Major NSW Prizemoney Increases

Major NSW Prizemoney Increases

Sep 06, 2016

Racing NSW and the Australian Turf Club today announced that as of 1 October 2016 the minimum prizemoney for Saturday metropolitan races will increase to $100,000 per race.

“This increase headlines several prizemoney initiatives totaling almost $53 million annually which has been announced this year, capping off a surge in NSW prizemoney over four years,” said Racing NSW Chairman, Mr John Messara AM.

“Today’s announcement is a further step towards achieving a vital component of Racing NSW’s Strategic Plan, intended to financially stimulate the NSW Thoroughbred Racing Industry.

“In 2012, total NSW prizemoney was $118.9 million. Following today’s announcement, I’m delighted to advise that annual prizemoney in NSW will be more than $204 million, an increase of $85 million over that time.

“These increases are entirely sustainable and are fully-funded from the proceeds of the sale of digital media rights, Race Fields legislation fees and parity,” Mr Messara added.

Increases to prizemoney are highlighted as follows:

• * Metropolitan Saturday minimum prizemoney increasing to $100,000 per race or almost 18% on 1 October 2016 from $85,000 per race.
• * Provincial minimum prizemoney increasing to $30,000 per race or 36% on 1 October 2016 from $22,000 per race in June 2016.
• * Country TAB minimum prizemoney increased to $20,000 per race or 33% on 1 July 2016 from $15,000 per race in June 2016.
• * Country Sky 2 minimum prizemoney increasing to $10,000 per race or 25% on 1 October 2016 from $8,000 per race.
• * Addition of an eighth race to 20 selected midweek and night ATC race meetings from 1 October 2016, injecting a further $800,000 in prizemoney.
• * Inclusion of an $80,000 feature race on ATC night meetings from 1 October 2016, injecting a further additional $320,000 in prizemoney.
• * Group 2 race prizemoney increasing to a minimum of $200,000 per race or 14% on 1 October 2016 from $175,000.
• * Group 3 race prizemoney increasing to a minimum of $150,000 per race or 20% on 1 October 2016 from $125,000.
• * Listed Race prizemoney increasing to a minimum of $125,000 per race or 25% on 1 October 2016 from $100,000.
• * Inclusion of a $150,000 feature race on selected metropolitan meetings.
• * BOBS bonuses of $20,000 to be added to two and three year old Listed races from 1 October 2016.
• * Country and Provincial Championships qualifying heats to be run for $150,000.
• * A fortnightly $40,000 provincial maiden race on selected meetings from 1 October 2016.
• * Thirty $40,000 country restricted maiden races on selected Showcase meetings from 1 October 2016.

Australian Turf Club Chief Executive Officer, Darren Pearce said the depth and breadth of today’s announcements for Sydney racing were among the most significant in the Club’s history.

“The ATC is fully funding more than $4 million to increase all metropolitan Saturday races to $100,000, setting the new benchmark in Australian Racing," Mr Pearce said.

“All Stakes races will benefit from newly increased minimum prizemoney levels, and new feature races will be added to Night Racing fixtures and the Melbourne Cup Race Day at Royal Randwick.

“These prizemoney increases are just one part of the ATC’s focus and long-term strategy to grow a stronger and sustainable future for Sydney racing for decades to come.

“The ATC will continue to help fund investment into racetracks, training infrastructure and our spectator facilities, for the benefit of everyone in racing. It's time to make Sydney racing the strongest and most competitive racing in the world.”

News from Racing NSW & ATC Joint Media Release