HorseRacing

NOT LOOKING GOOD

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W local racing industry stands to suffer a $2.5 million drop in prize money this year as the sport battles for survival. Prize money, slashed by 15 per cent last year, will suffer a futher cut of 15 per cent from March 1. This was disclosed to stakeholders by Arima Race Club (ARC) president Linford […]

W local racing industry stands to suffer a $2.5 million drop in prize money this year as the sport battles for survival.
Prize money, slashed by 15 per cent last year, will suffer a futher cut of 15 per cent from March 1. This was disclosed to stakeholders by Arima Race Club (ARC) president Linford Carrabon, at a meeting at the Arima Race Club’s headquarters on Friday last.
And according to Carrabon, owners and horsemen stand to lose close to $5.5 million stretching back to 2015 as a result of cuts to the Classic Diary and regular races on the weekend. The total purse payout this year is estimated to be $13.5 million. In 2015, it was close to $19 million.
Carrabon admitted to stakeholders that racing is in survival mode at present and the cut in prize money was necessary to keep the industry afloat.

 

 

Source: Express

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