred Bodies that we represent cannot understand how HRV have ended up in such a dire financial position despite receiving substantial financial support from the State Government in recent years. This position is not reached overnight and we question the financial oversight, accountability and lack of earlier intervention by those in charge of the sport that has led our Industry to be in such an ominous financial position.
We have major concerns that HRV has been seemingly overstaffed and unacceptably inefficient with excessive administration costs in comparison to other State Controlling Bodies in recent years. In the 2022 financial year, HRNSW had 45 full time employees and employments costs of $5.6M. In the same year, HRV had 100 full time employees and their employment costs (excluding Tabcorp Park, Melton) were $14.1M.
We question why HRV employment costs are 2.5 times higher (an extra $8.5M in employment costs) than that of HRNSW and why the number of full-time employees under HRV’s control is more than double that of HRNSW?
It’s obvious that a more efficient administration structure leads to more funds being available for prizemoney with HRNSW having minimum stake levels in the Country of $6,900 and
$9,600 compared to HRV’s $4,500 and $7,000 respectively.

We note that a number of Harness Racing States in Australia and also New Zealand have recently announced positive stake money increases and appear to be on the way up. So, we find it extremely disappointing that now in Victoria, cuts to prizemoney are required when the Controlling Body here has continued to grow its administration base in recent times with seemingly little concern as to the financial position of the industry or the stagnant returns to Industry stakeholders.
All of this paints a very bleak picture as to the management, performance and oversight of the Harness Racing Industry in Victoria in recent years. We note that the Government appointed Board of HRV have been in their roles for many years now.

In recent weeks, the Presidents of the Kindred Bodies have been seeking a meeting with the Racing Minister Anthony Carbines to discuss our concerns and the poor financial position that Harness Racing Victoria finds itself in. It is our view that Harness Racing Victoria requires new competent, capable and passionate people on the Board (appointed in consultation with the Industry) to work with new CEO Matt Isaacs to turn our Industry around and deliver better financial outcomes for our hard working Harness Racing participants and stakeholders.

Emmy Mazzetti - President Victorian Harness Racing Club
Paul Rowse - President Trots Clubs Victoria
Anthony Butt - President Victorian Harness Racing Trainers and Drivers Association
Anne-Maree Conroy - President Victorian Square Trotters Association

The above was copied from the AHRI facebook page

This makes the new CEO's statement look ridiculous and indicates an investigation is required in order to achieve a massive improvement from our administrators

Messenger

08-04-2023, 02:28 PM

A suggestion:
The above 4 organizations need to schedule meetings with their members for September in anticipation of having something to report to their members after an August meeting with the CEO, Chairman & Minister.
If the meeting does not come up with a better deal or no meeting takes place, they can then take the following proposal to their membership:
"We owners, trainers, drivers and members propose to boycott all meetings to be held at Melton from October onwards until a satisfactory resolution is reached."
Unfortunately the biggest impact that this will have is on October's Derby and Oaks

Messenger

08-05-2023, 01:46 AM

There is plenty of money in Melton - one resident won $50m in Powerball last night

Messenger

08-05-2023, 09:10 PM

On TrotsVision, Rob Auber just had a 6 minute interview with CEO Matthew Isaacs

For an employee interviewing their employer Rob asked 3 pretty good questions

1. How did we get to this position?
2. How is it that other states who rely on the same funding streams are actually increasing prizemoney?
3. What is the latest on the Melton excess land which has always been mooted to be an asset for the industry?

The problem is that as well as the CEO expressed himself - I don't think I am any the wiser!

Messenger

08-07-2023, 12:18 AM

I think the upcoming consultation about these cuts between the participant organizations and HRV are also a chance for the participants organizations to see that there is a rethink by the CEO and Board that ensures they are part of all future planning. This needs to be one of the aims of their upcoming meeting as I think the new CEO needs to realize that the token consultation that he supposedly undertook on these cuts is not acceptable.

The primary aim has to be zero cuts to prizemoney - it is HRV admins turn to bear the pain this time. Participants have had to wear $4,500 races and no increases in other stake levels for a long time now. If HRV don't find an alternative way to find savings and instead go ahead with these prizemoney cuts there will be a loss of owners as it is owners that are being asked to bear the full brunt of their cost cutting measures. Loss of owners/horses will guarantee further financial trouble in the future so cutting their own spending will only be delayed until the 'next time' they will be creating. In other words, IMO this is a poorly thought out solution.

There is no way HRV can deny that 'if they had to find the savings from costs other than prizemoney or cease to exist,' they would find a way in a week

Messenger

08-07-2023, 08:56 PM

I could/should have put this in USA but seeing how clever administrators work/protect their industry seemed relevant here at this present time

In the Sunday July 30 edition of Harness Racing Update a statement appeared blaming the SOA of New York for its role in negotiating with NYRA and the NY OTB’s establishing various benchmark revenue protections for the NY harness racing industry. Those protections, were negotiated to insure that NY’s revenue stream remained in place, or were added, when NYRA and the NY OTBs wanted to take out of state thoroughbred signal at night. That would have hurt New York harness racing which traditionally operated in the sole New York market — nighttime. All New York state harness track operators and horsemen supported those protections.
the provision that does not authorize NYRA BETs to take other than NYS harness signals at night

https://harnessracingupdate.com/2023/08/06/more-thoughts-from-joe-faraldo-and-jeff-gural/

Imagine if only harness was allowed to be televised at night

Messenger

08-08-2023, 05:12 PM

VTDA President Anthony Butt has said

“There are a lot of a great minds out there who are passionate about the industry and we need to find a way to give that a voice and to use that knowledge to ensure we do find a way out of this,” he said.

https://harnesslink.com/australia/pain-ahead-for-victorian-industry-and-no-simple-answers/

I hope Anthony does not walk away from the meeting (that must be happening soon) without a plan as to how the best minds in the business, especially creative ones, are going to be used

ps I also hope that he and other association heads do not go into the meeting accepting that $3.9m has to be cut from prizemoney. To do so is to accept that the industry participants have zero input.

Messenger

08-11-2023, 01:01 AM

Gareth Hall did a good interview with Anthony Butt and CEO Matthew Isaacs on Thursday

https://open.spotify.com/episode/1QCc0Sj5bZZaMTEVKdsxl0?si=dMnvEgVCQ3yf7ms9v7jn9Q&fbclid=IwAR0BdJRZ9J0oZD60_WrFtyyfzRHgfbKTX83w4UCZn ajIqXdqKzVqyBAlGYo&nd=1

I nearly did not bother listening, thinking it would just be a repeat of Paul Campbell's interview but this is more informative. Anthony's input was interesting. Briefly, some points:

I was disappointed that Anthony just seemed to accept that we have to accept cuts but he did raise some interesting opinions. He clearly thinks that we should be racing more at Melton as it produces greater turnover.

Gareth was suggesting we should only have tracks where we have horse populations. The three of them appreciate our regional heritage but acknowledge that if you were setting up the industry now, you would not have 28 tracks and that the capital expenditure maintaining them is a big expense.

While saying that prizemoney cuts need to be across the board, I thought Anthony was somewhat dismissive of the value of 'average' horses (by this he is meaning 'below average') and their contribution.

Overall the glaring deficiency in the interview was around product or where new ideas are going to come from. Gareth is a big fan of a racing.com type TV product and of slot races.

The CEO said that they were expecting feedback from the participant bodies by Thursday. Maybe this was referring to today's meeting which has received a post from Shane Gloury (HRV) on the AHRI facebook page which I will comment on and quote in the next post

https://www.facebook.com/groups/236380660102847

Messenger

08-11-2023, 01:10 AM

From today's meeting

At the conclusion of the meeting and after considerable discussion from all parties, the Kindred Bodies advised HRV that:

1) We are supportive of new CEO Matt Isaacs and want to work with him to best position our sport in a highly competitive landscape and protect the future of our Industry;

2) Our Industry has every right to expect that HRV as the Controlling Body will have an efficient administration structure in place. We believe that there are opportunities to drive savings and efficiencies within the administration of HRV and expect the CEO and the Board to drive these opportunities.

3) We need HRV to have a far greater focus in the future on prioritising returns to Industry stakeholders and do not believe that this has been their primary focus in recent times. We expect that the CEO will drive this change so that Industry participants are at the forefront of scarce resourcing decisions.

Emmy Mazzetti - President Victorian Harness Racing Club
Paul Rowse - President Trots Clubs Victoria
Anthony Butt - President Victorian Trainers and Drivers Association
Anne-Maree Conroy - President Victorian Square Trotters Association
Nick Hooper - Harness Breeders Victoria

Why was it accepted that $3.9m had to be cut from prizemoney? I don't think Pt.3 should just be about the future, it should be about now!
There is no way that the leaders of the participant bodies could have gained a thorough understanding of the financial options in a mere three hours. They could have asked for HRV expenditure details and said that they would get back to the Chairman and CEO next week.
I think cutting prizemoney is a dangerous precedence that will likely have severe consequences for ownership and thereby all other sectors of the industry. The kindred bodies should have been properly consulted before the decisions were made not today!

Most importantly, who has been appointed to turn things around? Is it just the new CEO who misled the media that the kindred bodies had had input or are there other new minds (because the previous have failed). What guarantee of kindred body input was secured by the leaders of the participant bodies?

Messenger

08-11-2023, 01:58 AM

From the Victorian Harness Racing Club - I am 'snipping' this so it will be spread over a couple of posts
No thought of Participant Power in this first quote:

Messenger

08-11-2023, 02:02 AM

The breakdown

Messenger

08-11-2023, 02:05 AM

The feature races

Showgrounds

08-11-2023, 05:23 PM

Yap all they like, the HRV Board is appointed by the Victorian Government. It has failed in it's governance duties and should be replaced. It has allowed the its staff levels to grow and developed unprofitable initiatives, all while being propped up by Government COVID 19 grants in recent times.

