Reply With QuoteHOLY COW BATMAN it is much worse than I realized
I have just been informed that recent legislation brought in, means that if statutory authorities like HRV sell an asset like the Melton land - the government gets the money!
Like Victoria, HRV are really, really broke
No mention of closing tracks yet (we have a thread on the rumour that we are going back to 11 tracks)
But admin is cutting another $6m on top of last yrs $6m
TrotsVision in the gun - it is too good compared to everybody else, including the gallops, so how could WE afford it! (unless we were making gains from it)
https://www.thetrots.com.au/news/art...0rQ7oAhJdP1l2D
Proposed cost-cutting measures include:
A reduction in staff and associated structural efficiencies
Costs associated with marketing and media activities, including on TrotsVision, where coverage of country cups and Saturday night broadcasts will be reduced
The Gordon Rothacker Medal industry awards night, which will be a scaled back celebration
per un PUGNO di DOLLARI
HOLY COW BATMAN it is much worse than I realized
I have just been informed that recent legislation brought in, means that if statutory authorities like HRV sell an asset like the Melton land - the government gets the money!
per un PUGNO di DOLLARI
Seriously. I don't think Robin can help there. But I think batgirl could sort it out.
Imagine if HRNSW got nothing from the HP sale!
per un PUGNO di DOLLARI
They would be in the same boat I reckon.Originally Posted by Messenger
Hi Kevin, HRNSW got nothing from the sale of Harold Park. Harold Park was not owned by our governing body Harness Racing NSW, rather it was owned by the NSW Harness Racing Club, who also owned the Menangle track.
The NSW Harness Racing Club utilised some of the proceeds from the sale to refurbish Menangle into what it is today, and while they have supplemented prizemoney for some State races like the Waratah Series, they have retained the proceeds of the sale and invested it in various initiatives from which they benefit.
The prizemoney levels in NSW are the result of revenues from the TAB, corporate bookmakers, point of consumption tax, and TAX parity which brought us in line with the same taxation levels levied by the Victorian government on your betting. I can't remember the exact figure, but we were taxed nearly twice as much as you were which resulted in a smaller return to our industry.
NSW is not where it is today because of the sale of Harold Park.
I should have been more specific
I have to disagree that harness racing is NSW is not in a strong position because of the sale of HP - it is a paying investment and money in the bank
per un PUGNO di DOLLARI
Yes, I would agree that NSW is in a stronger position as a result of the sale, but as I said, Harness Racing NSW did not own Harold Park.
NSW's stronger financial position was aided significantly by the repayment of monies paid to the NSW Harness Racing Club from the state industry's Racecourse Development Fund. The NSW Harness Racing Club was not compelled to pay back those monies but chose to do so in the interest to better the code in this State. The feature races conducted at Menangle would not be for the values they are today if it were not for the sale of Harold Park.
That said, this State's stronger financial position, its higher across the board prizemoney levels, has come about because in addition to the Harold Park sale, we have had strong revenues from the TAB, corporate bookmakers, point of consumption tax, and TAX parity as mentioned previously. The sale of Harold Park is one of a number of improved elements that have benefitted NSW.
I guess we simply disagree on how important these two are to the health of harness racing in NSW
per un PUGNO di DOLLARI
Hi Mark . When we were participants , the Authority promised huge increases in prize money to get the sale of Harold Park through without too many objections . That's why I and everyone else , that I know, connected it's sale with prize money . If you are right , then what happens to all that doe if harness racing goes bust . What you're saying is that the NSW Harness Racing Club is another entity altogether and can survive and thrive without harness racing . I remember that a story went around that the NSWHRC had bought a property near the Sydney Harbor Bridge that cost , from memory , $50 odd million , but that could be just a story , but it does make you think .
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