News

Aust Clubs Plan Major 3YO Gr1 Prizes Boost

29th Jan 2009

Breeding and Racing - Thursday, 29 January 2009

Victoria Racing Club chief executive Dale Monteith confirmed last night that a new concept is currently being planned by a number of Australia's major race clubs with the aim of boosting prize-money for 3YO Gr1 races across Australia. Effectively tapping into funding derived wholly & directly from the owners of commercial thoroughbred stallions standing in Australia & New Zealand from the 2009 breeding season onwards, the mooted idea would potentially "add as much as 70% to the prize-money currently in place for 10 Gr1 events under the banner of Thoroughbred Classics Australia".

Although still at discussion stage (but with a plan to start in 2009), the concept would see owners of Australian-based stallions standing for more than $4,500 (excluding GST) required to pay A$15,000 per stallion per season.

Monies generated in Spring 2009 would be invested for 4 years & then (with bank interest added on) be distributed across a number of Australian Gr1 races for 3YOs in the 2013-14 racing season (on a pro-rata basis according to the budgeted prize-money value for each race against the total value of the races under the TCA Series brand). With up to $4.5 million per season to be added to the aggregate prize pool available for the series (in the event of 100% commercial stallion participation), Monteith noted preliminary discussions with some of Australia's leading stud farms had been "cautious".

Although there is in-principle interest in the concept, Monteith acknowledged some race clubs were still sitting on the fence with a "wait & see attitude". While broodmare owners & foal/yearling owners would not be charged any fees should the concept proceed, "commercial stallions" not nominated to the scheme would result in their progeny being ineligible for the 10 "Classic" Gr1 events.

Racehorses whose sires stand for under A$4,500 (excluding GST) in the year they are conceived would all be eligible, as no nomination is required in their case & they would automatically be qualified as a "TCA Approved Sire". The "non-commercial" cut-off for NZ-based stallions would be NZ$5,500 (excluding GST). Thoroughbred Classics Australia will also present major clubs with "a significant branding & promotional opportunity for their Classic races" under a national umbrella, leading to the possibility of "aggregated value in the area of sponsorship" (for the series & races individually). There would be no impact on 3YO fillies races, which would not be part of the TCA schedule. Stay tuned!