Those grants have now dried up and a new CEO has realised the biggest issue is falling betting turnover. The solution? Cut stakes and penalize participants that put on the show that HRV is legislated to oversight? Has there been any mention of restructuring HRV, preferably with a butchers nice to remove the deadly layer of fat that is strangling the industry?

Messenger

08-23-2023, 11:10 PM

The proposed tiering structure is outlined below:

Country (NR ceilings)
Up to 49: $4,500
50-51: $6,000
52-55: $7,000
56-64: $8,000
65-74: $9,000
75+: $10,000
Maidens - Open: $7,000
Maidens - Age: $7,000
Age races: $7,000

Metropolitan (NR ceilings)
Age metropolitan: $17,500
No metropolitan wins (NMW): $15,000
Metropolitan NR79: $15,000
One metro win (1MW)/Two metro wins (2MW): $17,500
Metropolitan NR89: $17,500
Metropolitan NR105: $20,000
Metropolitan NR120: $24,000

https://www.thetrots.com.au/news/articles/hrv-prizemoney-pool-and-tiering-structure-announcement/

Now it is most important for the ideas people to make this short-term. Good luck kindred bodies in the vital role you will have to play. Last year we were bemoaning people having to race for $4,500 - now we are supposed to think the sport is lucky to have retained them. In these inflationary times, earning less has to be very painful for those whose existence is solely harness.

The whole article also outlines the reductions to some features

Messenger

08-26-2023, 11:00 PM

Once again, I was thinking how embarrassing it is that we have a Gp3 race tonight worth only $30k when I realized it is 99% likely it will be worth less next year :(

trish

08-26-2023, 11:21 PM

Once again, I was thinking how embarrassing it is that we have a Gp3 race tonight worth only $30k when I realized it is 99% likely it will be worth less next year :(

I was wondering how many in Vic are looking at land prices in & around Menangle

Messenger

08-26-2023, 11:32 PM

It would make a LOT (pun intended :D) of sense Trish. Some in the Melton region would probably get a good price for their properties as it is a growth corridor

trish

08-27-2023, 01:00 AM

It would make a LOT (pun intended :D) of sense Trish. Some in the Melton region would probably get a good price for their properties as it is a growth corridor

Just having a look at acres around Menangle & they start around 2 & 1/2 mil. Some under offer at 4 mil.
So they would have to get that sort of money to get a look in up here.

ryantics

09-02-2023, 12:25 AM

If those cuts are absolute then it makes harness racing in Victoria nonviable for every professional stable.
Only hobby trainers can work with that, it's just a disaster. Complete mismanagement.

Messenger

09-02-2023, 01:12 AM

Steve, the participant bodies accepted them and they will come in a month from today
They thought they had a win having no reduction to $4,500 races.
You cannot tell me that absolutely anybody could have found another $5m to trim from admin if the participant bodies had simply said NO
Without some really good ideas the downward spiral will continue for I see the prizemoney cuts costing them owners and so they may have to cut again sooner than they think

Messenger

09-08-2023, 09:26 PM

From HBV Harness Breeders Victoria

From the President's Desk...

The last few weeks have been tumultuous to say the least. HRV announced $10M of cost reductions with $3.9M of prizemoney cuts. Any prizemoney cuts are distressing for the industry. HBV was consulted by HRV and we made submissions relating to the protection of mares and juvenile racing. These submissions were listened to with reductions to cuts for some races for these cohorts which are important to our members.

HRV have made the majority of the cuts to feature races (50%) with 25% each to come from metro and then country stakes. Given country races make up the vast majority of the racing, the cuts per race to rank and file racing has been minimised.

I attended a meeting with the Minister for Racing along with the other kindred bodies in mid-August. The kindred bodies voiced their concerns with where the industry was heading. The Minister stated that he wanted to meet regularly with the kindred bodies.

The last sentence is very important IMO. Let's hope that not only the Minister but also HRV's CEO and Chairman meet them monthly

Messenger

09-10-2023, 12:21 PM

It seems weird that with the prizemoney cuts starting in 3 weeks, a meeting like Kilmore on a Sunday night has 3 x $10k, 4 x $8k and 2 x $4.5k
I assume the club or sponsors are taking their pool up to $71k for the meet.

https://www.harness.org.au/racing/fields/race-fields/?mc=KI100923

Messenger

09-27-2023, 11:56 AM

Reductions to prizemoney on Oct 1 may look like a real contrast in comparison to the way that Vic seems to be throwing money around at present.
Take the little meeting at Geelong tonight
Taking $7k to be the usual stake, we see 2 of the 9 races for that amount and only one $4,500 race, then we see 4 races for $8k and 2 races for $10k (one of these is a Platinum Maiden trot so it may have been part of the series)

https://www.harness.org.au/racing/fields/race-fields/?mc=GE270923

Messenger

10-05-2023, 12:45 AM

Not many reduced prizemoney races seen so far - the odd $6k races here and there, a couple of $17.5k races at Melton this Saturday

Messenger

10-26-2023, 01:51 AM

I notice a couple of races at Melton on Saturday night are for $15,000
If the following is still the ratings system, I reckon they would rather be racing for $14,999

https://www.harness.org.au/racing/fields/race-fields/?mc=MX281023

Messenger

11-12-2023, 09:22 AM

Yes, we are really broke when we have 9/9 races at Shep on a Sunday night - all for $4,500
Not even one $7,000 race to break up the program

https://www.harness.org.au/racing/fields/race-fields/?mc=SP121123

Messenger

11-12-2023, 05:24 PM

Toohard has noticed that there are FOUR races for horses with an NR up to 45.
Very interesting to see that they were filled in descending order
All the nominations suggests there is a need for these races.

aussiebreno

11-12-2023, 08:28 PM

Horses start at NR50. 5 go down a point but only one or two go up in points. Creates a glut at NR45. Bottom up meetings will get more noms souther NSW too.

Messenger

11-15-2023, 11:47 AM

Why would R1 at Geelong be a $10k race when we are tightening our belts?!

Messenger

11-16-2023, 07:43 PM

We cannot be broke. We have a metro meet at Bendigo on Friday followed by a metro meet at Melton on Saturday

Messenger

11-17-2023, 10:47 PM

Maybe the fact that there is no full TrotsVision of tonight's Bendigo meeting is a budgeting decision.
I however don't think we can afford to cut/fail to promote the code in this area
(No doubt JB would think that applies to his position too but there are others who are/can fulfill his role)

Messenger

11-29-2023, 04:13 PM

aussiebreno

11-29-2023, 04:24 PM

We cannot be broke. Echuca called off today. Town does not have 24hr BOM observations but they only had ½" yesterday (to 9am today that is) and nearest 24hr BOM is Kyabram (38km away) has had SFA today

Kev - Echuca posted a picture of their track on FB today and it is understandable why they aren't racing.

I live about 8km as crow flies from Wagga track. My backyard was nearly resembling a lake mid arvo after one big downfall yesty and the track hadn't seen a drop to that stage.

Messenger

11-29-2023, 06:17 PM

Thanks Brendan, I just checked it out - they must get very different weather to Kyabram

Messenger

02-23-2024, 10:45 PM

If HRV are cutting costs, why are they doubling up on Tips programs

PLUS we have the Burning Questions program

Messenger

05-08-2024, 09:27 PM

Like Victoria, HRV are really, really broke
No mention of closing tracks yet (we have a thread on the rumour that we are going back to 11 tracks)
But admin is cutting another $6m on top of last yrs $6m
TrotsVision in the gun - it is too good compared to everybody else, including the gallops, so how could WE afford it! (unless we were making gains from it)

https://www.thetrots.com.au/news/articles/hrv-reveals-savings-measures-as-part-of-sustainability-transition/?fbclid=IwZXh0bgNhZW0CMTEAAR1YA7HviEWSK-t3xybfOZi6aoR4nl5D3UInERy-dkuJ2jL-2tq2N6gTpHA_aem_ARsEmTgET4IjgMYDC2KhnitMWy60kPc2ov fzJj8Iy_mktkCNuQFBrfxqCdxtlY29s3fiBA41mG0rQ7oAhJdP 1l2D

Proposed cost-cutting measures include:

A reduction in staff and associated structural efficiencies
Costs associated with marketing and media activities, including on TrotsVision, where coverage of country cups and Saturday night broadcasts will be reduced
The Gordon Rothacker Medal industry awards night, which will be a scaled back celebration

Messenger

05-09-2024, 02:34 PM

HOLY COW BATMAN it is much worse than I realized
I have just been informed that recent legislation brought in, means that if statutory authorities like HRV sell an asset like the Melton land - the government gets the money!
:(:(:(

trish

05-09-2024, 09:52 PM

Seriously. I don't think Robin can help there. But I think batgirl could sort it out.

Messenger

05-09-2024, 11:46 PM

Imagine if HRNSW got nothing from the HP sale!

trish

05-11-2024, 01:57 PM

Imagine if HRNSW got nothing from the HP sale!

They would be in the same boat I reckon.

Mark Croatto

05-12-2024, 10:37 PM

Imagine if HRNSW got nothing from the HP sale!

Hi Kevin, HRNSW got nothing from the sale of Harold Park. Harold Park was not owned by our governing body Harness Racing NSW, rather it was owned by the NSW Harness Racing Club, who also owned the Menangle track.

