Are HRV broke?

[trish]

Once again, I was thinking how embarrassing it is that we have a Gp3 race tonight worth only $30k when I realized it is 99% likely it will be worth less next year

I was wondering how many in Vic are looking at land prices in & around Menangle

[Messenger]

It would make a LOT (pun intended ) of sense Trish. Some in the Melton region would probably get a good price for their properties as it is a growth corridor

[trish]

It would make a LOT (pun intended ) of sense Trish. Some in the Melton region would probably get a good price for their properties as it is a growth corridor

Just having a look at acres around Menangle & they start around 2 & 1/2 mil. Some under offer at 4 mil.
So they would have to get that sort of money to get a look in up here.

[ryantics]

If those cuts are absolute then it makes harness racing in Victoria nonviable for every professional stable.
Only hobby trainers can work with that, it's just a disaster. Complete mismanagement.

[Messenger]

Steve, the participant bodies accepted them and they will come in a month from today
They thought they had a win having no reduction to $4,500 races.
You cannot tell me that absolutely anybody could have found another $5m to trim from admin if the participant bodies had simply said NO
Without some really good ideas the downward spiral will continue for I see the prizemoney cuts costing them owners and so they may have to cut again sooner than they think

[Messenger]

From HBV Harness Breeders Victoria

From the President's Desk...

The last few weeks have been tumultuous to say the least. HRV announced $10M of cost reductions with $3.9M of prizemoney cuts. Any prizemoney cuts are distressing for the industry. HBV was consulted by HRV and we made submissions relating to the protection of mares and juvenile racing. These submissions were listened to with reductions to cuts for some races for these cohorts which are important to our members.

HRV have made the majority of the cuts to feature races (50%) with 25% each to come from metro and then country stakes. Given country races make up the vast majority of the racing, the cuts per race to rank and file racing has been minimised.

I attended a meeting with the Minister for Racing along with the other kindred bodies in mid-August. The kindred bodies voiced their concerns with where the industry was heading. The Minister stated that he wanted to meet regularly with the kindred bodies.



The last sentence is very important IMO. Let's hope that not only the Minister but also HRV's CEO and Chairman meet them monthly

[Messenger]

It seems weird that with the prizemoney cuts starting in 3 weeks, a meeting like Kilmore on a Sunday night has 3 x $10k, 4 x $8k and 2 x $4.5k
I assume the club or sponsors are taking their pool up to $71k for the meet.

https://www.harness.org.au/racing/fi...s/?mc=KI100923

[Messenger]

Reductions to prizemoney on Oct 1 may look like a real contrast in comparison to the way that Vic seems to be throwing money around at present.
Take the little meeting at Geelong tonight
Taking $7k to be the usual stake, we see 2 of the 9 races for that amount and only one $4,500 race, then we see 4 races for $8k and 2 races for $10k (one of these is a Platinum Maiden trot so it may have been part of the series)

https://www.harness.org.au/racing/fi...s/?mc=GE270923

[Messenger]

Not many reduced prizemoney races seen so far - the odd $6k races here and there, a couple of $17.5k races at Melton this Saturday

[Messenger]

I notice a couple of races at Melton on Saturday night are for $15,000
If the following is still the ratings system, I reckon they would rather be racing for $14,999

https://www.harness.org.au/racing/fi...s/?mc=MX281023