Jockey Club invests in lowering horse ownership costs
Officials strive to generate interest among prospective buyers during ballot application period
The Jockey Club will invest HK$140 million in lowering the cost of racing a horse in Hong Kong next season as it makes a concerted effort to stimulate interest among prospective owners.
The measures come in the middle of the application period for this year’s ownership ballot as the Jockey Club strives to bolster its horse population at a time when betting turnover is suffering a significant downturn.
“Livery fees paid by owners are the mechanism for covering the direct costs of the stable and other staff who are responsible for the stabling and training of horses,” the club said in a statement yesterday.
“Recognising the current difficult general economic conditions which face owners, the club has decided to absorb a substantial portion of these costs on behalf of owners.”
For next season and beyond, monthly livery fees for horses in training will be cut from HK$38,200 to HK$30,000, representing an annual reduction of HK$98,400 per horse.
On top of that, “during the first four months after the arrival of a new horse import, the basic monthly livery fee will be further reduced by HK$5,000 to HK$25,000. This will represent a 35 per cent reduction in livery fees for new imports compared with current charges”.
Owners will also receive an additional HK$50,000 towards the cost of rehoming their retired horses on top of the existing travel subsidy of “up to HK$100,000”.
“The investment that owners make in buying high-quality horses is the bedrock of the club’s world-class racing,” Jockey Club executive director of racing Andrew Harding said.
“We recognise that at the moment owners face the twin pressures of strong competition in sourcing the best available horses to race in Hong Kong and the impact of the currently challenging global economic conditions.
“In these circumstances we have developed a package of measures designed to significantly reduce the costs that owners pay to keep their horses in training, as well as the cost that is incurred when they retire a horse.
“These measures complement the action taken by the club over the past decade to invest in prize money to reward owners’ investment.
“Over the past decade, prize money has been increased nearly 100 per cent with prize money and incentives schemes totalling an estimated HK$1.73 billion on offer for the 2023-24 racing season.”
On average, the current monthly cost of having a horse in training is north of HK$61,000, with fees ballooning to over HK$70,000 with some handlers.
Take two for Rebel’s Romance
While Godolphin entered four horses for last year’s Group One Champions & Chater Cup (2,400m) but did not have a runner, trainer Charlie Appleby appears to be more serious about bringing Rebel’s Romance for next month’s running of the HK$13 million feature. One of the four gallopers entered by the Blue Army in 2023, Rebel’s Romance has since cleaned up Russian Emperor in Qatar’s H.H. The Amir Trophy (2,400m) and produced a sparkling victory in the Group One Dubai Sheema Classic (2,400m) late last month.
“He shipped back to Newmarket a couple of days ago, he shipped back well, and I think we’re going to stick to plan A and probably head to Hong Kong for the Champions & Chater there,” Appleby told Sky Sports. “It’s a programme we put in place before the Sheema Classic. We know he enjoys his travelling, as long as he’s travelling in and out within a certain period, but more importantly, he loves those style of tracks and that style of racing. So that’s our plan, to go to the Champions & Chater.”
With Romantic Warrior likely heading to Japan for the Group One Yasuda Kinen (1,600m) in June, Russian Emperor and Straight Arron look to be the stiffest local opposition standing in Rebel’s Romance’s way should he line up at Sha Tin on May 26.