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  • NZTR Adds $500,000 Club Innovation Fund

    Tuesday, 6th July 2021

    In addition to a major boost to New Zealand purses (see above), a key feature of the stakes increase policy is the creation of a $500,000 innovation fund for clubs. “There are lots of good ideas out there and we see this as an opportunity to incentivise innovation by clubs. We encourage them to apply to the fund to further improve their race meeting performance,” NZTR chief executive Cameron George said. NZTR has also prioritised an infrastructure fund which will promote much needed investment in vital components in the delivery of a safe, marketable, and modern racing footprint. “We thank TAB NZ for their ongoing diligence in ensuring we receive the best return on an ongoing basis. Our relationship is key, and Dean McKenzie and his Board have led from the front, and we look forward to building on this year’s results to enable an exciting and creative future,” George said. TAB NZ has forecast total revenue of $170 million for the period 1 August 2021 to 31 July 2022 to be distributed to the three codes – thoroughbred, harness and greyhounds. An important note is that all numbers are forecasts subject to actual trading performance and are reviewed quarterly by TAB NZ. The new funding process was introduced under the new Racing Industry Act of 2020.