More money will be directed to breeders under a change to Vicbred first-win bonus allocations, which will take effect in Victoria from October 13.
Foal nominators will be allocated 15 per cent of any first-win bonus, up from 5 per cent. The increase will gift breeders an extra $700 each time their maidens break through and win $7000 Vicbred bonuses.
Owners (80 per cent) and trainers (5 per cent) will retain their present allocations, while studmasters and drivers will no longer each receive 5 per cent of the bonus, which instead is redirected to foal nominators.
Harness Racing Victoria Chief Executive Officer Matt Isaacs said the change reflected the industry’s determination to support those who provided our next track stars.
“This change moves more money into breeders’ pockets, recognising the importance of encouraging breeding in Victoria to reverse trends and ensure our trainers and drivers have plenty of future champions in their hands,” Isaacs said.
“This comes on the back of July’s announcement of $2.75 million of State Government funding into Vicbred Vouchers and further reinforces Victoria’s commitment to the breeding industry.”
The proposal was considered at the Harness Racing Advisory Council’s quarterly meeting in August, which featured harness racing stakeholders, independent members, and HRV Board and staff.
“I am very proud of the mature way our stakeholders have discussed and resolved the first-win bonus allocations, taking an industry-first perspective to ensure participant returns have the maximum benefit,” Isaacs said.
Harness Breeders Victoria president John Coffey said he believed the change would be “really welcomed” by breeders.
“Foal crop numbers have been diminishing, and putting extra money into foal nominators’ pockets will be a positive step forward for the breeding industry, encouraging breeders to reinvest in future generations and turn those trends around,” Coffey said.
Anthony Butt, president of the Victorian Trainers and Drivers Association, said the changes would strike an important balance.
“It is critical for the industry that breeders are supported, particularly with a lot of trainers and drivers also being breeders and owners,” Butt said.
“It is pleasing that trainers have retained their 5 per cent allotment. It recognises their significant investment and time in the horse. We understand the need to prioritise foal nominators over drivers and studmasters to encourage the breeding of our next racehorses.”
