New agreement sees funding reinvested into Northern Territory regional turf clubs

A new funding agreement has been announced between the Northern Territory Government and Thoroughbred Racing NT (TRNT) to support the racing industry across the Territory for the next ten years.

As part of the new agreement, TRNT will be required to direct $6 million to upgrade infrastructure at regional racetracks in Alice Springs, Tennant Creek, Katherine and Adelaide River.

A previous five-year agreement with Thoroughbred Racing NT, which is the peak racing body representing the Northern Territory’s horse racing clubs, expired on 30th June.

In light of this agreement, previous directions to repay a $12 million grant awarded to the Darwin Turf Club for the construction of a grandstand in 2019 will no longer apply.

NT Minister for Racing, Gaming and Licensing Chansey Paech notes “while the overall baseline funding amount remains the same, this new agreement will specifically direct Thoroughbred Racing NT to reduce its payments to the Darwin Turf Club by $6 million over ten years, and reinvest that amount into infrastructure upgrades at regional turf clubs.

“Racing is a major drawcard in our regional areas and improved infrastructure at these tracks will make a huge difference to these clubs and communities.”

In addition to standardising the agreement in line with other NT Government grants, the new proposal includes:

• increasing the terms of the funding agreement from five to ten years; and

• an annual base amount of $17.88 million.

The $6 million investment over ten years to upgrade infrastructure at regional racetracks will be distributed as follows:

• Alice Springs Turf Club - $150,000 per annum for the first four years and $400,000 per annum for the remaining six years;

• Tennant Creek Racing Club - $50,000 per annum for the first four years and $133,000 per annum for the remaining six years;

• Katherine Turf Club - $50,000 per annum for the first four years and $133,000 per annum for the remaining six years; and

• Adelaide River SSRC - $50,000 per annum for the first four years and $133,000 per annum for the remaining six years.

“Racing is a major drawcard in our regional areas and improved infrastructure at these tracks will make a huge difference to these clubs and communities.”

Image courtesy Alice Springs Turf Club