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Blowing Hard!

Short Heads this week

Larry WainsteinLarry Wainstein

Racing Association CEO Larry Wainstein has pointed out that it is the Racing Association that governs all stake money paid to owners and it is them that foot the bill.

When the decision was made to double the stakes for the Sun Met from R2.5 million to R5 million and to boost the L’Ormarins Queen’s Plate from R1-million to R1.5 million it was the RA that had to find the money.

“That money does not come from the sponsors. When a request was made to up the stakes on those races the guys came to me to see if we could afford it. I’m not trying to blow our own trumpet but I regularly get questioned by RA members who feel we don’t do enough for them. I just believe there is a need to set the record straight.”

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10 comments on “Blowing Hard!”

  1. As usual its only the owners at the top that get the benefit. Why not take that money and double the value of maiden races where all the owners would benefit???? And then they wonder why new owners are far and few between. Surely then all of the country’s main G1’s should then be at that same level, Jhb, KZn and Cape? and another R5 million to the horse that wins all 3?

  2. So the MET sponsor’s claimed all the glory at the expense of others – no wonder they were so quick to jump on ship – now as all this money was given to Cape racing for 2 meetings – surely Transvaal racing can expect something of the same gesture from the RA – as after all it is the highveld racing that actually keeps racing ticking in South Africa . So at the end of the day the racing public were again fooled by the false advertising of the MET

  3. The directors of the Racing Association (“RA”) know that it is unlawful for the RA to pay or distribute any portion of its income or transfer any of its assets , whether directly or indirectly to its members. A perfect example is exactly what Mr Wainstein talks about in this article.

    Stakes have at all times been paid by the tote. There is a problem if stakes are paid by the RA and when any part of the stakes goes to RA members for a win or place.

    I believe that the RA directors may have opened themselves the door for them to be the subject matter of proceedings to force them to repay to the RA – out of their own pockets – the stakes earned by RA members on these two days. Disgruntled RA members may be considering obliging them to do this and/or seeking an order declaring the RA directors to be delinquent or to place them on probation.

    I complained about the RA bonuses of R20 000 being only available to RA members and not all owners. I also complained that the payment of the R20 000 to RA members was unlawful because the RA is a non profit company. The RA responded that it was not contributing towards the payment of the R20 000. The amount was being paid by the Tote and the racing Trust despite the winning cheque being shown to the world on TV as a RA cheque. Since the R20 000 bonus was part of a deal with Phumelela and the Trust (which I believe discriminates between owners) and nothing was being contributed by the RA, it argued it had done nothing unlawful.

    In this instance and only for this incident, I regret not being a RA member as I would have most certainly taken action against the RA directors.

    I am looking forward to the spin to be put on this one by the RA.

  4. Wow – Well done that really helps the small owners pay their bills and buy more horses .

    As for quote ” I’m not trying to blow our own trumpet ” Please don’t.

  5. Leave Larry alone. Look around you. Rules are broken everyday for the greater good. Well done to Larry. The Racing Association has assets worth over three hundred million rand. Whats a few million to the Racing Association? Larry is a master at what he does. He is good for the game. Horse racing needs to build a shrine dedicated to Larry to thank him for everything. All detractors should get a life.

    1. Well said Pete D! Break a rule here, break a rule there, nothing wrong brother. He should be compared to Zuma, as they have very similar modus operandi. He he he

    2. Is it correct to copy and paste a statement by the SABC board praising Hlaudi Motsoeneng and just changing names and places?

  6. What I like about the Sportingpost is that the humour isdry and very understated and so too are the littles jibes and pokes. I have been asking myself whether a quarter of the readers understand and appreciate the meaning and significance of the Title. I give 10 out of 10 to the Sportingpost.

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