Racing NSW and the Australian Turf Club announced further prizemoney increases for the Sydney Everest Carnival today.
The inaugural King Charles III Stakes carrying prizemoney of $5 million will be run on Saturday, October 14 2023, at Royal Randwick alongside The TAB Everest.
The King Charles III Stakes, named in honour of His Majesty the King, is a Group 1 race to be run over 1600m at weight-for-age conditions.
In addition, The TAB Everest prizemoney will increase to $20 million, and along with ‘prizemoney increases and new races’, a further $12 million of prizemoney will be available throughout the Sydney Everest Carnival.
Racing NSW Chairman Russell Balding AO believes this announcement honours the new King and adds to the anticipation of the upcoming Sydney Everest Carnival.
“The King Charles III Stakes creates a new level of excitement for the Sydney Everest Carnival with a feature open age mile race boosting an already mouth-watering Everest Day meeting,” He said.
“It is also befitting for Royal Randwick to have a feature race in spring, named in honour of His Majesty, to complement the Queen Elizabeth II Stakes in the autumn with Royal Randwick being Australia’s only Royal Racecourse.”
Regarding the $5 million Everest increase, Balding believes it is a fair reflection on what is the highest-rated race in Australia.
“At $20 million of prizemoney, the TAB Everest is now the second richest race in the world and the richest race on turf,” He said.
“This further increase in prizemoney is not only recognition of The TAB Everest as being the highest-rated race in Australia, but also of the success this event has created in flow on benefits throughout the entire NSW thoroughbred industry for the whole of the year.
“Since its inaugural running in 2017, The TAB Everest has consistently rated as the highest or equal highest sprint race in the world.”
New Minister for Gaming and Racing, David Harris, backed the increases, suggesting it created a more significant event and benefited those employed by the industry.
“Racing makes a significant contribution to the NSW economy. Last year more than 46,000 people attended The Everest at Royal Randwick and spent money at restaurants, pubs, and hotels across the city,” He said.
“The increased prizemoney for The Everest and the addition of the King Charles III race will create an even bigger and better event this year, with positive flow-on effects for the 50,000 people directly and indirectly employed in the NSW racing industry.”
In response to Racing NSW’s announcement on Sunday morning, racing fans and participants took to social media, and it was a mixed reception.
Former Seven Network journalist and broadcaster Jim Wilson said it was ‘Absolutely brilliant news and bring it on’, while Pania Hall added, ‘Great Job’.
Many comments detested the news, with some stating that the $12 million could and should be spent elsewhere.
One comment from ‘Sam’, a self-described horse owner, racing fan, and lover of all sports, believes the money would have been better spent in the country.
“Surely throwing $5m at elite horses instead of spreading it around to increase prize money for country (and) provincial races would be a far better idea,” They wrote.
“Horse owners who are racing in these races won’t benefit half as much from this in contrast to trainers and owners from the bush.”
Is this the right time to announce more prize money upgrades
Infrastructure concerns were another common retort by those commenting on Racing NSW’s Tweet that announced the prize money increases, with Teebee Bloodstock suggesting Racing NSW might be ‘painting over cracks’.
“To increase prize money at the top of the sport to this extent is short-sighted IMO (in my opinion),” They said.
“When you do up a pub, don’t underestimate the few locals that come in every night.
“They are the ones keeping the lights on; love NSW racing but fearful the model might be painting over cracks.”
Author Ray See shared a similar thought: ‘Spend the money where it’s needed at a grassroots level’, while Matt Graham wrote, ‘Put the money into track infrastructure upgrades”.
Golden Paddy, a lover of all things racing and AFL, added, ‘Multiple meetings this week lost after 2mm rain, infrastructure at an all-time low, clearly, and you’re pissing more money up the wall – It’s not even April 1. Well done.’
Thom Jones was a little blunter, telling Racing NSW to ‘read the room’.
Racing NSW might have landed ‘killer blow’
Regarding the ‘ongoing battle’ between Racing NSW and Racing Victoria, a few pundits believe Peter V’landys and his team have landed a killer blow with this announcement.
“There was a query about what would racing be like if they had their own version of LIV (Golf); Racing NSW is going down that path,” Adam Page of Just Horse Racing tweeted.
“Yes, the funds could, and arguably should, be better spent elsewhere, but purely from a racing perspective, they have all but taken over Victoria as #1.”
Cycling In Stitches reiterated Page’s sentiments.
“I don’t like gimmicky pop-up races and excessive prize pools that are designed to one-up another state’s carnival, but you got to hand it to them, whilst Racing Victoria strips prize money, NSW does this,” They wrote.
Racetrack Ralphy Presenter Ralph Horowitz called out Racing Victoria, suggesting Racing NSW had won the war.
“A $5 million WFA mile the week before the Cox Plate and now the Everest $20 million – Peter V’landys has won – The RVL board should be removed immediately as they’ve failed the sport here,” He said.
Love him or hate, V’landys and Racing NSW have people talking about the carnival, and that will only mean two things to him: more people watching and even more people betting.
Little Dance gets a boost and we get our Barn Dance
First and foremost, I’m a big believer that any money should be going towards infrastructure upgrades in the bush, and I’m not a fan of the Big Dance in its current format.
It’s easy for me to think like that because I have my interests in the sport, I’m from the country, run and own a country racing platform, and at the end of the day, I try to advocate for the little guy.
Still, as always, I must approach anything I write and publish with balance and fair regard for all sides of any discussion, and simply put, Country Racing hasn’t totally missed out on this announcement, and recent prize money increases.
In terms of prizemoney, Country participants have never had it better, with two Country Boosted races on each program, weekly Highway Handicaps, the Country Championships (now $1 million), Kosciuszko (now $2 million), and Big Dance (now $3 million).
Additionally, this announcement has seen the increase of the Little Dance from $500,000 to $750,000 and the addition of the $250,000 Barn Dance.
The question will remain – is this an effort to ‘paint over cracks’ as mentioned earlier in this article?
Only time will tell, and this author hopes that major infrastructure announcements around the commencement and completion of promised projects at country racecourses are soon to follow.
For the entire Racing NSW press release, click here.
