All-Star Mile prizemoney cut as Racing Victoria maintains overall stakes level for 2024-25 season

Racing Victoria has again slashed prizemoney from the All-Star Mile with the saving to fund maidens and other feature races.

Racing Victoria has reduced All-Star Mile prizemoney from $4 million to $2.5 million, with the saving to fund grassroots, including $50,000 Premier Maidens, and other feature events.

However, overall prizemoney and bonuses for the 2024-25 calendar has stayed at the same as last season – $316 million – despite continued financial pressure.

RV has reported a deficit of about $12 million, largely from wagering turnover being down 10 per cent the past 12 months.

• Four-play, Quadzilla: $200 betting strategy for The Valley

RV has committed to a cost-saving program to cut its operational expenditure by up to $10 million.

The All-Star Mile reconfiguration includes the Victoria Racing Club awarded hosting rights ongoing and the removal of the voting process to get horses into the race.

RV has ruled out the All-Star Mile becoming a slot race.

The All-Star Mile will be at Flemington on March 8 next year, with the Group 1 Newmarket Handicap, three weeks before the Group 1 Australian Cup.

RV chief executive Aaron Morrison said the Super Saturday schedule further strengthened the elite mile race.

“The connection between the All-Star Mile and Australian Cup has delivered a great racing pathway and narrative over the past two years,” Morrison said.

“This will be cemented with both races now run at Flemington.”

Pride Of Jenni winning the 2023 All-Star Mile, which will now be worth $2.5 million from next year. Picture: George Sal/Racing Photos via Getty Images

The All-Star Mile prizemoney reduction has been diverted largely to grassroots and entry level races including Premier Maidens on Sundays and a $1 million Emerging Stars Series.

The Emerging Stars will be made up of 10 maiden qualifiers worth $75,000 each at Ballarat, Warrnambool and Geelong towards a $250,000 final on Ballarat Cup Day.

• O’Brien keen to Sea What spring looks like

Premier Maidens will be added to country Victorian Sunday race cards from October 1.

Select feature races at Flemington had prizemoney cut by a net $1.125 million, including the Australian Cup from $3 million to $2.5 million to align with the All-Star Mile.

RV has boosted the Group 2 Crystal Mile – $400,000 up from $300,000 – and Group 3 Tesio Stakes – $300,000 up from $200,000 – to support the Cox Plate Day undercard.

The Blue Diamond Series received $50,000 increases to the Previews and Preludes at $250,000 and $350,000 respectively.

“One of our key goals is to maximise returns to participants and owners,” Morrison said.

Originally published as All-Star Mile prizemoney cut as Racing Victoria maintains overall stakes level for 2024-25 season