Midget

Big announcement pending

67 posts in this topic

NZRB to boost funds by $24 million over next two years.

2017/18

Additional Stake Money:

$6.5 million - Thorougbreds

$3.6 million - Harness

$1.9 million - Greyhounds

This is on top of the $4.77 million Industry Enhancement Fund Initiative announcement.

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This is very positive news, anyway you skin it,  So hopefully we can grow off this.

My concern is that racefields and the betting platform do not meet the calculated/estimated figures.  If this increase is being paid from reserves till the racefields and betting platform money comes in then that is a concern.  As once reserves are gone they are gone.

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36 minutes ago, Dopey said:

Good start - but remember that my maiden runner is racing at pakenham on SUNDAY for $23000

Fair play to you Dopey.  But personally I love travelling around NZ to our racecourses.  I don't expect to race in NZ for the same amount as Australia I just wanted to be a bit closer to their stakes.

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1 hour ago, Midget said:

Those who know are saying watch your Trackside TV now, and thank the meeting from Million Dollar night ( that you mostly all slagged off as a failure )

I just hope the rumours are true  

The meeting may have forced their hand to back their judgement/strategies but is it sustainable, or will it all end in tears again like it did last time? The meeting asked them to spend money that they don't yet have and seemingly coerced them into parting with it. How sensible is that? Sure there's some risks says JA, but I'll be long gone by the time the wheels fall completely off.

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22 minutes ago, shaneMcAlister said:

Fair play to you Dopey.  But personally I love travelling around NZ to our racecourses.  I don't expect to race in NZ for the same amount as Australia I just wanted to be a bit closer to their stakes.

As I do too 

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2 hours ago, Midget said:

You're out to lunch....again .....

Brown Fox liked my comment too!!!

While I accept your comment Midget, as both of us know about first growth wines, caviar, and confit of duck the majority don't and I wonder why Brown Fox is having a go at me on something he knows nothing about.

Liz

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8 hours ago, toolittletoolate said:

So 6.5million extra next season for TB code less the 3.2million NZTR have/will lost this year so only 3.3million to distribute? Is that how I read the herald press? Or am I confused?

I'm not quite clear where the $3.2m NZTR  loss figure comes from. Is that an expected reduction in distribution for FY18 due to a decline in turnover share? It sounds like about the amount of stakes they won't have paid out because of the cancelled meetings. If that is the case it is still in the NZTR bank and available and the loss is to participants, owners, trainers, jockeys.

Whatever, JA was very clear that the $6.5m must all go to boosting stakes, or be returned to the NZRB. It can't be used to offset other losses or anything else as I understand it.

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30 minutes ago, Leggy said:

I'm not quite clear where the $3.2m NZTR  loss figure comes from. Is that an expected reduction in distribution for FY18 due to a decline in turnover share? It sounds like about the amount of stakes they won't have paid out because of the cancelled meetings. If that is the case it is still in the NZTR bank and available and the loss is to participants, owners, trainers, jockeys.

Whatever, JA was very clear that the $6.5m must all go to boosting stakes, or be returned to the NZRB. It can't be used to offset other losses or anything else as I understand it.

I sort of thought the same - however if the money is still in the bank from all the cancelled meetings then shouldn't there be more to distribute rather than less. I'll await an announcement from NZTR has to how they propose to distribute and how much.

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good on John Allen and the board for delivering quickly, and getting some changes made, you must give credit were credit is due!

I just hope the distribution isn't primarily at the top end as is dispersed somewhat evenly.  In particular from rating 65 to 85.  Good to see some action and a great starting point.

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I'd like to thank Tony Pike and the TA for finally flexing their muscles ( whilst combining with NZTR ) and reminding Hughes and John Allen who this industry actually belongs to & who they're ultimately accountable to, and in the process sending a decent shock wave through the NZRB offices.

Now you've seen what you can achieve Pikey I urge you to use the same tactics to remedy the various other racing matters that require urgent attention.

Might I suggest you start by getting on the phone and suggesting we get a top class NZ CE at NZTR, someone who has credibility and skin in the game, someone who can unite the industry rather than the recycled Australian said to already have been told he's got the job, and who's rumoured to be an inside appointment by "Played and Missed" Jackson.

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10 hours ago, Leggy said:

The meeting may have forced their hand to back their judgement/strategies but is it sustainable, or will it all end in tears again like it did last time? The meeting asked them to spend money that they don't yet have and seemingly coerced them into parting with it. How sensible is that? Sure there's some risks says JA, but I'll be long gone by the time the wheels fall completely off.

Thats glass half empty stuff. What did John Cleese say about your neck of the woods?

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It's amazing what a lot of noise can do.  So well done to Pike and other leading industry representatives.  Also well done to a lot of noise makers on the racecafe site.  Make no mistake about this site is read consistently by NZracing. 

The Jan crisis meeting before magic millions main objective was to stop the tab and Paddy Power FO betting platform until all other avenues were investigated.  Particularly the one where VICTAB was going to give NZracing money to work with them as opposed to the Paddy Power deal.  However it appears that this was not able to be done as we were too far down the Paddy Power road.

As I have said before this is very good news, but it has to be the start of the journey not the end.  We must ensure we are not eating into reserves.

So let's keep moving forward:

  • Get this new FO betting platform up and running asap.  Reduce future leakage and try and get a few customers back.  I will come back :-)
  • Make hard decisions about the future of some racing clubs.  We can't keep having abandoned meetings if we are trying to beam our product to the world.
  • Find a surface that we can race on weekly
  • Costs to be managed at head office
  • Get our rating system sorted

I look forward to my horse being in work now :-)

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