RQ announces revised prizemoney structure

After extensive consultation with the Breeders, Owners, Trainers and Reinspersons Association (BOTRA) and key harness racing stakeholders, Racing Queensland has today announced a revised prizemoney structure for harness racing in Queensland which will be implemented from Tuesday, April 5, 2016.

The revised prizemoney structure will replace the proposed structure previously advised under the Tracking Towards Sustainability Plan.

Following ongoing negotiations with the industry in recent months, the new prizemoney structure has been developed with the intention to:

–       Retain adequate levels of prizemoney for standard weekly races;

–       Retain QBred bonuses to an appropriate level;

–       Enhance the status of The Blacks A Fake with a prizemoney increase of $25,000, taking the Group 1 feature to a total value of $150,000 as the headline act of the Queensland Winter Racing Carnival.

–       Recognise the importance of providing opportunities for restricted class horses with lower prizemoney races at Redcliffe on Thursdays

Racing Queensland Acting Chief Executive Officer Sam Adams said the revised prizemoney structure provided a positive outcome for all parties.

“It’s great that we have been able to reach an outcome that enables the industry to achieve the necessary savings, whilst also addressing the priorities of the harness racing community,’’ said Adams.

“Importantly, the retention of the QBred Scheme’s $1.4 Million in bonuses and feature race prizemoney provides the industry with confidence to breed, own and race standardbred horses in Queensland.”

Harness breeders representative Greg Mitchell said the revised structure provided the necessary balance of prizemoney that catered for both the top and lower ends of the industry.

“The revised prizemoney structure is imperative to continue servicing the bread ‘n’ butter participants and maintain overall involvement in our sport while we rejuvenate and rebuild for the future,’’ said Mitchell.

“It’s imperative that we keep the money trickling down to the bottom end and we have tried to cater for everyone within the constraints of the budget provided by RQ.

“The revised structure maintains a level of prizemoney midweek that we feel provides an opportunity for the hobbyist and professional to make a living out of the sport.

“We look forward to continuing to work with RQ on increased funds for the future through new initiatives that drive revenue for the industry.”

Adam Gardini