Group races feel wrath of NZTR’s cost-cutting measures as NZB Kiwi receives $500,000 funding boost

New Zealand Thoroughbred Racing will slash more than $3 million from prize money this season, but minimum stakes have escaped the fiscal scalpel.

Black-type races will feel the wrath of NZTR’s cost-cutting measures, with $104 million allocated to prizemoney for the 2026/27 season, down $3,172,375.

After months of uncertainty, TAB NZ on Friday agreed to release $118 million in funding to NZTR, providing the regulator an additional $8 million to administer the code.

Of that, $104 million will be distributed to prize money, with executives electing to reduce stakes for a suite of Group 1 races by $1.35 million, as well as reductions in Group 2 races (down $830,125), Group 3 (down $235,700), and Listed races (down $151,050).

More than $1 million has been axed from innovation races but an extra $500,000 has been provided to help fund March’s $4.5 million NZB Kiwi slot race.

NZTR general manager of racing Mitch Lamb was “comfortable that we have reached the right balance within the funding available”.

“To be able to protect minimum stakes across all our non-black-type races, given the funding circumstances, is a positive outcome,” Lamb said.

“This provides important certainty for owners, trainers and other participants as they plan for the season ahead.

“The changes have been concentrated across selected black-type, innovation and other additionally funded races. 

“We have taken a targeted and selective approach, particularly across the Group 1 program, taking into account the potential impacts of each change.” 

Innovation races, the Wairere Falls Classic and Karapiro Classic, have been shelved after NZTR determined they had not achieved their intended impact.

Three other “innovation races” have had their prize money cut for this season.

Some of the stake reductions had been offset by contributions made by Auckland Thoroughbred Racing, which administers Ellerslie and Pukekohe.

Lamb also revealed the NZTR board was unanimous in its support of financially backing The NZB Kiwi, a lucrative 1500m race restricted to New Zealand-bred and/or sold horses.

Damask Rose and Well Written have won the first two editions of the race, which is run at Ellerslie on Champions Day.

“The investment made by slot holders was based on the structure already agreed for The NZB Kiwi, and the board considered it important that NZTR honour that commitment,” Lamb said.

“The race has delivered significant commercial and promotional value for New Zealand racing. However, beyond this season, NZTR will undertake a full review of its future structure and investment.”

NZTR will release full details of the exact prize money levels for black type and innovation races in the coming days.

“These decisions protect the foundation of our racing programme, provide participants with clarity for the season ahead and target reductions where we believe they can be best absorbed,” Lamb said.