The NSW Harness Racing Club utilised some of the proceeds from the sale to refurbish Menangle into what it is today, and while they have supplemented prizemoney for some State races like the Waratah Series, they have retained the proceeds of the sale and invested it in various initiatives from which they benefit.

The prizemoney levels in NSW are the result of revenues from the TAB, corporate bookmakers, point of consumption tax, and TAX parity which brought us in line with the same taxation levels levied by the Victorian government on your betting. I can't remember the exact figure, but we were taxed nearly twice as much as you were which resulted in a smaller return to our industry.

NSW is not where it is today because of the sale of Harold Park.

Messenger

05-12-2024, 11:12 PM

I should have been more specific

I have to disagree that harness racing is NSW is not in a strong position because of the sale of HP - it is a paying investment and money in the bank

Mark Croatto

05-13-2024, 12:11 AM

I should have been more specific

I have to disagree that harness racing is NSW is not in a strong position because of the sale of HP - it is a paying investment and money in the bank

Yes, I would agree that NSW is in a stronger position as a result of the sale, but as I said, Harness Racing NSW did not own Harold Park.

NSW's stronger financial position was aided significantly by the repayment of monies paid to the NSW Harness Racing Club from the state industry's Racecourse Development Fund. The NSW Harness Racing Club was not compelled to pay back those monies but chose to do so in the interest to better the code in this State. The feature races conducted at Menangle would not be for the values they are today if it were not for the sale of Harold Park.

That said, this State's stronger financial position, its higher across the board prizemoney levels, has come about because in addition to the Harold Park sale, we have had strong revenues from the TAB, corporate bookmakers, point of consumption tax, and TAX parity as mentioned previously. The sale of Harold Park is one of a number of improved elements that have benefitted NSW.

Messenger

05-13-2024, 01:31 AM

trish

05-16-2024, 01:28 PM

Yes, I would agree that NSW is in a stronger position as a result of the sale, but as I said, Harness Racing NSW did not own Harold Park.

NSW's stronger financial position was aided significantly by the repayment of monies paid to the NSW Harness Racing Club from the state industry's Racecourse Development Fund. The NSW Harness Racing Club was not compelled to pay back those monies but chose to do so in the interest to better the code in this State. The feature races conducted at Menangle would not be for the values they are today if it were not for the sale of Harold Park.

That said, this State's stronger financial position, its higher across the board prizemoney levels, has come about because in addition to the Harold Park sale, we have had strong revenues from the TAB, corporate bookmakers, point of consumption tax, and TAX parity as mentioned previously. The sale of Harold Park is one of a number of improved elements that have benefitted NSW.

Hi Mark . When we were participants , the Authority promised huge increases in prize money to get the sale of Harold Park through without too many objections . That's why I and everyone else , that I know, connected it's sale with prize money . If you are right , then what happens to all that doe if harness racing goes bust . What you're saying is that the NSW Harness Racing Club is another entity altogether and can survive and thrive without harness racing . I remember that a story went around that the NSWHRC had bought a property near the Sydney Harbor Bridge that cost , from memory , $50 odd million , but that could be just a story , but it does make you think .

Messenger

08-01-2024, 10:01 AM

As stated a while back in a different thread, Vic now rank 4th in the premier harness states ranking

How far can we fall?! I don't know if we can blame the current CEO although cutting seems to be his major (only?) strength at present. As for Chairmen and Executive from the last couple of decades - they should be Warned Off for life

Based on futurities payments, the 2024 Breeders Crown finals minimum stakes will be:

Two-year-old pacing finals worth $80,000+
Two-year-old trotting finals worth $40,000+
Three-year-old pacing finals worth $60,000+
Three-year-old trotting finals worth $25,000+

https://www.thetrots.com.au/news/articles/futurity-payment-shortfall-requires-2024-breeders-crown-reform/

In 2023
2yo pacing finals were worth $250,000
3yo pacing finals were worth $150,000

I noticed that yesterdays Trotters Oaks at Maryborough was only worth $7k total compared to $12k last year when the winner got $7k

trish

08-01-2024, 12:21 PM

Good Lord.
The decline in prizemoney in Vic is not very good for all the participants is it?

Messenger

08-01-2024, 01:24 PM

It will only take a big stable or two to move interstate and we will be deeper trouble.
Mind you, the dominance of one stable in the juveniles would no doubt have a bit to do with the decline in futurities payments

trish

08-01-2024, 05:43 PM

Ok.
I looked at the price of land near Menangle.
Only the very , very , rich could move!!

But in saying that , what choice could be left for them , do you think??

Messenger

08-01-2024, 11:44 PM

An hour from Menangle would suit many

trish

08-01-2024, 11:59 PM

An hour out, you would have to be very very wealthy Kev. Prices are crazy. A friend lives an hour out & her place is worth millions. (5 acres).

trish

08-03-2024, 10:44 PM

If I was an owner with horses in Victoria , I would be looking at relocating any horses I owned to race them in NSW where the prizemoney was better. As I said before , the feed costs the same. I am not sure about the training fees these days though.

Messenger

08-11-2024, 11:55 PM

Is a trend developing?
5 of Saturday's 8 Menangle winners are Vic/exVic horses

https://www.harness.org.au/racing/fields/race-fields/?mc=PC100824

trish

08-12-2024, 12:15 AM

Is a trend developing?
5 of Saturday's 8 Menangle winners are Vic/exVic horses

https://www.harness.org.au/racing/fields/race-fields/?mc=PC100824

Would be a smart move because of the money involved Kev.

Messenger

08-15-2024, 10:00 PM

Although there are only 7 of them, it is a pretty good line-up - why should they be racing for a mere $10k at a Metro meeting?

https://www.harness.org.au/racing/fields/race-fields/?mc=MX170824#MXM17082410

trish

08-15-2024, 10:56 PM

Not great money Kev.
Racing for near that at Tuesday Menangle day meeting.

Messenger

08-17-2024, 10:18 AM

This is the second half of all Victoria's important kindred bodies (Trainers, Breeders, etc) open letter on the state of HRV
It addresses whether we no longer have the Melton land asset

In the first half they suggest prizemoney is going to further reduce
from the low $4,500 - $15,000 (Metro!) to $3,000 - $10,000

Messenger

08-17-2024, 01:02 PM

Here is the whole thing

Joint Statement by the Presidents of the Victorian Harness Racing Kindred Bodies

We, the Presidents of the Victorian Harness Racing Kindred Bodies, are issuing this urgent and united statement to express our profound concern over the future of Harness Racing in Victoria.

A meeting we requested last week with Harness Racing Victoria (HRV) has confirmed a series of devastating developments that threaten the very existence of our beloved Industry:

• HRV has incurred a catastrophic $24 million loss for the 2024 financial year, following heavy losses in 2022 and 2023.
• There will be additional cuts to stakemoney of between $10 million (22%) and $18 million (40%) over the next three years that will devastate participants and the sport.
• HRV’s financial mismanagement has rendered it virtually insolvent and unable to meet its debt obligations.
• It’s loan borrowings from government using our vacant land asset at Melton as collateral has all but forfeited a vital industry asset valued at $100M.
• HRV’s contract with SKY Channel is nearing its end, with a very real risk of Victorian harness racing being relegated to SKY2.

Since 2018, HRV has engaged in reckless spending, dramatically inflating administrative staff and employment costs. Despite this, the industry has seen little benefit, with HRV funneling vast sums into marketing, integrity, and costly consultancies. Instead, stakemoney was cut 12 months ago and low-stakes races have proliferated.
Over the past five years, HRV's employment costs have ballooned by an astonishing 71%.

These disastrous strategies have failed, and now it is the hardworking participants in our industry who will bear the brunt of further drastic cuts to stakemoney and the provision of services. An anticipated reduction in stakes of about 33% over the next three years could mean:
• Current $4,500 races in the country reducing to $3,000.
• Current $6,000 races in the country reducing to $4,000.
• Current $15,000 races at Melton reducing to $10,000.

This represents a monumental failure of governance at HRV, compounded by its secrecy in keeping industry stakeholders in the dark. HRV has put the future prospects of harness racing in Victoria plus the livelihoods of around 5,000 industry workers in grave jeopardy. In so doing, HRV has also undermined the $670 million economic contribution provided by our industry to the State.

We find it inconceivable that the Board of Harness Racing Victoria could have been so irresponsible and failed so profoundly in their governance responsibilities that they may have effectively forfeited the industry’s $100 million vacant land asset at Melton.
The 93-hectare land parcel at Melton, purchased by the industry for $3 million two decades ago, was intended to be a future fund for harness racing; a valuable asset that would generate ongoing returns, much like the sale of Harold Park in Sydney. Experts now value the Melton land at over $100 million. Yet, due to HRV's poor policy decisions and escalating debt, it is now doubtful that our industry will be able to capitalize on that shrewd investment in our future.

In 2020, HRV's loan balance with the Government stood at $13.7 million. By 2023, this amount had surged to $42.3 million and with a projected $24 million loss in 2024, the loan balance is now expected to be in the region of $66 million.
We believe it is vital that Harness Racing retains equity in this land, or at least a portion of it, to assist the industry’s recovery through future revenue streams from its ongoing development and appreciation.
This abject failure in governance and financial bungling by the Board and senior management has worsened the situation year on year. And HRV’s glaring lack of transparency and reluctance to communicate with industry participants must be strongly condemned. At no time has HRV advised the Industry that the Melton land asset was under threat or could be lost. This is a betrayal of every individual in this State who depends on the harness racing industry for a livelihood.

