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Reduction in Prizemoney
Prizemoney Stripped from The Championship Races
Racing NSW has announced a major reduction in prizemoney for The Championships less than a week out from the opening day at Randwick. More than $9 million in prizemoney will be stripped from the feature races of the two day Championships. Racing NSW indicated that a reduction in wagering, due to the current lockdown of pubs and TAB venues, was the cause of the reduction.
Other sources of funding for prize money, on-course attendances and sponsorship, have also been severely impacted given the public is not allowed to attend race meetings. Racing NSW has a Future Fund to enable the NSW Racing Industry to continue in the face of such challenges but says it is important to maintain those cash reserves for as long as possible given the uncertainty of the situation.
The Queen Elizabeth Stakes was the biggest hit with $2 million stripped from the prize pool while the Doncaster Mile has had a $1.5 million reduction.
Source: Just Horse Racing | April 2020