$10m hit to Randwick prizemoney
PRIZEMONEY for The Championships has been slashed by nearly $10 million as Racing NSW and Australian Turf Club respond to the coronavirus pandemic.
The 10 feature races over the next two Saturdays at Randwick have had prizemoney reduced by 50 per cent.
The financial savings will help maintain minimum race prizemoney to benefit all sectors of racing if the industry is forced to shut down.
“We are trying to protect the racing industry as a whole,’’ Racing NSW chief executive Peter V’landys said.
“This decision is made to ensure we have enough funds to keep the industry viable if there is a complete shutdown.
“One of the objectives is to have enough money to keep the horses in work through this period if there is a shutdown.’’
Although the threat of a Government-imposed lockdown looms large, Sydney’s autumn carnival will continue with Day One of The Championships on Saturday.
The Group 1 Doncaster Mile prizemoney has been cut from $3 million to $1.5 million, the TJ Smith Stakes from $2.5 million to $1.25 million, the ATC Australian Derby from $2 million to $1 million and the Inglis Sires halved to $500,000. The Country Championships Final is now $400,000, down $100,000.
Changes for Day Two of The Championships on April 11 have the Queen Elizabeth Stakes prizemoney of $2 million (down $4 million), the Sydney Cup has been halved to $1 million, the ATC Australian Oaks, Coolmore Legacy Stakes and Percy Sykes Stakes are now worth $500,000 and the Provincial Championships Final is at $400,000.