|
19.
Dual hemisphere sires boost Hunter Valley
economy by millions of dollars
|
01/05/2002 |
|
Racing & Breeding News
Brian Russell Bloodstock Media Service
A proposal made last week by the NSW Thoroughbred Racing Board to place a10% levy on the service fee income for all sires in the State serving books of sixty or more mares has not been welcomed by breeders. Aimed at financing a racing bonus scheme, such a levy would in the main be a burden on the major studs in the Hunter Valley, the epicenter of the thoroughbred revolution that has made the region one of the best for quality breeding in the world.
The core of this revolution has been the dual hemisphere use of outstanding European and North American, and more recently Japanese, stallions. In some cases part owned for their stud careers by Australian interests, these horses come out here for the breeding season in the latter part the year after completing their northern hemisphere usage in the first half of the year.
At this time 41 northern hemisphere sires are booked to visit the Hunter Valley for the 2002 season.They include winners of such illustrious races as the English, Irish, French and Kentucky Derbys, the Prix de l'Arc de Triomphe, Dubai and Japan Cups and the American Breeders' Cup races.
Although a proportion of the service fees quite a few of these horses generate is remitted to their overseas owners, the adoption of dual hemisphere usage has pumped many milllons of dollars more into the Hunter Valley economy. It is estimated that the visiting sires look after at least 4000 mares which earn in excess of $50million in service fees and include quite a few from New Zealand and a number which reside in the area on behalf of overseas owners.
On top of service fee income the quality of sires available in the Hunter Valley has boosted overseas interest in the yearlings bred in the area and offered at sales.This year has seen Hunter Valley bred yearlings also earn in excess of $50million with a bigger input of foreign money. A number of these horses are to be raced here.
The uplift in Hunter Valley breeding has also resulted in the expenditure of millions of dollars on upgrading stud facilities and, besides involving big money from Sydney businessmen, has brought in overseas investment.Overseas owners of breeding operations in the region include representatives of Ireland, America, the Philippines, Dubai, Malaya and China.
There has also been a big lift in the employment in the horse industry in the Hunter Valley and also in the expenditure in surrounding towns. Also local race clubs have been well supported by sponsorship from studs and the likes of Coolmore,Vinery, Emirates Park, Arrowfield,Widden and the Darley group have also been major sponsors of feature metropolitan events.
It is likely that the stimulation for Philippine's business tycoon Eduardo Cojuangco's increased investment in Australian racing and breeding through his Mudgee located Gooree Stud operation and his sponsorship of Australia's richest race day program, the $8million San Miguel carnival at Randwick on Easter Saturday, has been influenced by the quality of the sires shuttling into the Hunter Valley.
The NSW racing and breeding industries have also benefited from a number of good increases to prize money made since the incorporation of the TAB. In the current racing year over 100 races in the State will each carry $60,000 or more and the highest prize money for ordinary metropolitan races on Saturday was at Sydney's Rosehill Gardens.They offered $45,000 as against $40,000 Melbourne, $24,000 Brisbane and $20,000 Adelaide.
Racing & Breeding News
Brian Russell Bloodstock Media Service
|
