Racing is set to hit the track
HORSE RACING: Sunshine Coast Turf Club chairman Peter Boyce says the long-awaited deal between the State Government and Racing Queensland will secure a brighter future for the industry.
After a marathon meeting on Friday, the two bodies struck a deal to deliver $26million in new prizemoney to the industry.
It is understood $18million will be injected on November 1, and a further $8million in six months.
The deal is ongoing, meaning $26million will be injected into the industry annually.
Race meetings will still not go ahead in Queensland on Saturday but the new deal averts any future strike action for Melbourne Cup day, where TAB meetings in Queensland, including Sunshine Coast's Corbould Park, will now proceed as scheduled.
Boyce, who was one of many industry heavyweights to sign an open letter to the state government on Thursday, welcomed the news.
He labelled the short turnaround to receive the cash injection as "significant".
"I don't know that it's enough but it's great to see that that amount of money is going to come into racing and it'll go a long way and hopefully the provincial clubs like us see an increased percentage of rewards," he said.
"And our future has been secured for the time being."
Boyce said that the deal meant each race at Corbould Park would likely jump to $20,000 in prizemoney in the future.
"The biggest thing is the money down to 10th place," he said.
"(Placegetters) one to four will get money and now the starters will get a fee down to 10th place.
In the past prizemoney on offer was $14,000 for a maiden and $16,000 for an ordinary race.
"So all in all a good day for racing and its participants in every respect."
-With Nathan Exelby