RaceCafe..#1...Tipsters Thread.... Share Your Fancies For Fun...Lets See Who The Best Tipsters Here Are.
Tony

So I guess NZTR will write off 1.7 Million Bad Debt

Recommended Posts

After the 3.8 million bungle by the TAB I guess that NZTR will now write off the 1.7 million owed to them for Nominations and Acceptences. Just put it down to Covid19. At the Central Districts Owners Association AGM held in November the new President Bernard Hickey spoke of how he has been trying to get NZTR to go to a "Free Racing Model" due to the 1.7 million dollars of Nominations and acceptance fees that is owed to NZTR. A 1.7 million bad debt.Free racing would mean this kind of Debt would not be able to escalate to this degree. Bernard Hickey said that $750,000 of this is owed by Trainers.

Some might ask how has this been allowed to happen. Others might ask "who" has let this happen. It is the kind of thing that I couldn't see happening in a private enterprise. Where were the Board Of Directors, CEO and Senior Managers. Why weren't the Rottweilers put on attack. It must be big players that owe the money as the Rottweilers will persecute and destroy the minnows. (I mean persecute not prosecute. Some people would call it Bullying and intimidation)) while the big fish are left to go free.

So it looks like some people have had "free racing" over the past few years while the rest of us continued to pay. Bernard Saundry's plan to give us all Free Racing from July is just leveling the playing field.  

I understand that in the 70's fourteen people were employed at NZTR. Now with modern Technology there are 40. It's little wonder that the residents at 106-110 Jackson St, Petone have in the past been running around trying to invent projects to justify their job. Will they continue to create new animal and people welfare projects. But this is a story for another day. 

  

Share this post


Link to post
Share on other sites

Many have been calling for free racing for years but it falls on deaf ears till now. The current Clayton's model is the emperor's new clothes approach to racing, the key especially now is to increase(im dreaming I know) participation well at least try to maintain it as much as possible and strategies should have been put in place to achieve this year's ago, same goes with breeding horses plenty of talk on a diminishing foal crops but no initiatives to attempt to rectify this just kick the can down the road and I'll be gone by the time the s**t hits the fan approach. 

One big problem in nzracing is some people have too much input into the direction it takes and they have a very insular view,those same people will be asked to direct the ship through the next storm no doubt. 

Share this post


Link to post
Share on other sites

1 hour ago, Tony said:

After the 3.8 million bungle by the TAB I guess that NZTR will now write off the 1.7 million owed to them for Nominations and Acceptences. Just put it down to Covid19. At the Central Districts Owners Association AGM held in November the new President Bernard Hickey spoke of how he has been trying to get NZTR to go to a "Free Racing Model" due to the 1.7 million dollars of Nominations and acceptance fees that is owed to NZTR. A 1.7 million bad debt.Free racing would mean this kind of Debt would not be able to escalate to this degree. Bernard Hickey said that $750,000 of this is owed by Trainers.

Some might ask how has this been allowed to happen. Others might ask "who" has let this happen. It is the kind of thing that I couldn't see happening in a private enterprise. Where were the Board Of Directors, CEO and Senior Managers. Why weren't the Rottweilers put on attack. It must be big players that owe the money as the Rottweilers will persecute and destroy the minnows. (I mean persecute not prosecute. Some people would call it Bullying and intimidation)) while the big fish are left to go free.

So it looks like some people have had "free racing" over the past few years while the rest of us continued to pay. Bernard Saundry's plan to give us all Free Racing from July is just leveling the playing field.  

I understand that in the 70's fourteen people were employed at NZTR. Now with modern Technology there are 40. It's little wonder that the residents at 106-110 Jackson St, Petone have in the past been running around trying to invent projects to justify their job. Will they continue to create new animal and people welfare projects. But this is a story for another day. 

  

Wouldn’t be the trainers that are always nominating and excepting in four races with the 1 horse by any chance ?

Share this post


Link to post
Share on other sites

1 hour ago, Tony said:

After the 3.8 million bungle by the TAB I guess that NZTR will now write off the 1.7 million owed to them for Nominations and Acceptences. Just put it down to Covid19. At the Central Districts Owners Association AGM held in November the new President Bernard Hickey spoke of how he has been trying to get NZTR to go to a "Free Racing Model" due to the 1.7 million dollars of Nominations and acceptance fees that is owed to NZTR. A 1.7 million bad debt.Free racing would mean this kind of Debt would not be able to escalate to this degree. Bernard Hickey said that $750,000 of this is owed by Trainers.

Some might ask how has this been allowed to happen. Others might ask "who" has let this happen. It is the kind of thing that I couldn't see happening in a private enterprise. Where were the Board Of Directors, CEO and Senior Managers. Why weren't the Rottweilers put on attack. It must be big players that owe the money as the Rottweilers will persecute and destroy the minnows. (I mean persecute not prosecute. Some people would call it Bullying and intimidation)) while the big fish are left to go free.

