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Sad to see the track close down but the way of the future is Menangle and the 1400m track of speed.
Great that Fred Hastings allowed Kevin Thompson to call the last ever race.. and great to see Karloo Mick take the race out..
Hope Mick goes well this Sunday night at Bathurst..
What a send off and in a way it was good to see mainly NSW horses tace on the night its not juts Menangle its the money that will stabilize the industry in NSW and reignite the industry with a higher income from owning ,racing and breeding horses.
Hi Nat
That is correct as long as they do spend the money correctly, it will be interesting to see if the country clubs get looked after or will it be spent mainly at menangle. Menangle is a great track for horses to race on but to be honest i hate going there to watch races as there to far away. For me the best track to watch races at is melton and even though it's not a 1400m they still run super times.
Yes definitely that’s where Victoria has it at the moment great country scene good money so your horses can graduate to the big time. I hope they set up a prize money fund that supports its self and can grow as well as upgrade and standardize all their country tracks to around 1000m and start running more Sky meetings all over the state
I believe the tracks to be up graded are Tammworth, Penrith, Bathurst and Wagga and if Harness Racing n.s.w are serious i think they better add Dubbo and Young to this list. I would like to see country races go from $5000 to $7000 and metro races from $14000 to $20000 if they can afford it. I hope when they do look at a prize money increase they put a business plan into place as to what they can afford now without going over board and for another increase in 5yrs. With the sale of H.P if they invest properly the interest will cover most of it and if the race fields legislation goes Racing n.s.w way the increase in 5yrs could be significant.
So thats a $2000 increase per race, and $6000 per metro race.Quote:
Originally Posted by mango
Lets say each meeting has 8 races. Lets say 7meetings a week plus metro. Thats 42 races with $2000 increase, $84000 a week plus metro = $132'000 increase per week. Over a year that is almost $7 million. Thats great for 15years. Then what? We are 15 years down the track, with the same bottom line but LESS assets. Yeah lets splash out an extra $7 million in prizemoney a year. Lol.
Actually those figures are very achievable.Quote:
Originally Posted by aussiebreno
If you invest $150M at 5% interest, you will be getting $7.5M in additional revenue AND still have the $150M lump sum
If invested wisely, the returns on average over a 5-10 year period, should actually be closer to 10% and so the increases should keep going up
Mightymo
Thankyou and not only that if Racing n.s.w win the racefields legislation court case Harness Racing N.S.W are owed approx $15mil and then recieve around another $7mil per year so that would easily cover prize money increases without having to touch the H.P sale money. So that means that $150 mil invested at 5% and let it roll for 10yrs will give you well over $75 mil in interest earn't on your $150mil.
Aussiebreno
If you read my post i said if the race field legislation goes racing's way. So more prize money is very achievable whilst earning interest on a lump sum. So why not splash out $7mil a year and to say what about 15yrs down the track well if invested right there could possible be over $100 mil in interest earn't. I think you wen't of half cocked Aussiebreno. lol
I stand corrected.
man this sport has huge potential to force itself into the big time limelight...
mightymo might be the man to invest the money for HP
aussie that is why they've come up with the 7 mill i'd say, a conservative 5% over the long term accounting for inflation and market shocks
the real bonus of the prizemoney imo is for breeders and nz... there will be some serious inflation in the price of horses in the next few years
the race fields legislation in nsw has been marked for mainly boosting the breeding incentives i believe with a small amount left over, but dont assume that the amount of money they'll receive will stay at 7 mill a year, it will if anything decrease as the corporates and betfair look to avoid paying it, either going overseas (malta, pacific islands) or passing on the cost to punters