New Zealand Thoroughbred Racing has today (August 5) released a consultation document to aid in deciding the future of jumps racing in New Zealand.
The consultation, which will run through to September 6, presents two main options for the future of jumps racing: continuation with a dedicated strategy and additional investment, or a managed wind-down leading to eventual closure.
Bruce Sharrock, NZTR Chief Executive Officer, has asked those involved in jumps racing to carefully consider the document and provide feedback with their preferred option.
“Jumps racing in New Zealand is at a crossroads and as an industry we now need to decide what path we should take. Unfortunately, the economic reality means doing nothing is not an option,” said Sharrock.
“We are asking participants to carefully read the document, understand the situation we’re currently facing, and ultimately provide feedback on their preferred option.
”The consultation document outlines the work that has been done to arrest the decline in the participation of jumps racing as well as the broader contribution jumps racing makes to the thoroughbred racing industry.
A number of reasons for the need to consult are laid out, supported by statistical analysis.
These include;
Decline in Jumps Racing Participation and Races:
● The number of jumps races in New Zealand has decreased from 122 in FY10 to just 61 in FY24. This decline mirrors a reduction in the participant base.
Wagering Statistics:
● In the 2022/2023 season, the average turnover for flat races was $162k, significantly higher than the $91k average for jumps races. This disparity highlights a major challenge in the sustainability of jumps racing.
Decline in Community Participation:
● The number of trainers participating in jumps racing has dropped from 146 in FY10 to just 54 in FY23. Similarly, the number of jockeys has halved over the same period. Only 22 jockeys were involved in FY23.
Challenges in Jumps Racing Infrastructure:
● An audit revealed that the infrastructure supporting jumps racing is, at best, average. Riccarton Park remains the only South Island venue for jumps races.
Sharrock emphasised that no decision will be made until 31 October 2024 and called for those responding to the consultation to give feedback on whether there were aspects of jumps racing that the document had not considered.
“We encourage all participants and stakeholders to have their say. In particular, we would like to understand if their level of investment or participation is likely to change over the next 12 – 24 months and whether those participants would consider involvement with a dedicated investment strategy,” said Sharrock.
“At this stage this is purely a consultation, and no decision has been made. Once the consultation closes, NZTR will spend some time analysing the responses and further working groups will take place before a final decision is made by 31 October 2024.”
Those interested in responding to the consultation can download and review the consultation document here.
Feedback needs to be submitted by September 6, 2024.
