BLACK TYPE RACES WILL BENEFIT SIGNIFICANTLY FROM FUNDING BOOST
MOONEE Valley Racing Club will distribute a record $21 million in stakes this season – an increase of $2.5 million on 2008-09.
Black Type races that will benefit from the funding increases include:
· Dato Tan Chin Nam Stakes from $350,000 to $500,000.
· Sportingbet Manikato Stakes from $350,000 to $500,000.
· Pulse Pharmacy William Reid Stakes from $400,000 to $500,000.
This year’s Tatt’s Cox Plate remains at $3 million but the Club has guaranteed $100,000 to international runners that compete and do not finish in the first eight through the recently announced International Promotion Fund.
MVRC chairman, Bob Scarborough, said the increases would enable Moonee Valley to attract the highest calibre horses and provide a platform to elevate existing Black Type races and create new Black Type races for the club.
MVRC will commit $2.9 million of club generated funds over and above funding received from Racing Victoria toward prizemoney and trophies.
All Group 2 races at Moonee Valley will carry a minimum prizemoney level of $200,000 (up from $180,000) and all Group 3 races will increase from $125,000 to $150,000.
The MVRC has also enhanced its night racing model for the current season with 10 premium Valley night meetings programmed. At each of these meetings total prizemoney will be a minimum of $560,000 with two races of $100,000, two of $80,000 and four of $50,000.
The $500,000 G1 Sportingbet Manikato Stakes will highlight the launch of the 2009 night racing season on the eve of the AFL Grand Final on Friday, September 25.
“The ‘premium Valley nights’ strategy is expected to increase the quality of racing across the night racing season, increasing wagering turnover and attendances,” Mr Scarborough said. “The on-course crowd attendance will also be enhanced by themed entertainment and attractions.”
Key program changes for the 2009 Spring Racing Carnival have also been well received by owners and trainers.
The club has introduced a new $100,000 Open Sprint at set weights and penalties for Saturday’s Moonee Valley card to replace the McEwen Stakes, which has been transferred to the meeting on September 12 to support the G2 Dato Tan Chin Nam Stakes (formerly Feehan Stakes).
Moonee Valley will conduct 32 meetings in 2009-2010, with 18 of these to be conducted at night. Night prizemoney on offer will total more than $8.8 million.
The increase in the total prizemoney on offer at Moonee Valley ($21 million this season) is now more than 33 per cent since the 2006-2007 season when distributions were $15.75 million. Prizemoney increased to $16.57 million in 2007-2008 and $18.62mn in 2008-2009.
The MVRC is set to announce a profit of more than $1.3 million for the last financial year.
