New Zealand Thoroughbred Racing faces prize money squeeze
New Zealand Thoroughbred Racing has secured $118 million in base funding from TAB NZ for the 2026/27 season, although prize money for some of the country’s higher-value races could be reduced as the industry operates in a tighter funding environment.
The revised agreement increases TAB NZ’s base allocation to NZTR from $110 million to $118 million, with $3 million of that amount brought forward from the 2027/28 racing season.
However, TAB NZ will no longer fund Summer Carnival stakes through the Rejuvenation Fund, which contributed $8 million in FY25 and $7 million in FY26.
NZTR has subsequently set its stakes and bonus funding budget at $104 million for 2026/27, which it said remains 46.6% higher than actual funding in 2022/23.
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Minimum stakes for non-black-type races will be protected, with NZTR indicating that any reductions required will predominantly target the upper end of the stakes programme.
Stakes already confirmed for the opening three months of the season are guaranteed, but funding for later races carrying prize money above minimum levels remains under review. That includes individual Group and Listed races.
NZTR Board Chairman Paul Humphries said finalising the package provided greater certainty for owners, trainers, breeders and racing clubs.
“While the funding environment remains challenging, this agreement provides a clear foundation from which participants can plan and move forward,” Humphries said.
A further $3.6 million in proposed track infrastructure investment will be considered separately, along with potential funding for the RACE Awapuni and Waikato Thoroughbred Racing Greenfields projects.
