RACING INCENTIVES

Sports

RACING INCENTIVES

Promoting company announces a slew of monetary rewards for stakeholders

BY OBSERVER RACING
WRITER

Friday, February 21, 2020

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The promoting company of racing, Supreme Ventures Racing and Entertainment Limited (SVREL), on Wednesday last announced a major incentive scheme for stakeholders.

The details were given by SVREL's Chairman Solomon Sharpe at a press conference held at the trainers' room at Caymanas Park.

“At the end of each quarter, starting at the end of March, SVREL will be offering an incentive package to the major stakeholders to recognise their achievements for the specified periods.

“We have given titles to the four quarters. There are: the Opening Meet (January to March), the Classic Meet (April to June), the Summer Meet (July to September), and the Championship Meet (October – December),” Sharpe said.

The incentive package being offered by SVREL is as follows for each quarter.

Most wins owner — $400,000

Most wins trainer with 30 and more stalls — $300,000

Most wins trainer with under 30 stalls — $250,000

Most starters trainers with 30 and more stalls — $100,000

Most starters trainers with under 30 stalls — $100,000

Most wins jockeys — $150,000

Most wins grooms — $100,000

“The package is a sizeable one, and the hope by us as the promoter is for all concerned to get engaged and to earn as much as they can of the incentive money,” Sharpe said.

Reacting to the incentive package, Ryan Darby, president of the United Racehorse Trainers' Association, gave his full backing.

“There are going to be complaints, but as far as I know, there is no scheme that is going to suit everyone.

“This is a unique initiative by SVREL and I am, from a personal point of view, especially pleased with the incentive for the number of starters based on barn size.

“The amount also allocated for most wins by owners is particularly refreshing as frequently, owners are left out of the system.

“So, yes, I give my support to this incentive package,” Darby stated.

In dealing with the vexed issues surrounding the development of the 198-acre Caymanas Park racetrack and stable areas, Sharpe gave an update on the progress of work being undertaken.

“Let me start with the water situation. A well has been commissioned, and we have a deadline for completion for the end of April. When this well is finished and comes into use, we will be able to better provide adequate water for the stable areas and for keeping the track itself in good order,” the SVREL chairman shared with his audience.

In addition, Sharpe announced that two more water trucks are on order and will be arriving soon to complement the existing stock.


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