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Stakes Changes

Trainer Urges Clarity

Clinton Binda

Clinton Binda has urged trainers to clarify the recently implemented stakes percentage changes with their owners.

Binda, who spearheaded negotiations for the increase from 7 – 10% for trainers in qualifying jurisdictions, confirms that the changes will facilitate automated stakes payments via the NRB so that trainers will automatically receive the newly agreed 10% portion via EFT.

He cautioned that although the RA has sanctioned a 3% increase, this was done to assist those who were still charging the standard 7% and not an invitation to trainers who may already be charging a larger portion to increase this further.

“If we don’t adhere to this, the RA have informed me that they are going to pull their assistance with this and it will revert back to 7%,” he warns.

While trainers are welcome to negotiate fees over and above 10%, these will need to be facilitated privately.

Clinton urged trainers to ensure changes were communicated clearly to patrons to ensure a smooth transition.

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2 comments on “Stakes Changes

  1. Steve Reid says:

    Isn’t this so indicative of the way racing is run in this country? The regulators have rules that are not abided with, the operators do what they want, and the owners suck the hind tit and pay pay pay for the inefficiencies.

    So lets look at what our fearless idiots at the regulatoe say – it’s quite clear, the duty is placed onto the operators to deduct a minimum of 7%. So unless something is documented to the contrary, trainers receive 7% of the applicable stakes cheque and this is currently in place unless you have a KZN trainer because they are special and receive 10%.

    A RACING OPERATOR shall facilitate to pay, on behalf of an OWNER of a HORSE, a
    minimum of 7% of the stakes won by that, HORSE to the TRAINER of the HORSE, and a
    minimum of 7% of the stakes won by that HORSE to the RIDER of the HORSE, which amounts
    shall be deducted from the stake money payable by the RACING OPERATOR.

    In the recent SP article titled “Wainstein: Trainers and owners must sort out Stakes share” the following is said by Damascus Larry

    “I understand that certain trainers have their own arrangement with patrons but our intention is to assist in facilitating the increase providing it is agreed to by the owners. The request from the trainers is to increase the percentage take-out to 10%. It must be borne in mind that the arrangement with trainers is with their owners and has nothing to do with the Racing Association or Phumelela Gaming and Leisure Limited,” said Wainstein.

    Quite. So the crux of the matter is that trainers would have to get their owners to agree to a further reduction. This article then states that the agreement is already in place so trainers better get their arses into gear and “clarify” the situation with their owners. What an absolute farce.

    Owners who are not RA members – and these are the majority despite the spin around the number of horses owned by RA members – are now having stakes unlawfully stolen from them unless they have agreed to the new deduction. With the greatest of respect to Clinton Binda, who gave him the right to ask for these increased deductions on behalf of anyone but himself?

    What a joke.

  2. Mike says:

    Who does Binda represent and where is his mandate to represent Trainers . Why does the Racing Association and or Phumelela accede to these demands without proper consultation and including Owners in such consultation . The problem lies in that the RA supposedly represents both Owners and Trainers , and herein lies the problem .
    Furthermore , if a Trainers stats are hovering around 5% winners to runners then they need to rethink their career ! They are fooling themselves and their Owners about their and the horses abilities ! If it is not grooms making demands it is failed trainers making demands . What next………..?

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