In February GRNSW provided clubs with several proposals to amend industry funding models aimed at maximising prizemoney returns to participants whilst simplifying and streamlining club
The changes proposed related to the allocation of industry funds to the Greyhound Industry Development Fund (GIDF), the elimination of Pool B in the TAB and non-TAB sector and the reform of the current on-course totalizator rebate to a broader-based club performance reward system.
GRNSW Chief Executive Brent Hogan said the Board considered all three proposals again at the recent board meeting taking account of the feedback and input received from clubs and associations.
“The Board decided that the proposal relating to the allocation of funds to the GIDF and also the elimination of the Pool B payments should be adopted and incorporated into the 2008/09 industry budgets. Whilst Pool B itself is being discontinued the funding currently provided in a lump sum payment from Pool B will now be distributed monthly to assist clubs with cash flow,” Mr Hogan said.
“Consultation on the reform of the on-course totalizator rebate system will continue as feedback on the first draft proposal highlighted the reliance by clubs who receive on-course totalisator commissions to fund operating costs.”
The new amendments to the original proposal have been forwarded to clubs and they will have until 21 April 2008 to provide feedback to GRNSW.
“Our key goal is to drive real and long term sustainable prizemoney growth and it is fundamental that our club performance incentive scheme recognises this objective.”
Brent Hogan said that after submissions from clubs have been received, it was expected that the Board of GRNSW will make a final decision on the incentive scheme in late April allowing for industry budgets to be prepared in May.
Full details of the proposals and the amendments are available at www.grnsw.com.au