Stawell Gift receives four-year lifeline courtesy of $1.22m rescue package

The Stawell Gift has been given a much-needed four-year lifeline courtesy of a $1.22 million rescue package from the state government. Scott Gullan reveals what the future of the race will look like.

The Stawell Gift has revived a much-needed lifeline. Picture: AAP Images

The Stawell Gift has been given a four-year lifeline courtesy of a $1.22 million rescue package from the state government.

After talks between the Stawell Athletic Club and the government broke down late last year, an agreement over the creation of a new committee of management for Australia’s richest footrace was reached this week.

The future of the iconic event is now guaranteed until 2023 with prizemoney of $40,000 for both the men and women’s Gift winners to be maintained.

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Channel 7 have also confirmed they will continue to broadcast the famous footrace over the Easter weekend for the next three years.

The new management committee – which is to be established by July – will include independent experts and representatives of the Victorian Government, the Northern Grampians Shire Council, the Victorian Athletic League and the Stawell Athletic Club.

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Minister for Tourism, Sport and Major Events Martin Pakula said the Gift provided major economic benefits for the state.

“The Stawell Gift is more than a footrace, it’s part of the sporting folklore of this state,” Pakula said. “We’re delighted to be able to bring all the important players together to ensure that the event is secured, and along with it, the jobs and investment supported by it.”