Stakes Increase KZN

MESSAGE FROM GOLD CIRCLE

Gold Circle is pleased to announce that at their AGM held on 28 January 2021, Members voted to approve a Member’s Resolution tabled by past Chairman, Robert Mauvis, for an extra allocation of R10 million from the Clairwood ring-fenced funds, towards stakes of minor races in KZN. From 1 March 2021, where stakes were R50 000 they will be increased to R60 000 and those that were R70 000 will be increased to R80 000.

“Gold Circle exists to sustain the Horseracing Industry in KZN”, said Neil Butcher, Chairman of Gold Circle. “To do that, we need to assist our stakeholders which include owners, trainers, grooms and breeders. This increase in stakes will benefit everyone directly, hopefully going some way to easing the economic impact which Covid-19 has had on our industry.”

GC Circling the drain. Those funds should never have been used for Stakes.What do they sell once that money is gone?

Sylvester wrote: GC Circling the drain. Those funds should never have been used for Stakes.What do they sell once that money is gone?

That won't be their problem. They will probably be spending retirement on an island somewhere. That ringfenced pot of Gold is a Get Out of Jail Free Card.

If racing is falling into a bottomless pit then fund the stakes with those assets. It will possibly all be over by the next decade.


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