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VRC "To Rein In Prizemoney" For Some Stakes Races

Thursday, 17th May 2012

The Victoria Racing Club "has flagged prizemoney cuts to many of its feature races next season" reported The Herald Sun. The newspaper "understands the VRC has alerted Racing Victoria to the possibility more than $1 million will be shed from some of its group & listed races. While it is believed the Melbourne Cup will not take a hit, races such as the Makybe Diva Stakes, Bobbie Lewis Quality & other lead-in features could." Sources told The Herald Sun that "RV was informed up to 30 races could be affected". Outgoing VRC chief executive Dale Monteith said budgets "were still being configured & could go to the July board meeting" & noted: "Nothing has been decided, but it is really in the context of not only next year, but the year after as we look at our ability to fund a new grandstand. Understand that last year we gave out $8 million more than we received in distribution. We provide more top-up prizemoney than all other clubs combined." The VRC "has earmarked the demolition & rebuilding of the old members' grandstand for 2014 or 2015".

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