Barry Lichter 179 Report post Posted July 24, 2020 Harness racing owners and trainers in the north can rest easy - stakes will rise considerably from August 1. Auckland Trotting Club vice president Jamie MacKinnon tells how. https://www.lincolnfarms.co.nz/stories/owners-relieved-as-auckland-trotting-club-confirms-its-stakes-will-rise-in-the-new-season/ Quote Share this post Link to post Share on other sites More sharing options...
We're Doomed 4,855 Report post Posted July 25, 2020 Certainly a slow recovery. As they state their stakes are still higher than Addington. We have yet to see signs of the advantages of centralisation down there. Quote Share this post Link to post Share on other sites More sharing options...
Ohokaman 5,831 Report post Posted July 25, 2020 I’m sure owners will be delighted with this statement.... “We first wanted to make sure the minimum was high enough so the majority of owners can at least win a couple of months’ training fees.” Quote Share this post Link to post Share on other sites More sharing options...
tasman man 11 979 Report post Posted July 25, 2020 ATC obviously went on a 'Think Big' project with the Apartments when they saw Horse ownership dropping away with the sharply rising costs of Harness in the region. Considerably higher stakes into the future was seen as the answer. Most of the Board were very active owners/trainers/breeders. Also this has mean't the club has added to the HRNZ payout for stakes , one of a few clubs in NZ who did this. Galloping across NZ was 77%. About 70% stakes to payout seemed about the norm. Meanwhile NZ Met have been far more prudent ,protecting their nestegg. A quick glance of 2019 accounts showed approx $10mill of $13 mill received ,paid out in Stakes. NZ Met has good equity.....$83 mill....including $7mill cash. Investment buildings of $57 mill with $28 mill borrowings. They made about $860 k in the 2019 yr plus $1 mill Depreciation.....they pay $1 mill in Interest. The Racing side of their business needs these other revenue streams to survive and try and future proof the Industry. NZ met ,IMO ,could comfortably increase stakes ,but Harness Owners are very resilient and seem to accept the lousy returns ! Still plenty of horses in South ,especially in Canterbury. NZ Met financially prudent/ cautious. ATC......still talking tough but will need considerable income from Interests outside Racing ,plus a patient Bank manager and low Interest to survive ! Talk is one thing.....action ??????? Quote Share this post Link to post Share on other sites More sharing options...
Ohokaman 5,831 Report post Posted July 25, 2020 2 minutes ago, tasman man 11 said: ATC obviously went on a 'Think Big' project with the Apartments when they saw Horse ownership dropping away with the sharply rising costs of Harness in the region. Considerably higher stakes into the future was seen as the answer. Most of the Board were very active owners/trainers/breeders. Also this has mean't the club has added to the HRNZ payout for stakes , one of a few clubs in NZ who did this. Galloping across NZ was 77%. About 70% stakes to payout seemed about the norm. Meanwhile NZ Met have been far more prudent ,protecting their nestegg. A quick glance of 2019 accounts showed approx $10mill of $13 mill received ,paid out in Stakes. NZ Met has good equity.....$83 mill....including $7mill cash. Investment buildings of $57 mill with $28 mill borrowings. They made about $860 k in the 2019 yr plus $1 mill Depreciation.....they pay $1 mill in Interest. The Racing side of their business needs these other revenue streams to survive and try and future proof the Industry. NZ met ,IMO ,could comfortably increase stakes ,but Harness Owners are very resilient and seem to accept the lousy returns ! Still plenty of horses in South ,especially in Canterbury. NZ Met financially prudent/ cautious. ATC......still talking tough but will need considerable income from Interests outside Racing ,plus a patient Bank manager and low Interest to survive ! Talk is one thing.....action ??????? What’s the latest on the Earthquake payout down there TM...?? Seems to have taken an eternity to sort out and the delays are helping no one... Quote Share this post Link to post Share on other sites More sharing options...
tasman man 11 979 Report post Posted July 26, 2020 3 hours ago, Ohokaman said: What’s the latest on the Earthquake payout down there TM...?? Seems to have taken an eternity to sort out and the delays are helping no one... Sorry , I'm not even close to what happens at NZ Met and how they operate. Just commenting on a glance at their 2019 accounts .....looked at many on-line during lockdown. Always many questions re stakes.....sadly with Harness betting on steady decline they can only be maintained if Clubs get revenue from other sources...not easy ! Quote Share this post Link to post Share on other sites More sharing options...
Taku Umanga 194 Report post Posted July 26, 2020 5 hours ago, tasman man 11 said: Talk is one thing.....action ??????? Yep - they've talked up their stakes plenty of times and had to back down just as many. Quote Share this post Link to post Share on other sites More sharing options...
lamour 673 Report post Posted July 26, 2020 6 hours ago, Ohokaman said: What’s the latest on the Earthquake payout down there TM...?? Seems to have taken an eternity to sort out and the delays are helping no one... They got a $13mil payout for the public stand 4 or 5 years ago. I believe a significant portion of that has been spent bringing the main stand up to code. As far as I know there are no outstanding claims. Quote Share this post Link to post Share on other sites More sharing options...
lamour 673 Report post Posted July 26, 2020 6 hours ago, tasman man 11 said: ATC obviously went on a 'Think Big' project with the Apartments when they saw Horse ownership dropping away with the sharply rising costs of Harness in the region. Considerably higher stakes into the future was seen as the answer. Most of the Board were very active owners/trainers/breeders. Also this has mean't the club has added to the HRNZ payout for stakes , one of a few clubs in NZ who did this. Galloping across NZ was 77%. About 70% stakes to payout seemed about the norm. Meanwhile NZ Met have been far more prudent ,protecting their nestegg. A quick glance of 2019 accounts showed approx $10mill of $13 mill received ,paid out in Stakes. NZ Met has good equity.....$83 mill....including $7mill cash. Investment buildings of $57 mill with $28 mill borrowings. They made about $860 k in the 2019 yr plus $1 mill Depreciation.....they pay $1 mill in Interest. The Racing side of their business needs these other revenue streams to survive and try and future proof the Industry. NZ met ,IMO ,could comfortably increase stakes ,but Harness Owners are very resilient and seem to accept the lousy returns ! Still plenty of horses in South ,especially in Canterbury. NZ Met financially prudent/ cautious. ATC......still talking tough but will need considerable income from Interests outside Racing ,plus a patient Bank manager and low Interest to survive ! Talk is one thing.....action ??????? I spoke to the Chairman of the Met about a year ago and I’m pretty sure he told me they were paying down their loans quicker than they were required to by the bank. I could be wrong but I think it was in the order of $100k per month. You would hope if that is the case there is room for significant stakes increases in the future. Quote Share this post Link to post Share on other sites More sharing options...
