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VIC To Increase Sat Metro Prize Money
Racing Victoria announced on Friday that it will allocate an additional $5 million to fund prize money increases across the state next year, reports racing.com. The extra funding means prize money for all two-year-old, three-year-old and open handicaps at Saturday metropolitan meetings will increase to $100,000, matching Racing NSW's minimum prize money threshold for Saturday races in Sydney. RV's chief executive Bernard Saundry said: "The increase in minimum Saturday metropolitan prize money to $100,000 for 2YO, 3YO and Open Handicaps ensures that owners and trainers are both rewarded for campaigning their horses in Melbourne and have confidence to invest at the upcoming yearling sales." He added: "This announcement marks the commencement of a strategic review into our prize money model which will continue through the first quarter of 2017 and ultimately inform our decisions on further prize money increases for the 2017-18 racing season."