The Championships, Doncaster Mile: NSW Racing to cut prizemoney by $10 million
In a drastic attempt to ward off the financial hardships facing racing in Australia as a result of the coronavirus pandemic, NSW racing has stripped back prizemoney in a big way.
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Prizemoney for The Championships has been slashed by nearly $10 million as Racing NSW and Australian Turf Club respond to the unprecedented challenges of the coronavirus pandemic.
The 10 feature races over the next two Saturdays at Royal Randwick have had their prizemoney reduced by 50 per cent.
The financial savings made by shaving top end prizemoney will help maintain minimum race prizemoney to benefit all sectors of the racing if the pandemic worsens and the industry is shut down.
“We are trying to protect the racing industry as a whole,’’ Racing NSW chief executive Peter V’landys said.
“This decision is made to ensure we have enough funds to keep the industry viable if there is a complete shutdown.
“One of the objectives is to have enough money to keep the horses in work through this period if there is a shutdown of racing. In the worst-case scenario, we want to be self-sufficient.’’
Although the threat of a Government-imposed lockdown still looms large, Sydney’s showpiece autumn carnival will continue with Day One of The Championships at Royal Randwick on Saturday.
But the prizemoney cuts means the Group 1 Doncaster Mile stakes has been slashed from $3 million to $1.5 million.
Other changes for Saturday include the TJ Smith Stakes worth $1.25 million (down from $2.5 million), the ATC Australian Derby cut from $2 million to $1 million, and the Inglis Sires also halved to $500,000. The Country Championships Final stakes is now $400,000, down $100,000.
There are further changes for Day Two of The Championships on April 11 with the Queen Elizabeth Stakes carrying prizemoney of $2 million (down $4 million), while prizemoney for the Sydney Cup has been halved to $1 million, the ATC Australian Oaks, Coolmore Legacy Stakes and Percy Sykes Stakes are now worth $500,000, and the Provincial Championships Final is at $400,00 (down from $500,00).
The total prizemoney cuts for The Championships amounts to $9,450,000. Stakes for the support races on both days of The Championships retain their advertised prize money.
“The ATC supports Racing NSW to do everything possible in the best interests of the industry,’’ ATC chief executive Jamie Barkley said. “We are all in this together to keep racing going for as long as we can.’’
Godolphin’s Australian managing director Vin Cox said the racing industry participants can understand the decision making of Racing NSW and ATC.
“These prize money cuts have been made for the longevity of racing,’’ Cox said.
Star jockey Tommy Berry took to social media to say: “Really supportive of this as I’m guessing it will be saved for people in need if the worst eventuates.’’
Despite these prizemoney decreases, the NSW racing industry is better placed than most sporting bodies to weather the storm during the coronavirus pandemic.
Racing NSW has established a Future Fund to help get through this type of crisis.