New Zealand's Mid Weekers Earn Stakes Increase
- Saturday, 14 September 2002 00:00
New Zealand Thoroughbred Racing chief executive Allan Fenwick announced that the an ex-gratia payment will be made to assist clubs to meet the minimum stakes level.
The Avondale Jockey Club that race on Wednesday September 18 and the Poverty Bay Turf Club that race on Thursday September 19 have confirmed that their advertised stakes will increase to the new minimum of $5000 under the "Normal Day Minimum Stakes Project".
Fenwick also announced another funding project called the "Premier Day Risk Sharing Project".
The objective of the Premier Day Risk Sharing Project is to provide a safety net for clubs conducting premier days.
"It is designed to give clubs comfort to maintain stakes for each of their premier days at a minimum of those in place last season in the event that turnovers on those days are down on those achieved last season, there will be financial assistance available by way of a top-up of commission earned," Fenwick said.
The two projects involved additional funding of $1 million made available to the thoroughbred code from the Racing Industry Board.
Media Release - TNZ