We have no confidence in the Board of Harness Racing Victoria. It is irrational to expect the same individuals who led us into this crisis can now navigate us out of it.
We believe that Harness Racing in Victoria can recover from the confronting situation it currently faces. However, this requires urgent intervention from the Minister, including the appointment of a new, capable, and competent Board and ensuring Harness Racing retains an equity interest in the Melton land for a critical future revenue stream for the Industry.

Emmy Mazzetti - President Victorian Harness Racing Club
Paul Rowse - President Trots Clubs Victoria
Anthony Butt - President Victorian Harness Racing Trainers and Drivers Association
Anne Maree Conroy - President Victorian Square Trotters Association
John Coffey - President Harness Breeders Victoria

Messenger

08-17-2024, 01:07 PM

I have read a suggestion (which we actually discussed on here many years ago) to sell not only the excess land but also the Track complex itself and rotate the Metro races around our leading country tracks
It has merit - provided we actually get the money (after we pay our debts) for there was a suggestion that with us being a Statutory Body the money would all go to the government

Messenger

08-17-2024, 02:08 PM

This week, the CEO needs to instill some confidence that there will be no more prizemoney cuts and that he/the Board have a feasible recovery plan
If he does not convince the masses this week then there will be negligible breeding in Vic this season and we will be in a complete downward spiral from which there will be no recovery

trish

08-17-2024, 04:05 PM

Kev.
HRV need to work something out yesterday.
There will be no HRV if this continues.
It's a sad time for all involved in harness racing down there

There is BIG merit in selling Melton & racing each week at the other venues. Maybe its the only way to save the industry & HRV.

Would selling up get them back to square or would they have money in the bank do you think?

Messenger

08-17-2024, 04:20 PM

I am trying to find that out. We probably have to sell regardless if it will stop the decline in prizemoney - nobody is going to stay for less

trish

08-17-2024, 04:44 PM

No, they are not. A lot CAN not.
Maybe Kevin Seymour can help out like he did with SA but maybe not.

Messenger

08-17-2024, 06:59 PM

This is the CEO's rubbish reply - "you weren't supposed to tell anyone"

https://www.thetrots.com.au/news/articles/hrv-ceo-matt-isaacs-response-to-kindred-bodies-joint-statement/

trish

08-17-2024, 07:52 PM

Really.
So no one is going to find out.
So I suppose no one will ever question the drop in prizemoney?

Maybe they could recoup some of the money if they start charging $48 for a hamburger. At least its not $50.

Messenger

08-17-2024, 09:46 PM

They cannot wait another 3mths to meet with the industry - this has to be resolved next week. People are making decisions as to whether to breed or not

Messenger

08-18-2024, 02:13 PM

It is now being reported by The Age - typical of them - give us NO coverage except for scandals

‘Monumental failure’: How a racing code lost its $100m nest egg

Harness Racing Victoria has been accused of a “monumental failure of governance” that led to the sport’s governing body losing control of its $100 million land asset at Melton.

Angry stakeholders claim HRV has borrowed so much money to keep the sport afloat over the past five years that it is now expected to hand over its 93-hectare land parcel at Melton to the state government.

Two sources familiar with negotiations, but unable to speak publicly, said the government had written to the HRV board telling it to sign over the Western Highway property, which is the site of Melton Entertainment Park.

HRV was accused of “financial mismanagement” in an explosive statement released on Friday by the presidents of a powerful group of harness racing bodies.

“HRV’s financial mismanagement has rendered it virtually insolvent and unable to meet its debt obligations,” said a statement from the Victorian Harness Racing Kindred Bodies. The group represents the Trots Clubs of Victoria, the Victorian Trainers and Drivers Association, the Victorian Harness Racing Club, the Victorian Square Trotters Association, Harness Breeders Victoria and the Caduceus Club Victoria.

“Its loan borrowings from the government using our vacant land asset at Melton as collateral has all but forfeited a vital industry asset valued at $100 million.”

In 2019, a change in state government policy meant that government entities such as HRV could not sell land without returning the proceeds to the government’s consolidated revenue.

From then, HRV borrowed heavily against the land to prop up prize money and cover operating costs, owing the state government more than $40 million.

“At no time has HRV advised the industry that the Melton land asset was under threat or could be lost,” the Kindred Bodies statement says.

“The 93-hectare land parcel at Melton, purchased by the industry for $3 million two decades ago, was intended to be a future fund for harness racing; a valuable asset that would generate ongoing returns, much like the sale of Harold Park in Sydney.

“Yet, due to HRV’s poor policy decisions and escalating debt, it is now doubtful that our industry will be able to capitalise on that shrewd investment in our future.”

The HRV board – led by chairman Adam Kilgour – and executive – led by CEO Matt Isaacs – is answerable to Racing Minister Anthony Carbines.

The Kindred Bodies’ statement says the sport is projected to lose $24 million in the 2024 financial year, and has lost as much as $50 million in the past five years.

They fear breeders, owners and trainers will flee Victoria because they are expecting “cuts to stake money of between $10 million (22 per cent) and $18 million (40 per cent) over the next three years that will devastate participants and the sport”.

Carbines told this masthead that the government was “working closely with Harness Racing Victoria to improve their financial performance”.

“We have delivered significant support to ensure HRV remains financially viable because the long-term financial sustainability of the sport is important to the economy and to the overall health of the Victorian racing industry,” he said.

The government says the harness racing industry in Victoria generates more than $613 million annually for the state economy and helps sustain more than 4400 full-time equivalent jobs – most of which are in regional Victoria.

Isaacs, the HRV chief executive for the past 18 months, said it was “reckless” for the Kindred Bodies to “issue a statement representing inaccuracies and undermining industry confidence”.

“Harness Racing Victoria states in the strongest terms that what has been expressed only creates fear and uncertainty among the stakeholders the bodies are meant to represent, distracting from the collective efforts to resolve the financial complexity that we all face,” Isaacs said in a statement.

“HRV has made it clear in many previous media releases and industry conversations that the changing wagering environment has created numerous financial challenges, which are being felt by all racing authorities.

“HRV, with the support of the Victorian government, is committed to resolving the challenges with and on behalf of the industry for the future viability of harness racing in Victoria.”

The Kindred Bodies said they had no confidence in the current board to continue leading the industry.

trish

08-18-2024, 07:28 PM

This is a win win for the government, HRV debt will allow them to take that land & create housing that it has promised the public. This is a bit like Rosehill racecourse.

trish

08-18-2024, 07:37 PM

Do you know Kev , if HRV pay all wages at all tracks?

If PP is correct , how can HRV spend near 3 times as much on its wage bill as HRNSW.
How can that possibly be.

Messenger

08-19-2024, 10:43 AM

I don't know Trish

Victorian Harness Racing Industry Rally – Sunday, 25 August – Bendigo 12.30pm
The Victorian Harness Racing Industry is facing an unprecedented crisis, and the time has come for us to unite and be heard. The Kindred Bodies are calling on all Harness Racing Participants and Enthusiasts to attend a Harness Racing Industry Rally next Sunday, 25 August, at 12:30 pm at Lords Raceway in Bendigo.
If you care about the future of Harness Racing in Victoria, it is crucial that you join us at this rally. This is our opportunity right now to make our voices heard and fight for a brighter future for our great sport in Victoria.
Our industry has never been in a more precarious position. We need every person involved in Harness Racing to come together at this pivotal moment. Don't leave it to someone else. Stand up, be counted, and help us fight for a brighter future at Bendigo next Sunday, 25 August.
Together we can make a difference!
Emmy Mazzetti – President Victorian Harness Racing Club
Paul Rowse – President Trots Clubs Victoria
Anthony Butt – President Victorian Harness Racing Trainers and Drivers Association
Anne Maree Conroy – President Victorian Square Trotters Association
John Coffey – President Harness Breeders Victoria

trish

08-19-2024, 06:15 PM

Good Luck Victoria.

Messenger

08-19-2024, 09:35 PM

The Minister and CEO need to meet the Kindred reps before Sunday. Forget about the Chairman - the whole board has to go. Do we need a board?

Messenger

08-19-2024, 10:12 PM

Ok.
I looked at the price of land near Menangle.
Only the very , very , rich could move!!

But in saying that , what choice could be left for them , do you think??

How much would this trots place be going for? (Darren Hancock's?)

https://www.realestate.com.au/property-acreage+semi-rural-nsw-pheasants+nest-144339300

trish

08-20-2024, 10:34 PM

Well over 2 million Kev.
Not sure who's place it is but they may be getting out, who ever it is.

Messenger

08-20-2024, 11:00 PM

It looks very nice and as it has not changed hands in 35yrs and Darren Hancock definitely had this farm (articles about interstate trainers staying with him) - I say it must still be his
There must be some Vics who could afford this - it could be a VERY smart move

Messenger

08-20-2024, 11:08 PM

Do you know Kev , if HRV pay all wages at all tracks?

If PP is correct , how can HRV spend near 3 times as much on its wage bill as HRNSW.
How can that possibly be.

