SA TROTS - Swab Release Announcement
Harness Racing South Australia (HRSA) is pleased to advise of a change in the release of prize money for swabbed runners.
Currently, any horse swabbed in a race of more than $3,000 in value has its prize money placed on hold until that swab has been released. The nature of this process means owners and participants are in some cases required to wait up to 6 weeks to receive their payment.
Therefore, this threshold of $3,000 will now be lifted to $7,000 essentially meaning that all non-feature prizemoney will be paid out at the next available stake run, which will deliver prizemoney into pockets several weeks sooner.
HRSA Chair Emma Grigson acknowledges our participants with this decision “The Board and CEO have discussed this topic in-depth recently and felt it an appropriate decision to make. The increase of the swab release prizemoney threshold will allow cashflow to circulate through our participant and key supply chain networks more productively, which is of high priority considering the ongoing bills our participants accumulate to effectively run their operations.”
These changes will come into effect for races held from July 1 onwards. Any swabs currently on hold will continue to follow their course of action, with prizemoney to be paid out in due course.
HRSA CEO Dean Elliott states “As we transition into a new fiscal year, I anticipate this announcement, in addition to the relaunch of the Australian Drivers Championship, will be the first of many positive and gradual steps in the right direction for the local industry. I trust our owners and participants will receive this how it is intended – as a victory and a further layer of support to those who contribute to Harness Racing in South Australia.”
For further comment, please contact HRSA CEO Dean Elliott via email@example.com or (08) 8285 0725.