Brace yourselves for serious stake cuts

Funding to the codes for next season’s race stakes will be known on Friday and it could be up to 25% down on this year.

The revelation yesterday, from Harness Racing New Zealand’s interim chief executive Phil Holden, confirmed fears that the industry is on the verge of severe stakes reductions.

The Racing Industry Transition Agency board is meeting today and Holden says it will reveal its budget to the codes on Friday.

“We’ve had some broad conversations with them and it’s fair to say it’s going to be significantly less. It could be anywhere up to 25% less.”

Read the full story here!

Reprinted with permission of Barry Lichter

Lincoln Farms