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Racing Vic Urges VRC To

Thursday, 24th May 2012

Racing Victoria "is urging the Victoria Racing Club to reconsider a proposal to cut prize-money for selected group and listed races next season" reported The Age. VRC chief executive Dale Monteith "confirmed it had received a letter from RV chairman Michael Duffy asking the club to reconsider plans to cut more than $1 million in prize-money". But Monteith reiterated that "no final decision had been made on prize-money reductions & guaranteed that prize-money overall would increase next season". Monteith said: "This is not unusual. Each year we prepare a budget & look at all areas of the business, including prize-money. In recent years we have boosted prize-money to some black-type races, like the Kewney Stakes, in the hope of getting them upgraded. The club will look at whether it has over-invested in those races that will probably not get that Gr1 status. Categorically I can say that prize-money will go up next year, but nothing has been finalised as it has not yet been put to our board. . . . . A final decision on prize-money may not be made until the end of July."

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