The Chairman of Racing NSW, Mr Russell Balding AO, today announced that prizemoney levels will be restored to pre-COVID-19 levels, effective 1 July 2020.
Mr Russell Balding also confirmed that the prizemoney levels for the feature races in the NSW Spring Carnival will be maintained and also confirmed the dates of those races (see attachment).
“Collectively, the industry has done a great job at ensuring that racing has continued during these uncertain times. Industry participants across all sectors complied with the very strict and successful bio-security measures adopted by Racing NSW, which were critical to enabling racing to continue during COVID-19. This in turn meant that wagering turnover, which is the main source of funding for prizemoney, was not as adversely impacted as initially feared, such that Racing NSW is in the financial position to be able to restore prizemoney levels much sooner than expected” said Racing NSW Chairman Mr Russell Balding AO.
“It is important that the thoroughbred racing industry is able to move forward with confidence. Restoration of prizemoney levels to their pre-COVID-19 levels, to be distributed to the industry participants who continued to put on racing during COVID-19, enables those participants to plan their future with confidence,” Mr Balding added
This announcement also confirms that The Everest, to be run on 17 October 2020, will be for a record $15 million with The Golden Eagle confirmed to be run on 31 October 2020, for $7.5 million. The second running of The Hunter and The Gong, to be on 14 November 2020 and 21 November 2020 respectively, will continue at $1 million prizemoney for each race.
Again, a record for Provincial Racing in New South Wales. Mr Balding also stated “The confirmation of racing dates enables industry participants to move forward with certainty.
Trainers and owners can now properly plan the racing preparations for their horses. With these announcements today, we are very confident that our extended Spring Carnival will be further strengthened and build on the success of last year."
