Stables 577 Report post Posted January 24, 2019 I believe the Government should immediately Nationalise the whole of the racing industry, i.e. all club tracks and facilities, all 3 Racing governing bodies, the Racing Board and the TAB. Run it as a Government Corporation under the control of one organization for a period of up to 5 years. This would enable the the new corporation to cut out all the dead wood, combine all administrative functions and close down all unprofitable race courses. After the period of 5 years the Corporation should be put on the market and sold to the highest bidder. The sale contract would guarantee a level of return to the racing industry, for stakes, of a guaranteed percentage of turnover. A minimum level of return would also be set, which would be adjusted for inflation. The proceeds of the sale would be invested and the annual interest or profit from these investments would be made available to the racing industry for an additional boost to stakes. There would be no government tax on the turnover, any tax paid would be on the final profit (or loss) of the company that purchases the industry. All stakes would be distributed to each code on an agreed and set percentage which would be reviewed every 3 years Quote Share this post Link to post Share on other sites More sharing options...
crustyngrizzly 1,683 Report post Posted January 24, 2019 I think that the way nz Racing is heading and with the and the power and influence that some studs and some individuals have,there is more chance of Racing being controlled by private enterprise than nationalisation. Not saying nationalisation or private enterprise is good/bad just putting my thoughts into print. Of course the situation is not helped by having seemingly weak and impotent leadership in some ares of nz racing. Quote Share this post Link to post Share on other sites More sharing options...
eljay 1,711 Report post Posted January 24, 2019 We all know how magnificent the Government are at running things - just look at Phil the Dills Pie in the Sky housing management! Stables- they should do exactly the opposite. Let each code be the boss of and run their own codes how they want to, not how they are told to. Governing bodies answerable to their stakeholders, not a bunch of Pierrots getting paid millions to do and know nothing. TAB would be just that - run the totes and not run the people. And I never can understand who the Racing Board are and what they do. Oh shit - I just woke up, but it was lovely in Paradise! john legend 1 Quote Share this post Link to post Share on other sites More sharing options...
We're Doomed 4,824 Report post Posted January 25, 2019 A rather simplistic idea. How do you define unprofitable racecourses? Quote Share this post Link to post Share on other sites More sharing options...
Stables 577 Report post Posted January 25, 2019 The Government wouldn't be running anything. It would be set up as a Corporation exactly the same as Telecom, NZ post and NZ Rail. The management structure would be independent of government and their sole purpose would be to restructure racing to increase its profitability and efficiency with a view to preparing the industry for sale to private enterprise. It may even eventually be listed on the stock market. The potential for racing would be enormous as it would get rid of all the committees and poor management structures, not to mention all the unprofitable racetracks. The income from its sale would boost stakes immensely and the profitability and removal of taxation on turnover would release funds for massive improvements in facilities. Racing would once again become an attractive entertainment option. Quote Share this post Link to post Share on other sites More sharing options...
Stables 577 Report post Posted January 25, 2019 What a simple question. Those that were incapable of making a profit. Quote Share this post Link to post Share on other sites More sharing options...
eljay 1,711 Report post Posted January 25, 2019 To my knowledge there are two forms of racecourses. Those wholly owned (in many cases freehold) by the club or clubs jointly or those owned by local governments. How the bloody hell can the Government or their appointed coporations sell these properties or take over the assets.. Some clubs may sell them to get them out of the mire like Paeroa did but can you really see these bodies giving them away for free - come on be realistic. This is New Zealand not the Socialist Republic of Fools! john legend 1 Quote Share this post Link to post Share on other sites More sharing options...
Rusty 575 Report post Posted January 25, 2019 3 minutes ago, eljay said: How the bloody hell can the Government or their appointed coporations sell these properties or take over the assets.. Some clubs may sell them to get them out of the mire like Paeroa did but can you really see these bodies giving them away for free - come on be realistic. This is New Zealand not the Socialist Republic of Fools! Now I am starting to understand how the Aborigines feel.... It's the constitution, it's Mabo, it's justice, it's the law, it's the vibe and that's it, it's just the vibe of the thing. dkc 1 Quote Share this post Link to post Share on other sites More sharing options...
