In early December, Racing Queensland announced an additional $15.5 million in funding as part of an Industry Investment Plan, that will commence from January 1, 2021.
Under the Plan, which will benefit almost 40,000 Queensland participants, RQ will deliver increased prize money, investment in QBRED and payments to drivers, along with infrastructure grants and higher club payments.
The Plan will see $600,000 per annum injected into the QBRED incentive breeding scheme, which will see the first-win bonus rise from $10,000 to $12,000.
Additionally, both 3YO Triads will increase to $100,000 Group 1 features.
In accordance with clause 8.2 (b) of the 2021 QBRED Terms and Conditions, these changes are now reflected in the T&C’s.
The Plan will also deliver $700,000 per annum in increased prize money, including increasing and elevating mares feature races with a $100,000 Group 1 race during the Constellations carnival in July.
There will also be increases to metropolitan races with base ‘Band’ level stakes rising to $14,660 for 12 horse fields (2138m) and $14,060 for 10 horse fields (1660m).
The increase in funding will ensure connections of runners that run sixth through to last receive at least $300 in all races over $12,000, as well as the payment to first place also set to increase.
Finally, a $250,000 per annum increase will see driver fees increased from $60 to $70 per drive – up from $45 two years ago.
As part of these enhancements, RQ will also make a change to the current $50 float rebate which will now be paid as prize money to the owners.
For consistency, this will mean all prize money (other than drivers’ fees) will now be paid directly to the owners.
Since 2017, returns to participants across the three codes have grown from $174 million to $223 million heading towards the strategic ambition of $250 million.
With more than 12,500 Queenslanders now employed in racing – an increase of more than 1,000 over the past two years – the Queensland racing industry continues to make a significant contribution to the state’s economy.
Under the Industry Investment Plan, Queenslanders will be rewarded through these increases, with drivers incentivised to race in Queensland and further prize money directed to those at the grass roots level.
While COVID-19 has significantly impacted Queensland racing clubs during 2020 – requiring extensive hardship and Winter Carnival compensation payments from RQ – the organisation continues to monitor the financial health of our clubs.
In 2020, RQ paid out more than $8 million to clubs and the Industry Investment Plan will further increase their payments.
Approved By Dean Baring www.harnessbred.com
Driving The Future Of Harness Racing