Apparently we are not comparing apples with apples as the NSW wage bill does NOT include Menangle (paid by Club Menangle)

Messenger

08-21-2024, 06:59 PM

This was Shane Gloury from the Victorian Harness Racing Club on Giddy Up on Monday

https://open.spotify.com/episode/0v2hkcKkDdQIpHgs3SBnMp

This was HRV CEO Matthew Isaacs and HRV Chairman Adam Kilgour on Giddy Up on Tuesday

https://open.spotify.com/episode/2tlcAuI0LBrDw3uxiZCT89

Being the deaf coot that I am, although I heard everything in the Shane Gloury interview and also had no trouble with Gareth's voice in the CEO/Chairman interview, I did not catch everything that the Chair and CEO said.
I don't think that they told us very much - I would paraphrase the info that they did pass on as "we are facing massive cuts and DO NOT have any claim to the additional Melton land". They might think that harsh but I am trying to temper what I believe to be the case - "we are stuffed"

We needed to be jumping up and down in 2019 when the government legislated that the sale of assets by statutory bodies sees the proceeds go to the government

The Board have a massive amount to answer for and while the Chairman is new - he has been on the board since 2018
The kindred bodies are not without fault either, they have allowed themselves to be uninformed/hoodwinked for years. Their trust in past HRV administration has proved naive

There is nothing we can sell to get us out of this hole as the money would just go to the government (whom we all know is in just as bad a position as HRV)

It is a pity that Gina Rinehart does not love harness racing for a savior is Vics only hope

Messenger

08-22-2024, 11:47 AM

Michael Stanley appears to be the first to be making a move - well his property is on the market

Borrowing against the Melton land may not have been entirely stupid as we sort of got something for it but the big problem is that what we spent it on should not have been prizemoney and it definitely was not 'future money making infrastructure'

Messenger

08-22-2024, 09:40 PM

Paul Courts has an EXCELLENT Q&A with CEO Matt Isaacs in National Trot Guide

This is a must read

https://nationaltrotguide.com.au/qa-with-hrv-ceo/

This is the standout for me (along with the already discussed 2019 legislation which cut the legs out from under us)

HRV invested significantly to grow wagering, including through media and marketing channels. The reality is the amount of revenue generated from that hasn’t produced a return on investment.

Ultimately, harness racing as a code has to evolve to be able to stand on its feet. That’s the challenge for the industry, including HRV.

There will have to be massive cuts/closures/redundancies - there is no avoiding it
Victorian harness racing as we knew it IS OVER

Messenger

08-22-2024, 09:50 PM

There is also this Michael Howard (HRV) article (interview with the CEO) out, the format of which some may prefer

https://www.thetrots.com.au/news/articles/harness-racing-in-victorias-challenges-and-pathway-to-sustainability/

trish

08-22-2024, 11:31 PM

[QUOTE=Messenger;77288]Michael Stanley appears to be the first to be making a move - well his property is on the market

OK , let's hope for his sake , it can be developed or used for thoroughbreds.

trish

08-22-2024, 11:39 PM

If we were still in harness racing & this happened in NSW , we would be rather stressed or looking to get out altogether.

Messenger

08-23-2024, 06:06 PM

The latest Pacesetter podcast has been about the crisis we find ourselves in, they would probably prefer another word

https://pacesetters.au/podcast/episode-14-tongue-tie-off/

It goes for a long time and rather than focus on specifics they toss around what needs to happen somewhat philosophically but I listened (and read captions :)) for the whole thing

Like myself, they are not really critical of the CEO, they understand why people are angry but are unsure how that can help if that is the underlying emotion at the rally on Sunday

They talk about the participants needing to hear a message of hope from HRV but the brutality of this situation would seem to be that such a message, in the short term, cannot be much better than "We hope we can survive"

They're fairly correct in saying that we have to look to the future rather than back although I would say that we need to remember where we went wrong in order to not make the same mistakes

I have said the kindred bodies are not without fault, after listening to Greg Sugars input and being reminded that most participants are 'time poor', it really has been the executive of these bodies that needed to be better informed/demanding to be better informed and therefore more active in steering the industry. I can think of individuals whom I will not name but I will say that they as well as HRV are major contributors to us being in this position.

The image of the sport was briefly included in the discussion and while such historic attitudes to the trots is hard to turn around, there have been some major stables that have had questionable roles in the public's poor opinion of us and of course the 3 codes in Vic are so separate as opposed to being an alliance and I still believe there are plenty in the gallops media that are happy to see our demise just like their predecessors were.

Messenger

08-23-2024, 07:19 PM

The Age is reporting on us again this afternoon. They are vultures but the Kindred Bodies would have been seeking promotion of the Sunday rally. Once again behind a paywall so I will copy and paste

I have included the start of the 'racing' story to show that we are not the only ones struggling

Victoria’s $610 million-a-year harness racing industry is facing such an “unprecedented crisis” that it is in danger of becoming a rural amateur sport, a group of key stakeholders fear.

The Victorian Harness Racing Kindred Bodies – which represents clubs, trainers and drivers in the state – is so concerned about the sport’s “precarious position” they have organised a save-our-sport rally at Lords Raceway in Bendigo on Sunday.

“We can’t carry on the way we have been going, losing millions of dollars a year,” leading trainer Anthony Butt said.

“Since 2019, the costs have escalated and the income has stayed the same, so there is a bigger and bigger gap each year between what we are earning and what we are spending.

“In any walk of life, sooner or later, that is going to come back and bite you. If we don’t do something now, it is going to be too late.”

The group says a projected $24 million loss for the 2024 financial year, a huge dip in wagering and expected cuts of more than $10 million in prize money could lead to an exodus of breeders, owners and professional trainers.

Since this masthead reported allegations on Sunday that Harness Racing Victoria had lost control of its $100 million Melton land asset, uncertainty over the sport’s professional future has spread.

It comes as HRV chairman Adam Kilgour conceded this week the board would soon sign over its 95-hectare Melton land parcel to the state government.

The board used the Melton land as collateral to borrow more than $40 million from the government in recent years to keep harness racing afloat.

In exchange for the land, the government also agreed to wipe a $41.9 million debt that HRV has carried since buying and building Melton Entertainment Park in 2009. The sport will keep the racecourse facility.

Butt said the fear now was that harness racing in Victoria, which used to be the leading precinct in Australasia, would lose its top-tier professionals, its best horses and its betting appeal, and be reduced to a rural sport for hobby trainers.

“Punters love the name drivers, the name trainers, the big guns,” Butt said.

“They like to back Chris Alford, Greg Sugars, Kate Gath and Kerryn Manning. It’s like we go to a pub on the weekend and we back James McDonald and Jamie Kah [in the gallops]. It’s only natural that the well-known names are going to generate more income.”

Butt, who is president of the Victorian Trainers & Drivers Association, said the government needed to back the sport. He said it made “a hell of a lot of money” from harness racing from taxes, such as the point of consumption wagering tax.

“The industry supports not only the participants but we support farmers who grow the feed, builders, fencers, blacksmiths, vets, horse transporters,” he said.

“We’ve got to buy cars and trucks. We’ve got to put diesel in them because we travel thousands of kilometres a year. There’s a lot of people who make money out of the industry, either directly or indirectly.”

In response to the criticism, Harness Racing Victoria chief executive Matt Isaacs released details of the industry’s revenue and cost challenges on Thursday.

“We simply spend more money to put on the show than we earn, and this has been the case since 2017,” Isaacs said.

“The surplus Melton land was set aside to help the sport in a rainy day, and it’s raining, with harness racing battling for relevancy in a crowded and declining wagering market, and without the crutch of grants from previous years.”

Isaacs said with recent government support that harness racing in Victoria was debt-free and had solvency funding for the next two financial years.

“The sport now needs to transition to standing on its own two feet,” he said.

Isaacs said the sport was cutting $12 million in operational costs, had cut $4.5 million in prize money and was changing the racing calendar – more regular races at bigger regional centres – to encourage more wagering.

Racing Minister Anthony Carbines declined to comment on what the government had planned for the Melton land. He will not be attending Sunday’s rally, which starts at 12.30pm.

RACING VICTORIA LOSS
Racing Victoria has announced it is expecting a $12 million operating loss for the 2024 financial year after a drop of more than 10 per cent in wagering across the past 12 months.

Messenger

08-24-2024, 10:15 AM

I have just started listening to this interview by Michael Felgate with the HRV Chairman and the CEO
Just listen to the start
Has there been a less impressive answer to an opening question than Adam Kilgour's answer "You Know"

https://omny.fm/shows/racin-pulse-with-michael-felgate/hrv-ceo-matt-isaacs-and-chair-adam-kilgour-join-rs

Messenger

08-24-2024, 10:44 AM

You could summarize the interview as 'we should have made bigger cuts much faster'.
The fact is that such cuts have / are being eased in - HRV/the Govt do not want to put hundreds of people out of work overnight.
Sadly however, I see it as nothing more than giving the hundreds that will be smart enough to leave - a bit of time to transition/go elsewhere
The only way this cannot be true is for a Messiah or some brilliant ideas

trish

08-24-2024, 09:41 PM

I bet a few are wishing they did a David Akein.
Smart move David.

trish

08-24-2024, 11:03 PM

Some light on fields at Menangle tonight maybe some Victorians will move asap.

Messenger

08-26-2024, 12:35 PM

Did anybody make it to the rally?

Yabbie

08-26-2024, 12:53 PM

Did anybody make it to the rally?

About 400 people! With apologies from over 200.
Refer to the article on Harnesslink.
I will copy the post from Harness Racing in Australia when I can get to my computer

Messenger

08-26-2024, 02:54 PM

Thanks Carol (oops I forgot to look on Harnesslink)

https://harnesslink.com/australia/victorian-rally-puts-racing-minister-front-and-centre-2/

Four resolutions were carried unanimously calling for Minister Carbines to understand:

Leadership and Governance Reform is needed at HRV to lead and oversee the Harness Racing Industry in Victoria.
A commitment is needed to fast-track HRV to a low-cost administration model
It is critical to ensure that HRV retains some form of equity share in the Melton Land to create a future fund for the Industry
Withdraw the request for HRV to sign over the Melton Land to enable critical consultation to occur with the Harness Racing Industry

Yabbie

08-26-2024, 04:01 PM

This is the post on various forums regarding yesterday's rally at Bendigo:

follow up from today’s rally. Please read below. We need EVERYONE in our industry to do this asap. Please.