We're Doomed 4,824 Report post Posted January 25, 2019 9 hours ago, Stables said: What a simple question. Those that were incapable of making a profit. Would you care to list off the top of your head which ones you suspect they may be? Quote Share this post Link to post Share on other sites More sharing options...
Stables 577 Report post Posted January 25, 2019 Are you saying tat the current system is working well?Obviously it isn't hence the Messara report. By a simple act of parliament under both proposals ownership of any and all race courses can be transferred to central or public ownership. Quote Share this post Link to post Share on other sites More sharing options...
We're Doomed 4,824 Report post Posted January 25, 2019 I was purely interested in knowing which clubs/tracks you thought might be the ones that can't run at a profit without being subsidised, taking into account stakes etc. I'm thinking they might also be the ones you would get the most money from if you sold all of their assets; which sounds like a win win situation to me. Quote Share this post Link to post Share on other sites More sharing options...
Chris Wood 1,545 Report post Posted January 25, 2019 Paeroa didn’t really get out. There would still be a Paeroa Racing Club if they had amalgamated with TeAroha as was the idea given to them, but they were to parochial like most clubs, and that is why they are no longer. Hopefully some other clubs follow suit, but I won’t hold my breath. I am not in favour of selling assets off if all the money is going to be put into a large fund governed by our board, as their financial stats don’t quite stack up. Fartoomuch 1 Quote Share this post Link to post Share on other sites More sharing options...
Stables 577 Report post Posted January 26, 2019 I would say virtually every track in the country with the exception perhaps of Ellerslie, Alexandra Park, Addington and perhaps Invercargill Quote Share this post Link to post Share on other sites More sharing options...
eljay 1,711 Report post Posted January 26, 2019 7 hours ago, Stables said: Are you saying tat the current system is working well?Obviously it isn't hence the Messara report. By a simple act of parliament under both proposals ownership of any and all race courses can be transferred to central or public ownership. Have you asked the New Plymouth council? Pukekura Raceway part of Pukekura Park given over free. Ha bloody ha! Quote Share this post Link to post Share on other sites More sharing options...
Stables 577 Report post Posted January 26, 2019 What an absurd post Quote Share this post Link to post Share on other sites More sharing options...
eljay 1,711 Report post Posted January 26, 2019 What a bloody absurd suggestion Quote Share this post Link to post Share on other sites More sharing options...
Fartoomuch 1,376 Report post Posted January 27, 2019 I suggest everyone reads the MAC terms of reference Quote Share this post Link to post Share on other sites More sharing options...
Stables 577 Report post Posted January 27, 2019 Exactly my point. Under the Messara report, what is being recommended is in fact a nationalisation of the racing industry hedley 1 Quote Share this post Link to post Share on other sites More sharing options...
Stables 577 Report post Posted May 2, 2020 On 1/25/2019 at 11:25 AM, Stables said: I believe the Government should immediately Nationalise the whole of the racing industry, i.e. all club tracks and facilities, all 3 Racing governing bodies, the Racing Board and the TAB. Run it as a Government Corporation under the control of one organization for a period of up to 5 years. This would enable the the new corporation to cut out all the dead wood, combine all administrative functions and close down all unprofitable race courses. After the period of 5 years the Corporation should be put on the market and sold to the highest bidder. The sale contract would guarantee a level of return to the racing industry, for stakes, of a guaranteed percentage of turnover. A minimum level of return would also be set, which would be adjusted for inflation. The proceeds of the sale would be invested and the annual interest or profit from these investments would be made available to the racing industry for an additional boost to stakes. There would be no government tax on the turnover, any tax paid would be on the final profit (or loss) of the company that purchases the industry. All stakes would be distributed to each code on an agreed and set percentage which would be reviewed every 3 years Quote Share this post Link to post Share on other sites More sharing options...