Prizemoney Increases For Sydney Races
Wednesday, 20 February 2008:  | | Prizemoney increases for Sydney metropolitan meetings |
The increases result from prizemoney not paid due to the EI shut down last August that extended to December 1.
As a result, the following prizemoney increases for metropolitan races will be implemented from April 1.
• Metropolitan Saturday prizemoney will increase by $5000 per race over the levels in place prior to the outbreak of EI. This will increase prizemoney for Saturday metropolitan races to a minimum of $70,000 per race.
• Metropolitan midweek prizemoney will increase by $2000 per race over the levels in place prior to the outbreak of EI. This will increase prizemoney for weekday and Sunday metropolitan races to a minimum of $27,000 per race.
In assessing the prizemoney increases, RNSW has also addressed the anomaly existing between some Listed Races and minimum Saturday prizemoney.
The differences have made some non-feature Saturday prizemoney and BOBS bonuses more financially attractive than contesting Listed Races.
As such the prizemoney for all Listed Races has been increased to $100,000, also effective from April 1.
The metropolitan increases follow on from increases in provincial and country TAB prizemoney taking effect during February and March.
RNSW chief executive Peter V'landys said the prizemoney increases reiterate the commitment to minimise losses to racing industry participants from EI.
"It continues Racing NSW's policy of ensuring that racing remains financially attractive to all owners," V'Landys said.
AJC chief executive Norman Gillespiewelcomed the announcement.
“The AJC has been working with Racing NSW as it believes it is imperative to maximise returns to participants," he said.
"With other initiatives in place we will continue to work with Racing NSW to further increase these returns.”
STC chief executive Michael Kenny also supported the announcement.
“We fully support the initiative and will increase the prizemoney on our Saturday and midweek races and lower end Listed Races.
"This provides a significant boost for Sydney racing and its owners as we recover from EI," Kenny said.
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