We are asking all participants and stakeholders that have concerns about the current state of Harness Racing in Victoria to email their local MP, Racing Minister Anthony Carbines, Member for Melton Steve McGhie and Opposition Spokesperson for Racing Tim Bull. Its essential that participants contact these MP's

Email template is attached with suggested wording of the email.

Even better if participants can contact their MP and arrange a time to meet with them to discuss their concerns in person.

Anyone who wants a copy of the presentation delivered today can email the VHRC requesting this. Email address is vhrsc@vhrsc.com.au
—————————————————-
Urgent Action Needed to Address the Crisis in the Victorian Harness Racing Industry

Dear [Recipient's Name],

I am writing to you as a concerned participant in the Victorian Harness Racing Industry to bring to your attention the reckless financial management at Harness Racing Victoria (HRV), which now poses a significant threat to the future of our industry.

In recent years, there has been a dramatic increase in employment and administration costs at HRV, with the number of full-time employees at 30 June 2023 more than double that of Harness Racing NSW. Following substantial financial losses in 2022 and 2023, HRV has confirmed that it will record a devastating $24 million loss in the 2024 financial year. Furthermore, it has been revealed that HRV, without consulting the industry, has cashed in Harness Racing’s $100 million future fund—a 94-hectare land parcel at Melton—in an attempt to resolve its financial crisis.

This situation at HRV requires urgent attention. Without immediate intervention, there will be devastating prizemoney cuts ranging from $10 million (22%) to $18 million (40%) over the next three years. Such cuts will jeopardize the livelihoods of 5,000 industry workers and threaten the $670 million in economic contribution that our industry provides to the State of Victoria.

We urge the Racing Minister in Victoria, Anthony Carbines, to take immediate action to support the Harness Racing Industry by introducing the following measures:

1. Leadership and Governance Reform: There is a clear need for new leadership at HRV to lead and oversee the recovery process and restore confidence in the governance of the industry.
2. Adopt a Low-Cost Administration Model: A commitment to fast-tracking HRV to a low-cost administration model in Victoria is essential to reduce the magnitude of proposed prizemoney cuts.
3. Retain an Equity Share in the Melton Land: It is critical for Harness Racing to maintain an equity share in the Melton land to ensure a future fund for the sustainability of the Industry.
4. Withdraw the Request for HRV to sign over ownership of the Melton Land: Consultation with the Harness Racing Industry has not taken place on the Melton Land deal and its critical that the Industry be consulted prior to losing their future fund.

We trust that you will support our cause and advocate for the necessary changes that Harness Racing in Victoria urgently requires. Your support is crucial to ensuring the long-term viability of our industry and the livelihoods of those who depend on it.

Thank you for your attention to this matter.
Yours sincerely,
[Your Name]

Also the list of MP's addresses for your reference:
https://scontent-syd2-1.xx.fbcdn.net/v/t39.30808-6/456847199_10230447492918342_8856756126314452137_n. jpg?_nc_cat=111&ccb=1-7&_nc_sid=aa7b47&_nc_ohc=f9LsHO0kFWUQ7kNvgEvX4Ov&_nc_ht=scontent-syd2-1.xx&oh=00_AYDmV8d6SAa8lAG7rrFLoES9F7056bzXjJAxhl3RtJZ1 Tw&oe=66D1AF76

Messenger

08-26-2024, 04:41 PM

Yabbie

08-26-2024, 06:59 PM

Thanks Carol

I cannot see pt. 3 and 4 happening because the Government itself is so broke (this could well have been the reason for the 2019 changes to the Statutory Bodies having to return proceeds of asset sales to the gov)
For pt.1 The CEO is new so I am not sure that he should go and I think he is trying to do pt.2

Has it been made clear whether the comparisons to NSW are fair - do their numbers include Menangle/the Menangle Club

I wonder if there were some participants Not at the meeting as they might wonder whether being seen at the rally could have repercussions

The figures are taken from the last annual reports published by both Vic and NSW and do not include either Melton or Menangle so it is a level playing field

There were over 200 apologies received - I'm sure there were some who did not attend for possible repercussions. Attendees were a pretty fair representation of owners, breeders, trainers, drivers, bookmakers and other industry participants, spanning from young participants to those who have been in the industry for many many years.

Messenger

08-26-2024, 08:17 PM

Thanks again Carol
When I say Menangle Club, I am meaning Menangle as a whole - track etc, for there have been some claims that the entire staff for Menangle are not included in HRNSW figures whereas I thought Melton racing would have to be included in HRV's figures

Messenger

08-26-2024, 08:50 PM

I think I see what you mean now - the table below that shows the comparisons and lists staff excluding Melton and Menangle
(somebody sent it to me as little Stevie Cleve threw a hissy fit and banned me from AHRI group fb page 12mths ago)

So are the Employment costs also excluding the metro tracks?
I have been retired for 10yrs but the money seems pretty good when averaged out

HRV 103 staff @ $152,427
HRNSW 50 staff @ $142,000 (amazing how that averages so neatly)

Messenger

08-27-2024, 12:09 AM

One of our members has been fantastic at sending me information
The following 2 graphs show how the wheels have fallen off since 2019
How did they not put the brakes on!

Messenger

08-27-2024, 12:15 AM

Instead they just borrowed and borrowed

Messenger

09-05-2024, 01:06 AM

Any news since the rally
I look on the Victorian Harness Racing Club fb page but don't find anything new
(The page itself seems to have gremlins - sometimes it splits their latest post and show no comments, sometimes it is whole and has 4 comments attributed to it)

Messenger

09-05-2024, 09:57 AM

I doubt a $30k race should be run at Ballarat on a Thursday night (but I am looking forward to it)

https://www.harness.org.au/racing/fields/race-fields/?mc=BA050924#BAC05092407

Messenger

09-12-2024, 12:38 AM

How much would this trots place be going for? (Darren Hancock's?)

https://www.realestate.com.au/property-acreage+semi-rural-nsw-pheasants+nest-144339300
SOLD yesterday

Messenger

09-12-2024, 12:51 AM

Yabbie

09-12-2024, 12:18 PM

It has been over 2 weeks since the rally and I have not seen any news/updates. I am thinking that the parties must be meeting behind the scenes.

We all know that the timing is particularly bad as we are heading into breeding season and it is plausible that they have agreed to put everything on hold for the (supposed) good of the industry but I cannot imagine all the kindred bodies hanging fire for months

Shane Gloury provided this update on the AHRI FB site earlier this week:

The Minister for Racing has been provided with a copy of the video from the day of the rally and the kindred bodies have been in regular contact with his office. We are aiming to have a meeting with the Minister in the next fortnight. We have also been in regular contact with the Opposition Spokesperson for Racing Tim Bull who has been helpful. We are also hearing that local MPs have been receiving plenty of meeting requests and emails from concerned Harness Racing participants. We will keep everyone informed as developments unfold.

Messenger

09-13-2024, 08:18 AM

Thanks Carol, as I have said many times, that wonderful little man Steve Cleve banned me from there for ZERO reasons (I have a transcript of the exchange if anybody was ever interested)

Messenger

09-24-2024, 08:45 PM

Looking at the Kilmore fields for their cup day made me ponder whether Vic should become the 'trotting state' (even more so than it already is) as only $25k was needed to attract as good a field for the Trotters Cup as the $75k could muster for the Pacing Cup

How does turnover stack up on trots races compared to pacing races?

https://www.harness.org.au/racing/fields/race-fields/?mc=KI270924#KIC27092411

Messenger

10-02-2024, 09:55 AM

More cuts announced yesterday

https://www.thetrots.com.au/news/articles/hrv-announces-changes-on-pathway-to-sustainability/

This includes

February’s A. G. Hunter Cup will be reduced from $500,000 to $350,000, while the 2025 Victoria Cup and Great Southern Star will be reduced from $300,000 to $250,000. These are part of $1 million in savings across 46 features. The updated key race calendar for the 2024-25 financial year can be viewed here.

HRV will cease breeders’ bonuses, responding to feedback that money was better allocated to base prizemoney.

A single-tier Vicbred first win bonus will be introduced, with a flat $5000 bonus for two and three-year-olds and $3000 for four-year-olds. These changes collectively save the industry $1.7 million.

Regular prizemoney allocations will be adjusted to align more closely with wagering revenue, including the lowest race band starting at $4000 (previously $4500). Those allocations will be continually reviewed against revenue, with sustained positive wagering results to be returned to prizemoney.

Not much detail on race stakes.
I have always thought that $4,500 races were hard done by as they would seem to me to attract as much turnover as $7,000+ races so cutting them to $4,000 seems harsh but maybe I am wrong (plus the -$500 is not that noticeable as the stake still starts with a 4)

gutwagon

10-02-2024, 12:59 PM

Notice how they are reducing the first win bonus from 12k to 5k saying that participants have told them this money would be better spent on general prize money. But they have also reduced general prize money !

This cut will devastate the breeding industry. And they announce it just at the start of the breeding season. Surely any decrease in the first win bonus should be introduced over time, foals born this year should be the ones reduced to the 5k bonus. People have bred foals and paid up to a promise of 12k for pure Vicbred foals thus this should be honored by the board.

I wonder how the ACCC would view this as we are not getting what was promised when we paid up ?

Messenger

10-02-2024, 01:04 PM

Very good point Rick. All cuts and no mention of how they propose to improve turnover, I cannot see how Victoria is not gawn!

