Greyhound Racing New Zealand Board approves 10% increase in stakes
At the Greyhound Racing New Zealand Board Meeting on 31 March 2017, the Board approved a 10% increase in stakes across all races apart from Group and Feature and NZRS finals. This increase will be applied between 1/5/2017 to 31/07/2017. The increase recognises the increased costs to trainers and owners over the past twelve months.
Despite the popularity and importance of sprint racing, this is the first increase for these races in five years. It is a significant step forward. We are conscious of wanting to do something now whilst we work on our budgets for the next season under the clear knowledge that changes in code funding levels are coming through once initiatives such as the Race-fields legislation and Class 4 Enhancement funds are understood.
The proposed increase was one of several recommendations that came as a result of the Stakes Review Project. We want to thank all the stakeholders and LPs that took the time to respond to the survey. We got fantastic constructive and thoughtful feedback that really helped shape the recommendations that went to the Board.
This is the most significant increase for many years and is only stage one of the ongoing stakes review. Group, NZRS and Feature races will be reviewed separately to ensure they are positioned to bring the most benefit to the industry.
CEO, Greyhound Racing New Zealand