Kiwi thoroughbred funding deal secured, but top-end stakes in limbo

The New Zealand thoroughbred industry has secured a $118 million funding package for 2026/27, but the prize money for some Group and Listed races remains in limbo as New Zealand Thoroughbred Racing reviews the black-type purses attached to a high point of its season.

The agreement between NZTR and TAB NZ increases the base allocation by $8 million from $110 million, although $3 million has been brought forward from the 2027/28 racing year.

Stakes and bonus funding will be budgeted at $104 million for the season, representing a 46.6 per cent increase on actual stakes and bonus funding in 2022/23.

However, funding for races carrying more than minimum stakes later in the season, including individual Group and Listed events, remains under review.

Stakes already confirmed for the first three months are guaranteed, and NZTR will release the full revised schedule once its assessment is complete.

NZTR chairman Paul Humphries said the agreement followed considerable work between the two organisations to reach an outcome in a more constrained funding environment.

“There has been considerable work by the NZTR management team and Board, alongside TAB NZ, to reach this position,” Humphries said.

“We acknowledge the process took longer than anticipated and thank industry participants for their patience and support.

“Finalising the package enables NZTR to confirm its budgets and gives clubs and participants greater certainty to plan for the season ahead.”

TAB NZ will no longer fund Summer Carnival stakes through the Rejuvenation Fund, which provided $8 million in 2024/25 and $7 million in 2025/26.

Humphries said the confirmed package would give breeders, owners, trainers and clubs greater confidence when making decisions for the coming season.

“Now that the funding package has been finalised and the overall level of stakes funding is confirmed, participants have greater certainty when making important decisions for the coming season,” Humphries said.

“For breeders, that means being able to book mares for the upcoming breeding season with greater confidence. 

“Owners have more certainty when making investment and racing decisions, trainers have greater clarity when planning their teams, and clubs have a firmer basis for preparing their programmes.

“We know the industry has been seeking this certainty. While the funding environment remains challenging, this agreement provides a clear foundation from which participants can plan and move forward.”

Protecting minimum stakes for non-black-type races remains a priority, with NZTR indicating any necessary reductions will be concentrated towards the top tier of the programme.

“Minimum stakes underpin participation across every level of our industry,” Humphries said.

“These will remain at the minimum levels, there will be some increases where possible and any necessary reductions will be focused predominantly on the upper end of the stakes programme, while honouring commercial arrangements and protecting black type.”

NZTR will also continue funding strategic projects aimed at strengthening the industry, including Project Stamina and its welfare, technology and marketing programmes.

“Not all the benefits of these projects will be immediately visible to participants, but they are important investments in the future of our industry,” Humphries said.

“We have a responsibility to ensure every dollar delivers value, and that remains a strong focus. We are particularly encouraged by the progress being made through Project Stamina, as well as our welfare, technology and marketing programmes.”

TAB NZ will fund the OnTrack programme directly, while a proposed $3.6 million for track infrastructure and additional funding for the RACE Awapuni and Waikato Thoroughbred Racing Greenfields projects will be considered separately through the Establishment Board.