On behalf of the Board and management, we are pleased to provide the Harness Racing New Zealand 2023/24 Funding Summary [click on this link].
In summary:
Harness racing stakes will increase by nearly $5m for the 2023/24 year.
The new budget, approved by the Harness Racing New Zealand Board, follows the historic deal between Entain and the TAB, that came into effect on June 1,2023.
HRNZ will receive funding of $54.4m next season – a substantial increase on previous levels.
Around 71% of that funding will go directly to stakes.
Entain will also provide other substantial funding, including a major commitment to two-year-old racing and a two-year-old bonus scheme.
Base funding will increase by just over $3m with all races falling into one of seven categories. Funding will start at $10,500 for Provincial Low Key races to $30,000 for races at Addington during New Zealand Cup and Show Week.
The Country Cups will get an extra $5,000 in stakes to reward those mid-grade horses that are so important to the sport.
Group races will also get a funding boost, up $10,000, and the Race by Grins, our richest race, will get $150,000 from HRNZ (an increase of $100,000) to recognise its importance in the racing calendar. In addition to that the stake for the NZ Cup, our most prestigious race, will increase to $750,00 (from $631,500).
Kind Regards
Phil Holden Gary Woodham
Chair Chief Executive
