STC Announce $2.25m Stakes Boost
- Thursday, 29 August 2002 00:00
The financial performance of Sydney Turf Club for the year ended June 2002 has been very strong with increased profits to be reported to Members at the upcoming annual general meeting.
As a direct result, minimum standard Saturday prizemoney will increase to $50,000 (effective 1 January 2003); an 11% increase from $45,000. The BMW, contested on AAMI Golden Slipper Day, will increase by $250,000 to $1,250,000.
"A combination of good returns from our on-course operations and an increase in TAB revenue has laid the base for the solid financial result" said STC Chairman Mr. Bruce McHugh.
Mr McHugh continued, "Sydney Turf Club is committed to ensuring that it returns its profits to industry stakeholders and accordingly on the strength of that performance we are pleased to announce a significant increase for next year in standard race prizemoney as well as an increase in our feature distance race, The BMW."
In just 12 months, standard Saturday prizemoney at Sydney Turf Club has risen 25% from $40,000 to $50,000. Sydney Turf Club is the first Sydney metropolitan race club to increase standard Saturday prizemoney to this level.
Mr McHugh confirmed, " We are very proud to be the first NSW race club to increase standard Saturday prizemoney to $50,000. Combined with the recent addition of the $1,000,000 STC Golden Rose to our calendar and the increase in AAMI Golden Slipper prizemoney to $3,000,000 Sydney Turf Club is pleased to announce this total prizemoney injection of $2,550,000 for the 2003 calendar year."
Standard Races (Saturday) |
Minimum of $50,000 (up from $45,000) |
All Listed Races |
Minimum of $70,000 |
All Group 3 Races |
Minimum of $100,000 |
All Group 2 Races |
Minimum of $140,000 |
The BMW |
$1.25M (last running $1M) |
AAMI Golden Slipper |
$3M (last running $2.5M) |
STC Golden Rose |
$1M (first running will be 2003) |
In addition to the $2,550,000 prizemoney injection, Sydney Turf Club will maintain its free racing policy for all races less than $1,000,000, with no nomination or acceptance fees charged to owners, and the continuation of paying owners a starters bonus for horses who do not collect prizemoney in a race of less than $100,000 in prizemoney.
Media Release - STC