New Zealand Thoroughbred Racing (NZTR) and TAB NZ have today finalised a revised funding package for the 2026/27 racing season.
The agreement follows constructive engagement between the two organisations. While NZTR and TAB NZ began some distance apart, both parties worked hard to reach a responsible outcome within a more constrained funding environment.
NZTR Board Chairman Paul Humphries said the agreement reflected a shared commitment to achieving the best available outcome for the Thoroughbred racing industry.
“There has been considerable work by the NZTR management team and Board, alongside TAB NZ, to reach this position,” Mr Humphries said.
“We acknowledge the process took longer than anticipated and thank industry participants for their patience and support.
“Finalising the package enables NZTR to confirm its budgets and gives clubs and participants greater certainty to plan for the season ahead.”
Under the revised arrangements:
- TAB NZ’s base funding allocation to NZTR for 2026/27 will increase from $110 million to $118 million. This includes $3 million brought forward from the 2027/28 racing year.
- TAB NZ is no longer funding the Summer Carnival stakes through the Rejuvenation Fund (this was $8m in FY25 and $7m in FY26).
- Stakes and bonus funding will be budgeted at $104 million for the season.
- TAB NZ will fund the OnTrack programme directly, rather than through NZTR as it has for the past year.
- A further $3.6 million in proposed track infrastructure investment will be considered separately through the Establishment Board’s funding process. Additional funding to progress the RACE Awapuni and Waikato Thoroughbred Racing Greenfields projects will also be considered separately through this process. None of this expenditure will form part of NZTR’s operating budget.
“Now that the funding package has been finalised and the overall level of stakes funding is confirmed, participants have greater certainty when making important decisions for the coming season,” Mr Humphries said.
“For breeders, that means being able to book mares for the upcoming breeding season with greater confidence. Owners have more certainty when making investment and racing decisions, trainers have greater clarity when planning their teams, and clubs have a firmer basis for preparing their programmes.
“We know the industry has been seeking this certainty. While the funding environment remains challenging, this agreement provides a clear foundation from which participants can plan and move forward.”
NZTR continues to invest in strategic projects intended to strengthen the foundations and long-term sustainability of Thoroughbred racing.
“Not all the benefits of these projects will be immediately visible to participants, but they are important investments in the future of our industry,” Mr Humphries said.
“We have a responsibility to ensure every dollar delivers value, and that remains a strong focus. We are particularly encouraged by the progress being made through Project Stamina, as well as our welfare, technology and marketing programmes.”
Stakes changes
Stakes and bonus funding will be budgeted at $104 million for the 2026/27 season, representing a 46.6 per cent increase on actual stakes and bonus funding in 2022/23.
Protecting minimum stakes for non-black-type races is a priority.
“Minimum stakes underpin participation across every level of our industry. These will remain at the minimum levels, there will be some increases where possible and any necessary reductions will be focused predominantly on the upper end of the stakes programme, while honouring commercial arrangements and protecting black type,” Mr Humphries said.
Stakes already confirmed for races during the first three months of the season remain guaranteed.
Funding for races later in the season that carry stakes above the minimum level, including individual Group and Listed races, is under review.
NZTR will communicate the full revised stakes schedule as soon that review is complete.
