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Future Uncertain For NZ's Top Weight-For-Age Race

Friday, 11th June 2010

Meanwhile "there is still no decision on the future stake of NZ's richest weight-for-age event, the old Kelt Capital Stakes (last year worth NZ$1.2 million) at Hastings," reported racenet.com.au. Sam Kelt "has pulled out of the event after agreement with the Hawkes Bay Jockey Club could not be reached regarding the future stake of the race". HBJC chief executive Jason Fleming commented: "Sam is passionate about his racing, but we could not reach agreement on where we saw the stake & where Sam saw the stake. As a club, we considered we had to be more prudent with the risk the club had to take than Sam saw it. We have worked hard to provide a prudent financial model for the race & we are still waiting on the NZTR board to make its decision on how much it will contribute to the stake. Until we know that, we will not be announcing the new stake & sponsor. But what is certain is that it will be a new race, with a new sponsor & a new stake . . . and the stake will be reduced."

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