The Horsemen’s Group have suspended the controversial prize-money tariff for top races – just days before they were set to be introduced on the Flat.
Minimum cash levels for Group and Listed races on the Flat, and Graded and Listed races over jumps, have been dispensed with immediate effect. Values for other races have been “rounded”, with the tariffs due to come into effect on the Flat on Saturday. This action follows further discussions with trainers, owners and racecourses and comes after the support for the tariff policy from Sheikh Mohammed’s powerful racing operation Godolphin and champion Flat trainer Richard Hannon.
“The tariff has set a standard for minimum prize-money levels across all classes of race, providing an important guide for horsemen,” said the Horsemen’s Group chief executive Alan Morcombe.
“Since its introduction it has become the benchmark for minimum prize-money, replacing the BHA minimum prize-money levels that were withdrawn. Many racecourses have responded positively to the tariff and prize-money has increased as a result.
“However, having monitored the implementation of the tariff over recent weeks, we believe that an overall rounding of the prize-money levels to make it easier for horsemen and racecourses to manage the tariff would be beneficial and this has been completed.
“The recent support of Godolphin and horsemen at all levels has demonstrated the importance of actively supporting our drive to ensure that prize-money does not continue to reduce from what is already an unacceptable level.
“For clarification, I have stated in the past that horsemen have many reasons for deciding whether to enter races where the tariff is not being met and this is most relevant at Class One level where there are strong business and racing reasons for running horses in races. On occasions, these go beyond prize-money.
“For this reason we are suspending the Class One tariff for the remainder of 2011 and racecourses will instead be expected to at least meet the BHA minimum values for Group and Listed races on the Flat and Graded and Listed races for Jump events.
“As far as Flat Class One is concerned, prize-money for these races is to some extent protected by international competition. The ongoing stability of the best of British racing, the career of quality horses and their future stud value are very important considerations.
“I therefore understand the necessity for horsemen to enter races below tariff at times where these additional important business considerations apply. This does not mean the tariff does not remain an important indicator of prize-money. It does, however, recognise that we are sensitive to the wider needs of our members who we understand have to balance important factors relating to quality horses with prize-money levels of top-class races.”
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