Friday, September 24, 2010
NEW MINIMUM PRIZE-MONEY TARIFF 'FUNDAMENTAL TO COMMERCIAL STABILITY OF INDUSTRY' SAY HORSEMEN'S GROUP
While the Horsemen's Group has made very significant progress with racecourses on prize-money agreements for 2011, the level at which next year's minimum prize-money values are to be set continues to be work in progress.
"The Horsemen's Group will adhere to the BHA's existing minimum values only for the first quarter of next year," said Alan Morcombe, Chief Executive of the Horsemen's Group.
"The Horsemen's Group have produced their own minimum prize-money tariff which sets values higher than the current BHA's minimum values. Further work needs to be done before we implement this tariff next April.
"We recognise the need to set minimum prize-money at appropriate levels to ensure that winning connections are rewarded adequately, but we must also ensure the race programme is protected so there are adequate races in each race class to cater for the whole range of ability in the horse population. While racecourses should not be tempted to 'dumb down' their programmes merely to meet stipulated minimum prize-money levels, the Horsemen's Group cannot lower its aspirations in this crucial area.
"At a time when the collapse in the Levy will have a devastating effect on prize-money, the stance taken by the Horsemen's Group over minimum prize money levels is fundamental to the commercial stability of the industry.
"We will continue to talk to the RCA and individual racecourses assessing their ability to meet the levels of our new tariff. We will also ensure that our members are widely consulted."
For old articles (from 1st March 2000) go to the Newslink