New Zealand Thoroughbred Racing will increase its minimum stakes from March 1.
The minimum stake at all categories of meetings will be consistent, regardless of the time of the year, NZTR chairman Matthew Goodson said on Tuesday.
All premier meetings will have a minimum stake of $NZ40,000 for open races, $NZ30,000 for rating 85 races, $NZ25,000 for R75 races and $NZ20,000 for all other races.
On average, there will be one premier meeting per week, with a skew towards the summer season, providing a strong incentive to retain and race better-class horses in New Zealand, Goodson said.
Prizemoney at all feature meetings will be a minimum of $NZ25,000 for all open races, $NZ15,000 for R85 and R75 races and $NZ12,500 for all other races.
All Listed race minimum stakes will increase from $NZ45,000 to $NZ50,000.
A new category of “tier two” feature meetings, run generally on days other than Saturdays, will replace a number of Central region and some Northern feature meetings.
Prizemoney for these meetings will be a minimum of $NZ15,000 for all open races, down to $NZ7000 for maiden races.
All races on “industry” days will be run for a minimum of $NZ7000, up from $NZ5000 in Northern and Central regions and $NZ6000 in the South Island.
The new structure will see at least seven thoroughbred meetings on five to six days per week. The major change will be the addition of meetings on Mondays and Tuesdays.
“After several very difficult years, we are pleased that our structural changes will allow sustainable and much needed prizemoney increases,” Goodson said.
“While a solid step in the right direction, much remains to be done.”
NZPA WGT AAP TURF
