The Moonee Valley Racing Club (MVRC) has cut prize money for the Dato Tan Chin Nam Stakes by $100,000 after it failed to gain Group One status.
The Australian Pattern Committee decided against elevating the weight-for-age 1600m feature, run on September 10, prompting the MVRC to reduce prizemoney for the race to $300,000.
“The MVRC has contributed $540,000 in additional funding to the Dato Tan Chin Nam Stakes to support its campaign to have the race elevated to Group One status,” the club said in a statement.
“This has come to nothing as the Australian Pattern Committee last week decided not to elevate the race from Group Two to Group One.
“As a result prizemoney has been reduced in accordance with the race’s Group Two grading.”
The MVRC has also reduced the prizemoney for the Group Three McEwen Stakes (1000m) on the same program from $200,000 to $150,000.