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NZTR announces stake increases

New Zealand Thoroughbred Racing (NZTR) has announced prize money increases from January 1, 2014.

Minimum stakes for all races at the country's top five meetings, to be known as Iconic meetings, will be increased to $40,000 per race. They are Wellington Cup day, New Zealand Derby day, Spring Classic day, New Zealand Cup day and Boxing Day at Ellerslie.

In addition, minimum prize money for all races at a further 15 Premier meetings, to be titled 'Premier 1' meetings, will be increased to $30,000. Twenty-two current Premier meetings, titled 'Premier 2' meetings will be unchanged with minimum prize money at $20,000. Five Premier meetings will revert to Feature status.

From January 1, 2014 minimum prize money for all Group Two races will rise from $85,000 to $100,000 and consistent with these top-end increases, minimum prize money for Feature Rating 75 and Rating 85 races will lift from $15,000 to $17,500.

Minimum prize money for Feature Rating 65 races will lift from $12,500 to $15,000. These Rating 65-85 increases will be part-funded by Feature maiden races being lowered to $10,000 (from $12,500).

Special interest funding, including matched prize money funding for race clubs, will increase from $100,000 to $300,000.

"Since 2011, when our prize-money bottomed, we have put in place a programme to consistently and sustainably increase prize-money each year," NZTR Board chairman Matthew Goodson said. "This has been enabled by the improving results of the Racing Board."


- NZ Racing Desk