Mixed fortunes as the racing rollercoaster speeds along

It was good news on the race-stakes front and better-than-expected results of the BloodStock SA’s Two-Year-Old (2YO) Sale, though the deaths of two well-liked personalities tempered the mood.

• Operator Phumelela – still under business rescue – announced it would step in to keep stakes at current levels through February 2021 as the Racing Association’s (RA’s) 20% temporary, five-month cash boost comes to an end.

• Kenilworth Racing – soon to be rebranded Cape Racing – was stepping into the breach to boost stakes for feature races in the upcoming summer season, as well as for lower-level competition.

• The 2YO Sale confounded pessimistic expectations with both aggregate and average prices up on 2019: the aggregate rising 22% from R32.6 million to R39.7 million and the average increasing 18.4 % from R103,028 to R122,957. The median was up 16.7% from R60,000 to R70,000. (This followed falls of 7%-8% at the National Yearling Sale in June.)

• Stalwart Highveld owner-trainer Romeo Francis and popular owner Peter White passed away.

Announcing its stakes support, Phumelela said in a statement: “In addition to the difficult economic conditions in South Africa and the continuing impact of lockdown restrictions on both local and international markets, Phumelela continues to operate its horse racing and betting operations while under the constraints of business rescue.

“However, in order to assist with the sustainability of the industry while the new racing operator obtains the necessary regulatory approvals, Phumelela has agreed to absorb the 20% contribution to stakes recently funded by the RA.

“This will enable stakes to be maintained at current levels to end February, when regulatory approvals should have been received.

“It is a challenging environment for businesses to commit to sponsorship, however any race sponsorship income sourced by Phumelela will be used to bolster stakes further.

“This has already happened with the Gauteng Summer Cup (Grade 1), where World Sports Betting’s generous sponsorship has helped to increase the stake of the race to R1 million.

“Phumelela’s business rescue practitioner continues to consider all aspects of the company’s business model to ensure the continuity of operations until all requirements for finalisation of the transaction are met.”

Announcing its restructuring of stakes levels, Kenilworth Racing said: “A carefully balanced proposal was formulated to ensure feature races are attractive enough to entice visiting trainers to make the trip to the Cape, whilst also helping local owners pay the monthly keep and getting their horses out of the maidens for a quick return.”

The changes see budgeted prize money for the Cape summer season’s two flagship events, the L’Ormarins Queen’s Plate and the Sun Met, shoot up from R425,000 to R1 million apiece.

All other feature races get more money, too, as does the entire “out-of-season” programme.

Kenilworth/Cape Racing also announced the appointment of a marketing expert, Donovan Everitt, to help restore and promote racing in Western Cape following the collapse of manager Phumelela and the damage wrought by the coronavirus lockdown.

The press release added: “Kenilworth Racing is planning many exciting sponsorship opportunities and new initiatives for 2021.

“If you would like to participate or partner with Kenilworth Racing please contact the new Head of Events and Sponsorships – Donovan Everitt at donovan@assetsports.co.za

“For visiting trainers requiring assistance with arranging boxes please contact Teresa Esplin at teresae@kenilworthracing.com.”

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