The New Zealand Metropolitan Trotting Club (NZMTC) is delighted to report that its latest projections have it on target to pay-out a total of $7.2 million in stakes and bonuses for the 2013-14 racing season.
This forecasted pay-out is an increase of 12% on the 2012-13 season and an increase of 16% or $1 million on the $6.2 million paid out for the 2011-12 season.
The increases have been distributed across the grades for both pacers and trotters by way of new initiatives and general stakes growth introduced over the last two years.
These initiatives include “The Met Multiplier” that has paid out $195,000 to date and the popular “Super Series” format for lower grade horses that by season’s end will have seen over $300,000 distributed to connections. The new Breeders Bonus Scheme introduced in January 2014 has contributed to the increase and a significant sum of approximately $100,000 has also been injected to uplift minimum stake levels this season.
There have also been increases in some iconic races including the Christchurch Casino New Zealand Trotting Cup from $600,000 to $650,000, the Muscara Standardbreds New Zealand Derby from $150,000 to $175,000, the Canterbury Breeders New Zealand Oaks from $100,000 to $125,000 and the Woodlands New Zealand Free-For-All from $150,000 to $200,000.
Brent Smith, Deputy Chairman of the Met commented as follows, “The increase in stakes and bonuses over the last two years is an important part of the Met’s five-year Strategic Plan where the club is determined to maximise long term sustainable returns to stakeholders through an efficient and innovative stake and bonus distribution model. It was important to come up with a model for distribution to stakeholders that was sustainable and fair and that rewarded owners and trainers and encouraged connections to race their horses at Addington.”
“These increases have also been possible through the Met achieving three consecutive years of operating surpluses” said Smith.
The Met is projecting to pay almost 100% of Harness Racing New Zealand funding into stakes and bonuses in the 2013/14 season.
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