Te Akau Weekend Reflection

David writes -

I have just been sent a brochure from the Australian Turf Club on the Sydney Spring Carnival.   I read it and thought ‘this is out of date'.  On closer examination I realised it was for this Spring.  I was staggered at the disappointing stake money on offer for the big races.

Let me first tell you a story.

Between 1990 and 1993 I went to Australia every second week to work for a bank.  I was employed with a good friend of mine Don Hancock to work in the insolvency department of the bank who had lent tens of millions of dollars in the 1980's to people to buy bloodstock.

Most Saturdays whilst in Sydney, Don and I went to the races.  The big day of the Spring Carnival in those days was a long weekend.  On the Saturday was the Epsom Handicap and on the Monday was the Metropolitan Handicap, both Group 1 races.

Trevor McKee bought a horse that I liked the look of over for the Stan Fox Stakes - it was called Greig. I put $1,000 each way on him and he got up to win by a head and I got on at 50 to 1.

He was ridden by Bruce Compton.  The bookmaker I placed the bet with was Roger Manning who the next week went broke and I had to settle for $.50 in the dollar. That taught me a pretty good lesson about who to bet with but I remember the race as if it was yesterday. It was worth $250,000 22 years ago, the same as it is this year. 

In 1992 we won the Metropolitan with Te Akau Nick and it was a $400,000 race, the same as it is now.

This year the Carnival black type races are at $100,000 for Listed, $125,000 for Group 3 and $175,000 for Group 2.  When you consider the cost of racing in Sydney it is no wonder Te Akau decided to go to Singapore to establish its international stable.

I must say however with the recent stake increases planned for New Zealand black type races in the new season and the low cost of racing a horse in New Zealand, it is no wonder it is so appealing to so many people to have their horse trained in New Zealand.  Then if it is good enough have a hit and run campaign in Australia.  Te Akau's group of overseas owners, especially in Australia and Asia, keeps growing every year.

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