New Zealand Thoroughbred Racing chairman Alan Jackson announced a $3million-per-season funding boost for the galloping code on Thursday, a result of which minimum race stakes will be set at $10,000.
Harness Racing New Zealand chief executive Edward Rennell said yesterday he was ``reasonably confident'' the trotting code could see its own minium stake increase by the start of the new racing season in August.
``We are in a similar position to the thoroughbreds. We would like to increase our minimum stakes.''
The harness code was not in a position to announce any funding changes until it was certain of funding it will receive for the next season. The signs were positive that funding would be boosted, so stakes could be raised, Rennell said.
``The feedback we are getting from the [New Zealand] Racing Board is reasonably optimistic, so we could be confident with an increase in their funding from next season, we will lift minimum stakes.''
It would just be ``a matter of by how much''.
If extra money was available for the trotting code it would be directed at low-end race stakes rather than high-class races or other projects.
``The key message from us is any additional money we get we will be directing at the bottom end.''
Similarly to the thoroughbred code, harness racing officials hope there will be a major boost from the finalising of race fields legislation, which would result in more money bet through the TAB.
Lifting minimum stakes was ``heavily dependent'' on the finalisation of the legislation, Rennell said.
``We are hopeful with the race fields legislation - if that comes to pass, hopefully taking effect for next season - that there is a projected growth in income from the racing board.
``We are just waiting to get confirmation of what that level is, in terms of funding, and then will do our sums and make an announcement.''
As much as the racing codes hope the race fields legislation is finalised quickly, even the broadest prediction on when that may be is difficult to make, given little official progress has been made in Parliament.
``This is a complex piece of work but I am confident we will introduce a Bill to the House in the near future,'' Minister for Racing Nathan Guy said.
``My main priority as minister is progressing the race fields legislation which tackles the issue of offshore betting companies using New Zealand racing information without returning anything.''
Rennell and the handicapping department of Harness Racing New Zealand have recently completed a series of meetings outlining a new ratings-based handicapping system for the code.
``Obviously the rating system will complement whatever funding system we have in place,'' Rennell said.
The system had been generally well received with only ``one or two'' people speaking strongly against it.
``Obviously it is not an easy system to try and pick up in an hour and a-half, but everyone seemed to comprehend what we are trying to do.''
- Jonny Turner