Messenger

10-02-2024, 11:51 PM

I have posted the following on the HRV fb page under a Vic Cup competition story as they are not going to report yesterdays real news

More cuts announced yesterday. The CEO is saying that we lose $45k a race - seriously?! How is it that the Board of HRV has not resigned?! $4,500 races are being reduced (no doubt along with some other tiers) but we can still have two $20k Oaks heats on Saturday night to just reduce the pathetic 16 entrants down to 12. The Derby numbers are not much better and one stable has just about half the entrants. Punters do not look at how much the horses are racing for, there is no way that $4,500 races are the problem (other than already being too hard for owners to make a return on). If Victoria is to survive, HRV need to come up with more than just cuts. Get some ideas people, listen to ALL participants and try and inspire some confidence that it is worth staying in Vic harness racing

We believe Club Menangle to have plenty of money invested thanks to the HP sale but what about WA and QLD - how can we be going so badly if they're supposedly OK

Messenger

10-04-2024, 11:36 PM

How are we affording six $10k races at Geelong tonight?

Messenger

10-06-2024, 09:35 AM

Paul Campbell has done a half hour interview with the CEO which can be found on his fb page or the HRV fb page

https://www.facebook.com/harnessracingvictoria

It can be summarized in one sentence : We have had to stop living beyond our means

I find it scary that whether we remain relevant or not all comes down to betting turnover

Can the board please resign - they have overseen a disaster and should have the grace to move on and let us see if someone else can do better

gutwagon

10-08-2024, 12:45 PM

We never hear from the CEO until after cuts are made. Where is the consultation with participants ? He claims they consult but the bodies deny they were consulted. All we want to hear from him is his resignation .
They people that sent us broke are not the ones that will put us back on the right path.

Messenger

10-08-2024, 06:03 PM

Hey Rick, don't you think that the Chairman and the Board should be resigning?
I think there egos will let them in case it reads as failure on their resumes.
Some have been around long enough to have categorically failed!

I believe the CEO's predecessors sent us broke and we are so close to dead in the water, it isn't funny. I think he can't really consult because the kindred bodies would not accept what has to be done to give us a slim chance of surviving. I am not saying I like it but I understand it and we DO need to hear some ideas to provide some confidence that HRV have more up their sleeve than just cuts.

I hate going on the HRV fb page seeing 75% of the posts being tips from people that I did not realize were expert tipsters
It gives me the feel of an organization that would be happy for their mother to blow her pension on the punt :(

Messenger

10-08-2024, 06:35 PM

No wonder Turnover has declined
The favourites in the 6 Gp1's on Saturday night

$1.65, $1.35, $2.30, $1.20, $1.60, $1.04

Think about it! How laughable it would be to see this at the gallops

https://www.harness.org.au/racing/fields/race-fields/?mc=MX121024

Messenger

10-09-2024, 10:45 AM

In The Age today

Butt believes an agreed sale would achieve two crucial goals: It would settle the sport’s debt with the state government, and it would allow HRV to retain 63ha of its Melton land to help future-proof the sport

Interesting however due to the 2019 legislation, I don't see how the proceeds of the 63ha ever go to harness

https://www.theage.com.au/sport/racing/a-90m-land-offer-could-save-harness-racing-instead-it-is-gathering-dust-20241004-p5kfzl.html

The VHRC fb page is also excited about the above (I seem to be the only one concerned about the 2019 legislation) and also posted the following

While the VHRC acknowledges that stakemoney cuts were, unfortunately, inevitable given the financial mess that HRV has got the Industry into, we strongly condemn the lack of meaningful consultation by HRV with the very stakeholders most affected. At no stage did HRV engage with the VHRC, the kindred body that represents owners. Owners are critical to Harness Racing and make the decision to invest in and race Standardbred horses. This lack of consultation and communication continues a troubling trend under the current regime at HRV.

Messenger

10-11-2024, 12:23 AM

"The Kindred Bodies will be conducting a series of Harness Racing Industry Forums (Roadshows) at key venues across the State in the coming weeks."

Yabbie

10-11-2024, 11:57 AM

https://m.facebook.com/story.php?story_fbid=pfbid0pnyVyFc5a4ZYUzKF24TyxcF vKf8vDnqnLeRtNjtjLF63ntkhHyHMdcvNVayejJYXl&id=100054198894532

Link to VHRC article providing dates and venues. Get along and give your constructive comments

gutwagon

10-19-2024, 01:52 PM

I really struggle to see the point of these meetings if HRV just make decisions without consulting these bodies anyway .

trish

10-20-2024, 03:50 PM

The prizemoney is not great in Vic.
$10 thou races last night, goodness me.
Not sure what will happen but owners, trainers & drivers must be doing it tough. Well everyone involved in harness for that matter.

Messenger

10-21-2024, 07:53 PM

Yabbie

10-22-2024, 11:46 AM

I wonder why there is not a forum being held at Melton - the centre of harness racing in Vic?

This question was answered by Shane Gloury as follows:

it’s logistically impossible for our volunteers all of whom have full time jobs and most with additional horse commitments to get to each venue in the State. Ballarat is central to many regional centres and only 45 mins from Melton which is why it was chosen. Also doubtful that we would have been afforded a room to conduct an Industry Forum at the HRV owned Melton Entertainment Park. For all of these reasons, Ballarat was chosen.

gutwagon

10-23-2024, 12:26 PM

Participants opinions are not welcome at HRV owned venues. These meetings are not endorsed by the board.

Messenger

10-23-2024, 02:49 PM

Doesn't HRV own all our tracks?

Messenger

10-23-2024, 03:38 PM

I am stunned that we have not seen any moves to NSW yet
Take this week as a typical week
Just looking at Non Metro meets

Half the races in Vic are for $4,500
Every race in NSW is for $9,792 (apart from Goulburn's at $6,936)

trish

10-24-2024, 08:42 PM

Maybe they can not afford it Kev.
You have to make money in any job you do.

Messenger

10-25-2024, 08:37 PM

The ramifications of the HRV cuts

HRV’s “pathway to sustainability” savaged VicBred futurities, previously up to $12000 under the VicBred “Pure” scheme (progeny from Victorian-based mares bred to a Colonial-bred stallion), and will be capped at $5000 in 2025.

Northern Rivers Equine and Llowalong Farms Principle Kath McIntosh said studs had been “caught on the hop” and breeders had responded immediately with their decisions for the current season.

“Usually we breed over 100 mares, and we would usually rebreed 75 percent of those mares that we foal down each year,” McIntosh told Paul Campbell, of Campbells Comments.

“This year I think we would be lucky to be rebreeding 40 – people are just not wanting to breed,” she said.

https://harnesslink.com/australia/studs-initiatives-to-incentivize-victorian-breeders-2/

trish

11-12-2024, 09:24 PM

Looking at the prizemoney for the Breeders Crown finals is sad.

Messenger

11-18-2024, 11:08 AM

It is really sad Trish.
$100k
When Ladies In Red won the 2yo, five years ago, it was $300k
When Led Suitcase won fifteen years ago in 2009, it was $311k
Even twenty years ago when Molly Darling won it was $190k

$100k would not even buy half of what it would twenty years ago, so it really is pathetic BUT it is reality for HRV

If young people in Vic see harness as their profession, they really need to consider leaving Vic or maybe think again
I know they are our future but are we able to provide them with a decent one?

trish

11-19-2024, 11:32 AM

Does not look like it.
I do not know how they are going to get on top of this huge problem. You are in the game because you love the horse or to make money, the latter is a must for everyone though.
These young people of today are lucky they are part of the generation that inherits property because there is no way anyone could afford to buy one or even pay rent with harness racing as you career.

Messenger

11-29-2024, 08:51 PM

Victorian harness racing’s first-win bonuses will be restored to $7000 for two and three-year-olds after $1.37 million was reallocated into the Vicbred scheme

But understandably the money has to come from somewhere

To fund the increases, Vicbred scheme fees will be increased, prizemoney will be reallocated from feature races, and processing fees will be restored.

Almost half of the funding will come from doubling the Vicbred scheme fees, which had been unchanged since 2007. Those who pay per year will see their fee increase from $220 to $440 per annum, while the series fee will double from $440 to $880.

A further $400,000 will be reallocated from features races, with the A G Hunter Cup to run for $250,000, in line with the Victoria Cup and Great Southern Star.

The Vicbred Super Series pacing finals will be run for $100,000, down from $150,000, while the trotting finals will be run for $75,000, with finals night worth $1.05 million.

HRV will also restore processing fee charges for leases ($83.60), foals ($220) and transfers ($75) from January 1, which had previously been absorbed but will now indirectly compensate Vicbred. There will remain no naming fee for Vicbred horses.

https://www.thetrots.com.au/news/articles/vicbred-first-win-bonuses-restored-to-7000-from-january-1/

Messenger

12-12-2024, 10:22 PM

NZ greyhound news has been moved to Odds and Ends

gutwagon

12-13-2024, 01:25 PM

I can see where they are trying to make some money, it's $25 just to nominate for a trial now !

Njcstables

12-14-2024, 10:23 AM

I can see where they are trying to make some money, it's $25 just to nominate for a trial now !

That's got nothing to do with hrv Rick. The clubs run trials and set their own fees to enter.

Messenger

12-22-2024, 09:27 AM

The kindred bodies have put out this update, which I will attempt to copy here (over four posts)

Messenger

12-22-2024, 09:30 AM

Pts 1 & 2

Messenger

12-22-2024, 09:35 AM

Pts 3 -7

Messenger

12-22-2024, 09:40 AM

They may still be calling them key points but I think they may be reconciled to the facts when some of their previous 'key points' are now only Additional

gutwagon

12-22-2024, 04:01 PM

That's got nothing to do with hrv Rick. The clubs run trials and set their own fees to enter.
I paid the money to HRV. Doubt the club gets it.