So it looks like some people have had "free racing" over the past few years while the rest of us continued to pay. Bernard Saundry's plan to give us all Free Racing from July is just leveling the playing field.  

I understand that in the 70's fourteen people were employed at NZTR. Now with modern Technology there are 40. It's little wonder that the residents at 106-110 Jackson St, Petone have in the past been running around trying to invent projects to justify their job. Will they continue to create new animal and people welfare projects. But this is a story for another day. 

  

So 5.5 mill it's up to , 1.7 mill for noms . Anyone with real money in  game needs to lift the carpet a wee bit more . Name Regos, colours registrations all manner of fees must be charged , are they all paid . It's a mountain under the carpet it seems . Madness, it's like a crazy story this NZ Racing .

Share this post


Link to post
Share on other sites

12 hours ago, Red Rum said:

 Name Regos, colours registrations 

Those are both crazily over priced and complicated/time consuming along with change of ownership papers and so on... 

This modern age of computer it should be just a few clicks of a button and done with. I think the easiest way would be to register yourself as an owner then when you purchase the new horse check brands and then have a list of owners find your name and click the box on your name, if a syndicate then write in % per owner. I had an idea for a big syndicate but having to chase people around getting signatures ect just wasn't worth the effort. 

I see greyhound change of ownership is $20 and TBs are $120.... 

As for registration of colours ever 3 or 4 years, why? 

Share this post


Link to post
Share on other sites

45 minutes ago, Aaron Bidlake said:

Those are both crazily over priced and complicated/time consuming along with change of ownership papers and so on... 

This modern age of computer it should be just a few clicks of a button and done with. I think the easiest way would be to register yourself as an owner then when you purchase the new horse check brands and then have a list of owners find your name and click the box on your name, if a syndicate then write in % per owner. I had an idea for a big syndicate but having to chase people around getting signatures ect just wasn't worth the effort. 

I see greyhound change of ownership is $20 and TBs are $120.... 

As for registration of colours ever 3 or 4 years, why? 

20 bucks to 120 ,  that's obscene.  Some ticket clipping really needs to be reduced . As for syndicates I see the need for documentation , some syndicate manager fees do seem a little high imho , I have heard 10 per cent of a horse that's sold but could be mistaken . 10 per cent to syndicate manager in today's climate , yah nah .

Share this post


Link to post
Share on other sites

How about listing those that owe. I'm sure that would be an "eye opener".

The thoroughbred racing calendar use to list bad debtors - lets start again for the small player.

Sorry Napier. There will be no transparency. There will be no accountability. 98% of this debt belongs to racing's "Sacred Cows" These Sacred Cows are deemed "Essential to Racing" and are therefore protected. They will not be slaughtered on the arrears List.
The Arrears List under the rules of racing was for debt collection. Under the present administration it is allowed to be used like a Thumb Screw or possibly water boarding may be a closer description.  
Edited by Tony
Spelling mistake

Share this post


Link to post
Share on other sites

13 hours ago, Patiti said:

They used to publish defaulters in the monthly racing calendar.

Shouldn't they still be published perhaps on the NZTR web site.

There is a list of Arrears in the NZTR publications and it is at 11 November 2019, featuring amounts from a few hundred to few thousand.

These are historic,probably written off in accounts.

I think the amounts referred to here are the more recent amounts and these appear in the Accounts as debtors/receivables.

The notes ,as at year end 31 July , say that 90% of these are current.[ 30 days ]

They state there is a doubtful debts write off of $37764 ....[ $51228  in 2018 ].

Share this post


Link to post
Share on other sites

1 hour ago, Aaron Bidlake said:

Those are both crazily over priced and complicated/time consuming along with change of ownership papers and so on... 

This modern age of computer it should be just a few clicks of a button and done with. I think the easiest way would be to register yourself as an owner then when you purchase the new horse check brands and then have a list of owners find your name and click the box on your name, if a syndicate then write in % per owner. I had an idea for a big syndicate but having to chase people around getting signatures ect just wasn't worth the effort. 

I see greyhound change of ownership is $20 and TBs are $120.... 

As for registration of colours ever 3 or 4 years, why? 

Exactly, like mare returns kept time consuming and paper shuffling intensive so there is some justification in the charge, shouldn't cost more than $10 to do. 

Share this post


Link to post
Share on other sites

1 hour ago, Aaron Bidlake said:

Yes for sure, they just go to nztr website and register themselves then when they buy in to a new horse the syndicate manager clicks their name and enters their percentage. 

 

Great idea.   The current method is, as you say, very time consuming and clumsy.

Try explaining that a potential owner is overseas and can't be contacted to sign. 

Choice ?  Stuff around until he/she gets back, or within range of a printer/ scanner - or forge the bloody thing.

Just ridiculous in this technological age.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.