NZ Racing Administrator Resigns
- Sunday, 29 May 2011 09:15
The chief executive of the partnership that controls six of the main racing clubs in New Zealand's lower North Island has resigned after less than two years in the job.
Matt Reid told NZPA he would finish up on June 10 after 22 months as chief executive of Race, the partnership of the Wellington, Manawatu, Otaki-Maori and Rangitikei Racing Clubs and the Marton and Feilding Jockey Clubs.
"I have resigned to spend more time with the kids," Reid told NZPA amid reports of differences between him and the board.
Reid said debts for clubs under the Race umbrella had reduced from $12.5 million to $11.5 million during his short reign but he had plans to make much bigger reductions.
"I've started work on some big opportunities for the Race group to consider for retiring some significant debt," he said.
"But it will take some courage for the board to make that decision but I've certainly given them some options to really take Race out of the situation it is in."
Wellington Racing Club president John Fokerd said Reid's resignation had come as a surprise.
"It was a shock both to staff and when I rung around the board on Thursday night," Fokerd said adding that Reid had some issues with governance.
"Matt was trying to make it more commercial and bring in more business-type practices. Sometimes they are difficult to apply into a racing environment."
Prize money for racing in New Zealand has fallen after a three-year government injection came to an end following the recent Auckland Cup carnival.