Messenger

01-09-2025, 01:44 PM

https://harnesslink.com/australia/kindred-bodies-continue-to-apply-pressure/

As you can see from reading back a bit - this Jan 9 story is weeks old

Messenger

01-31-2025, 09:44 PM

Despite no racing on Sunday, Monday night's scheduled meeting for Terang did not get enough nominations

trish

01-31-2025, 09:53 PM

Not enough noms = not enough horses.

Not enough horses = not enough money.

Messenger

02-02-2025, 12:31 AM

The media team led by Ryan Phelan showcased our code magnificently on racing.com tonight - hopefully we can capitalize on it.
If that did not win us any converts we are doomed. More on racing.com/CH68 would seem essential

Messenger

02-11-2025, 11:50 AM

Today is a glaring example of how Vic and NSW are poles apart

Vic has 7 races at Shep - three for $4k, three for $6k and one for $7k

NSW has 9 races at Menangle - 9 times $10k and 7 races at Young - 7 times $7k

Today NSW races for $139k, Vic races for $37k

ps NSW raced for $49k yesterday while Vic had no racing = $0

Messenger

02-20-2025, 07:43 PM

I am thinking there is a pattern/budget in operation whereby Vic's are racing for $5.5k per race on average

Tonight at Ballarat: 8 races for $44k = $5.5k av. per race

https://www.harness.org.au/racing/fields/race-fields/?mc=BA200225

It really isn't much is it
Luckily there is still enough people who love horses and will go into ownership but it has to be hard for trainers to attract them - realistically it cannot be for the hope of a return so hopefully they are offering a great experience

Messenger

02-21-2025, 08:55 AM

Maybe smart Horsham businessman and trainer Aaron Dunn will be the first to have a NSW stable - he certainly has plenty going around up there at present (for twice Vic money)

Not only do we only have 7 races at Melton on Saturday, we only have 6 at Geelong today. No racing on Monday for the 4th week in a row - is the horse population dwindling?

I am the first to campaign for better prizemoney but three $10k races at this little Geelong day meet seem strange programming - no doubt avoiding the gallops meets in the evening but will the timing of these races attract better turnover. Like the poorly programmed Terang Cup meeting - I fear not.

Messenger

02-21-2025, 12:05 PM

I have been told that today's Geelong meeting was supposed to be a night meeting (and their cup) but having been informed by Sky that they would be on Sky 2 they have postponed the cup and swapped today's meet to the Day to be on Sky1

Also told that there was supposed to be a Swan Hill meet on Monday but so few noms it was cancelled - Are trainers boycotting the $4k meetings or simply not prepared to travel for so few bucks

Messenger

03-05-2025, 10:50 PM

HRV roadshows to provide industry update, answer questions

https://www.thetrots.com.au/news/articles/hrv-roadshows-to-provide-industry-update-answer-questions/

For those who can’t attend in person, the Melton roadshow on Monday, March 17, will be streamed live on www.trotsvision.com.au.

Messenger

03-06-2025, 05:06 PM

The question that needs answering is "Why do we attract so little interest compared to gallops racing?"

We have 8 races at Ballarat tonight for a total of $43k in prizemoney
There is 8 races at Pakenham tonight for a total of $355k in prizemoney (that is an average of over $44k per single race)

trish

03-07-2025, 01:58 PM

That's a great question.
In some ways harness racing is very different to the gallops. The huge majority of people punting & watching the gallops have absolutely nothing to do with the industry , whereas , the huge majority of punters & interested parties in harness racing have a direct connection to the industry . Or are associated with someone that is . Therefore , as people leave the industry so do they .
Question that should be asked is why are they leaving .
You could ask us that because we left!

Messenger

03-07-2025, 08:57 PM

Of course we could also turn that around Trish in that
Gallops have plenty of fans other than those involved while Harness does not

trish

03-07-2025, 10:30 PM

Exactly right & its so easy to see why.

Messenger

03-10-2025, 09:03 AM

It is a public holiday Monday in Vic - how can we afford to NOT have any trots meeting today????

Gammalite

03-10-2025, 10:57 AM

Plenty of talk about lack of meetings an money but the core issue is reflected here in this forum as well. People interested in Harness Racing. The interest has waned and so has the punting dollar.
The first step back is selling the product. There is virtually no coverage in mainstream media or radio. It is out of mind out of site. We can do nothing about the fact that Melton is not the best place to get to by public transport
so it is less attractive to go for a lot of families but we do need to get the message out. That involves some thinking outside the box. We get one small column in the HS on Fridays. Maybe as a sponsorship deal with the HS we can
get a few more spots in the paper in exchange for the HS having their spot on the sponsor board and naming rights of some races rather than actual cash. Same with Radio. Adds for up coming meetings on some FM stations for a bit of advertising spots.
Also better coverage on SEN who are the sports radio. Interest boosts turnover. Turnover increases prize money.

Messenger

03-10-2025, 12:18 PM

True Anthony but they have employed people to think outside the box for 50yrs now
It is the chicken and the egg - there is no coverage because there is no interest / there is no interest because there is no coverage

We have become fairly miniscule and other miniscule sports like hockey, boxing, athletics, cycling, even golf, netball and soccer would all be wanting more coverage
I am not sure HS are going to excited about naming rights, I think we may pay for what little we get now and remember the TAB were not even interested in the naming rights to Melton anymore

There is heaps more competition nowadays - not that long ago you could not even bet on football, cricket, tennis. You did not have everything beamed into your lounge
We also have to remember that Australia has a tiny, tiny population and they now have the whole world's sport at their fingertips
Locally Gallops and 20 second dog races have encroached on the nights that used to be ours and where we look our best

If you look at history you will find that the gallops hierarchy have always been our enemy and this infiltrated into the media

I think that the best idea we had in the last couple of decades was to try and tap into the French trots public but somehow we let that flounder

We have a couple of small hopes IMO - producing an International world champion horse which brings the media on board (it would have to be a trotter for this to happen and there are a couple of stalwarts that have been working away at this)

Reinvent our product to be far more exciting in the eyes of all that are not enthusiasts - go out of the box here eg Figure 8 track, ......

I am rehashing now. You might like this thread here Anthony, it is 39 pages of musings from the last decade

https://www.harnessracingforum.com/showthread.php?11659-IDEAS-on-how-we-can-improve-Harness-Racing

I hope like hell that you can think of something for us because somebody has to - it may be too late for Vic

Messenger

03-11-2025, 05:38 PM

Are we losing participants? We are definitely seeing a lot more 6 race meetings
It could just be more 6's but I remember that they were going with 10's not long ago as they said they were more cost effective

Messenger

03-30-2025, 07:47 AM

Frugal Fare is well named for this thread
Before last night FF had had 10 starts for 5 wins, 3 seconds and 1 third
All his starts had been at Shep or Bendigo and yet he had won only $21k
Now after a Saturday night Melton win his prizemoney is still a few bucks short of $30k

https://www.harness.org.au/racing/fields/race-fields/?mc=MX290325#MXM29032506

Messenger

04-23-2025, 02:08 PM

I have heard a rumour about a possible redundancy that will absolutely shock people if correct
When I look at the fb page at all the people we are paying to give tips or report on trials etc I cannot believe this rumour could be true but my source is very strong.
We must be totally $@^%*# !!!!!!!!!!!!!!!!!

Tread carefully HRV - you don't dismiss the ones that we can all see are doing important work well

trish

04-23-2025, 08:58 PM

So Kev , you do not think I can ask them for a loan?

trish

04-26-2025, 03:28 PM

6 $4000 races at Melton last night . Not good .
Obviously people are not in it for the money!!!

Messenger

05-08-2025, 07:51 PM

I have gone to the Annual Report to try and work out how we got into this mess

At the time of the Report only one of the 5 on our current board had been there longer than 3 months
so you could say that heads have rolled

The following chart is from the Report

Now for some 'super amateur' accounting
We will begin in the latest 2024 column
Lets start at the Yellow Net Result line

Our Net Result was +$41m But you will see from the lines above that, that was only due to nearly $67m of grants cancelling out our $25.838m loss.
Then if you follow my red line you will see how the grants stopped the previous years Total Liabilities of $61.872m from spiraling out of control (to what would have been over $80m)
The $41m Net Result helps get our Total Liabilities down to $16.85m (very bottom row)
See in my next post 'what this has cost us' !

This is of course very aproximate stuff by me. I did the 2023 with a blue line because I do not understand how the - $6.658m Net Result took the Total Liabiilites from $42m to nearly $62m? Something is missing which I will try and hunt out (maybe last year's report?)

It is disgusting how the board was letting this debt spiral out of control

Messenger

05-08-2025, 07:56 PM

From the report = How they have taken HRV's excess land !

In the 2024 financial year, the Victorian Government provided $23.7 million in operating grant income to help with HRV’s solvency and the implementation of a restructuring strategy. A further $41.9 million has been recognised as grant income, funding that was paid directly to Treasury Corporation Victoria to repay both HRV’s short-term and long-term debt facilities. This funding is part of the solvency support package for HRV that the Victorian Government Budget and Finance Committee (BFC) meeting approved on 12 December 2023. The receipt of these funds from the Government resulted in an overall profit for the year of $40.1 million, however, as part of the support package, the decision of BFC also required HRV to declare 75.1 hectares of vacant land at Melton surplus to its requirements and referred to the Department of Transport and Planning to facilitate its sale

This is where you find the Annual Reports

https://www.thetrots.com.au/about-hrv/annual-reports/