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Stakes – November Crisis Point

RA to pull subsidy at end of November

Stakes are the leading topic of discussion and concern wherever racing people congregate and the Sporting Post has fielded numerous questions and concerns in recent months from stakeholders.

In a communication, it is reported that the Racing Association continues to negotiate with Phumelela as regards stakes and are committed to subsidise them by 20% until the end of November.

The owner body, however, reports that they have indicated that after the end of November they can no longer provide a subsidy.

They state in their latest newsletter that Phumelela and the Business Rescue Practitioner have taken this deadline into consideration and that they will have more feedback in early to mid-November as regards the way forward.

The Racing Association says that they will negotiate a new Stakes Agreement with the new operator once the racing assets have been transferred and all legal requirements have been met.

In the interim, they will continue to negotiate with Phumelela and the Business Rescue Practitioner.

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12 comments on “Stakes – November Crisis Point

  1. Frankie says:

    Frankie Zackey….Asgar i wonder if you could notify Professor Jay August ? ask him if he’s noticed anything different in the last 72 hours in racing

  2. Michael Jacobs says:

    When are the business practicioners, the MOD and the operators going to realise that the only way that stakes can and will increase is when customers (the punters, for those who don’t know!) patronize the product/service on offer?

    We have heard about all the financial agreements and creditor settlements, but not a word about how racing is going to be resuscitated in SA. And that starts with the punters, owners and betting products. The RA can continue to subsidise stakes, the Oppenheimers can pour their entire fortune into the industry, but until the punters and owners are addressed, the money is going down a black hole! What is going to be done for the punters? How are they going to attract and retain the punters? What new exotics are being considered? Is a loyalty programme going to be rolled out? Are they reconsidering the ruinous MR handicapping system? How are they going to re-engineer the racing programme to make it more exciting? How are they going to attract new owners, or are a handful of big owners and the breeders going to continue to be the only ones racing horses?

    The RA can continue subsidising stakes, the Oppenheimers can continue pouring in millions but eventually the industry has to fund itself through getting the business basics right- innovation, marketing, customer experience/satisfaction, service and organic growth.

  3. imfourie says:

    Some things don’t make alot of sence thou, punting is almost back to we’re it was pre lock down.
    Stakes is still way, way down from pre lockdown and for owners it just doesn’t make sense to race for those amounts.
    Your horse has to win almost 5 times a year just to get your training fees back.
    Were is all the extra funds going at the moment? Has the board also cut salleries or expenditure? Or is it just the owners drawing the short stick?

    It seems racing is following the same pattern of government owned companies. Masive sallaries and no money to invest or maintain the sport. Without the owners, racing will collapse. Without the punter there will be no funds. So go back to the drawing board and play open cards with everyone.

    I would like to see the Financials of all involved. Expenditure, salaries and income. 1 and 1 does not make 2. Being a profitable business 3 years back and now in business rescue?

  4. Asgar Essack says:

    Hi Frankie my brother all I can say is
    ” Thumbs Up”
    As the handicappers have shot themselves
    In the foot.
    Beside you,Graham and I many other people are joining the chorus against the
    MR system and welcoming the exciting
    Plate races.
    By the way Greyville had twelve hprses entered for the Graduation Plate.
    Punters are also happy because they can enjoy the races as well as make some
    This is all very good to re_attract lost punters and owners to the game.
    Well done to all those concerned as they
    start to see the light.

  5. Frankie says:

    Frankie Zackey….It’s been ages since I’ve seen P6’s pools during the week just missing the 1 mil bracket,,is it because of the Plate races that took place over the weekend and on Tuesday ? ABSOLUTELY…I could not help having a big smile on my face watching punters queuing up to collect their winnings…their were many PUNTERS that enjoy a slice of the cake for a change,,it’s exactly what racing needs…The R F system is the only answer going forward..happy punters = healthy pools…Asgar my brother pls send my regards to Professor Jay August Tks Champ

  6. Michael Jacobs says:

    The return of the Graduation plates is indeed a welcome improvement to the racing programme. It will take time, but eventually this will be the logical step for all maiden and two-time winners. This will allow progressive horses to win three races before being murdered by the handicappers. We will see good horses taking each other on, with 3 guaranteed wins before they go to the handicaps. It will allow for better assessment and ratings too.

    The punters and the owners are the winners, although some mathematics professors and/or statisticians might not enjoy it! But a step in the right direction.

  7. Asgar Essack says:

    Well Frankie and Michael I am extremely delighted to see the return of the very popular Graduation Plates..
    Atleast someone up there has listened to our pleas and decided to do the logical thing.
    Graham my friend Mozart Magic will get his second win shortly.
    The MR ratings will be unable to stop him from winning two Graduations.
    Some are already complaining about the size of the fields.
    But I am sure owners and Trainers will take advantage of this new opportunity presented to them and they will not let us down they will enter their horses in large
    Cape Town has two Graduation Plates on Saturday which is fantastic.

  8. Pieta Louw. says:

    These Plate races can be a welcome return……but be careful …the ratings are still from your current handicappers….for me it hasnt worked out yet….maybe with a new professional panel this will work and get the punter back in the game again.
    But agreed….best start I’ve seen for years……let’s keep it up.

    Cecil, as hulle so aangaan lyk die toekoms groen “John Deere groen”

  9. Graham Martin says:

    well said ASGAR, hopefully further reforms can take place and the Punters can come streaming back to racing again! Why did this take so long?

  10. Graham Martin says:

    Frankie Zackey you’re on the ball , the next step should be the return to the RF system and the handicappers replaced by more competent people, people who know what they are doing! Then we can say goodbye to lucky numbers and guessing. Punters will have COLLATERAL FORM to work with as in the previous years !

  11. Cecil Pienaar says:

    Hello Pieta, ja ou Maat gras groen. Ek lees Maar Al die MR posts, bang om kommentaar te lewer. Hou nie van die essay replies nie. Maar lekker om te sien a few meetings with no carry overs. But me, I play them no matter the weights. Just in my home province, this blerrie dumbering system 😂 lol, numbering system

    Take Care, wet in KZN all the way from the Coast to Inland.

  12. Jonathan Harris says:

    Grrrrrr….. it’s the M.R. SYSTEM RATED horses coupled with carding plate races thats working to the benefit of punters. NOT THE BLOOMIN R.F. HANDICAPPING SYSTEM! Don’t you get it? 90 percent of top M.R. RATED horses are winning or finishing in the top 3! Reverting to the antiquated R.F. handicapping system is NOT the answer. In my opinion the answer lies in carding a combination of Plate and M.R handicaps, so connections have a choice of which races to enter. Punters will have to continue doing their homework but it will be easier for them.

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