Message to Industry: Prize Money 5th versus 10th
At a recent NZTR Board meeting the issue of paying prizemoney back to 10th was discussed in detail. Management produced a comprehensive paper looking at the current policy of paying prizemoney back to 10th place for all races and a raft of alternatives.
As the custodian of funding for the industry, NZTR has to be able to determine the policy that will generate the best returns to it through the Code Funding Policy and from TAB NZ and overseas betting operators. The Board believe the current policy achieves this.
The Board has determined that the current policy, first introduced in the 2021/2022 season, has a number of benefits to the NZ Thoroughbred Code and should be retained.
By way of background the paper looked at many aspects that contributed to the above decision. Some of these were:
- Maximising turnover and funding paid to NZTR
- Consistency with top 5 leading Australian racing states
- Increased financial security for NZTR given economic pressure.
- National consistency of prizemoney allocation across clubs
- Ongoing flexibility to add races and stake money
The Board will review this position on an annual basis.