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Revised Prize Money & Breeding Sustainability Package

Revised Prize Money & Breeding Sustainability Package

Following the valuable feedback received from the ICG, Clubs, GOTBA and other stakeholders on options for distributing additional prize money, GRV has revised its proposal to provide for a more equitable distribution of the increased prize money and additional funds to stimulate breeding with the new package comprising of:

  • $2.55M p.a. to be added to minimum prize money; and
  • 1.40M p.a. in new prize money and bonuses available to be shared between owners and breeders of VicBred greyhounds in a new Sustainable Breeding Package

The original proposal to increase trainers’ starters fees to $80 per runner has now been removed from the package. The new prize money proposal will mean Travel & Starters’ Fees remain at their current levels of $70 per trainer plus $10 per starter at all meetings. Two prize money package options are now under consideration which focus directly on increasing prize money to be shared between owners and trainers at the lower levels of racing.

The increases are to be implemented from 1 November 2017. All Vic Bred greyhounds of all ages will be eligible immediately for the Breeding Package with no nomination fees payable to be eligible.

Prize Money Package Options

Two prize money options are under consideration, each worth an extra $2.55M annually in additional prize money, whilst maintaining Metro Level 1 prize money at current levels as follows:

Option 1 - Increase bottom tiers of Level 2 meetings & all of Level 3 meeting prize money

    1. Level 2 (Provincial Full Stakes) +$1.18M (+6.1%)
    2. Level 3 (Tier 3, Healesville, All Maiden, Rankings Meetings) +$1.37M (+21.6%)

Option 2 – Increase all Level 2 & Level 3 meetings minimum prize money by just under 10%

    1. Level 2 (Provincial Full Stakes) +$1.96M (+10.0%)
    2. Level 3 (Tier 3, Healesville, All Maiden, Rankings Meetings) +$0.59M (+9.3%)

Option 1 – Increase bottom tiers of Level 2 & all of Level 3 prize money (+$2.55M pa)

Level 2 Meetings (Prov full Stake) – Minimum Prize Money Structure 

    1. increase Maidens to current Grade 5,6 & 7 level;
    2. increase Grade 5,6 & 7 to current Grade 4 & Mixed 4/5 Level; and
    3. remaining races remain the same as current minimums.
Level 2 (Prov. Full Stk) Minimum Prize Money

1st

2nd

3rd

TOTAL

CURRENT

Starters

Maidens

1,325

375

190

1,890

1,415

Avg. travel & starters per race

$420

Grade 5,6,7 & Restricted Win

1,405

400

200

2,005

1,890

Grade 4, Mixed 4/5

1,405

400

200

2,005

2,005

Rest Win Fnl, FFA, Spec Event, Gr 5 Fnl, Mixed 3/4

1,650

475

235

2,360

2,360

Level 3 Meetings (Tier 3 & Half Stake) – Minimum Prize Money Structure

Proposal is to raise the entire schedule into a single amount for all grades, equivalent to the current top tier (ie $1,180). Prizemoney for Maiden races at Level 3 Meetings would be at 63% of Level 2 Maidens.

Level 3 (Tier 3/Half Stk) Minimum Prize Money

1st

2nd

3rd

TOTAL

CURRENT

Starters

Maidens

825

235

120

1,180

710

Avg. travel & starters per race

$468

Grade 5,6,7 & Restricted Win

945

Grade 4, Mixed 4/5

1,000

Rest Win Fnl, FFA, Spec Event, Gr 5 Fnl, Mix 3/4

1,180

Option 2 – Increase Level 2 minimum prize money by 12% & Level 3 by 14% (+$2.55M pa)

Level 2 Meetings (Prov full Stake) – Minimum Prize Money Structure

Increase to minimums by approximately 12% across all grades.

Level 2 (Prov. Full Stake) Minimum Prize Money

1st

2nd

3rd

TOTAL

CURRENT

Starters

Maidens

1,110

330

160

1,600

1,415

Avg. travel & starters per race

$420

Grade 5,6,7 & Restricted Win

1,480

420

220

2,120

1,890

Grade 4, Mixed 4/5

1,570

450

230

2,250

2,005

Rest Win Fnl, FFA, Spec Event, Gr 5 Fnl, Mix ¾

1,840

540

270

2,650

2,360

Level 3 Meetings (Tier 3 & Half Stake) – Minimum Prize Money Structure

Increase to minimums by approximately 14% across all grades. This option does not address the relativities between Level 2 and 3 and means all races will remain at about 50% of Level 2 minimums.

Level 3 (Tier 3/Half Stakes) Minimum Prize Money

1st

2nd

3rd

TOTAL

CURRENT

Starters

Maidens

570

160

80

810

710

Avg. travel & starters per race

$468

Grade 5,6,7 & Restricted Win

750

220

110

1,080

945

Grade 4, Mixed 4/5

790

230

120

1,140

1,000

Rest Win Fnl, FFA, Spec Event, Gr 5 Fnl, Mix 3/4

930

270

140

1,340

1,180

Breeding Package (for all VicBred greyhounds)

A proposed package of prize money bonuses to be shared between breeders and owners of all VicBred greyhounds has also been developed to reward and encourage sustainable, quality breeding of greyhounds in Victoria. All VicBred greyhounds would be eligible immediately with no nomination fees required.

A total of 1,909 races would be programmed carrying up to $1.4M in available bonuses to be won across a full year, as outlined below.

EVENT TYPE

RACES
PROGRAMMED

MAX RACE BONUSES AVAILABLE

TOTAL AVAILABLE

BONUSES

EXPLANATORY NOTES

Selected Metro Races

24

$2,400

$57,600

If winner is VicBred $2,400. If not the highest placed 2nd or 3rd VicBred greyhound receives $1,200 .

Selected Provincial

Races

624

$1,000

$624,000

If the winner is VicBred $1,000. If not the highest placed 2nd or 3rd VicBred greyhound receives $500.

Super Metro

(1st, 2nd, 3rd)

2

$17,000

$34,000

Races exclusively for VicBred greyhounds. Money shared between 1st, 2nd and 3rd placed.

Super Provincial

(1st, 2nd, 3rd)

11

$5,000

$55,000

Races exclusively for VicBred greyhounds. Money shared between 1st, 2nd and 3rd placed.

ALL Metro Race

(winners)

1,248

$500

$624,000

If the winner of a Metro Race is VicBred $500. If not the highest placed 2nd or 3rd VicBred receives $250.

 TOTAL

1,909

$1,394,600

 

50 per cent of the bonus applicable to the winning greyhound will be paid to the breeder, and the other 50 per cent would be paid to the owner. The Trainer does not receive a share of the bonus money.

If the Breeder of a greyhound which is eligible to receive a bonus is disqualified or suspended at the time the race was conducted, the Breeder’s portion of the Bonus payment will not be paid.