Gauteng based racehorse owner Steve Reid has called for change and has urged his fellow owners to get some answers to important questions.
He writes:
I choose not to be an RA member because it is my belief that Larry (Wainstein) and the lads are not independant of Phumelela.
Due to the fact that my nomination and acceptance fees are paid over to the RA from Phumelela, and furthermore, Larry has stood up in parliament and proclaimed that he represents me as an owner, I believe that I, and other non RA owners have the right to ask Larry these questions that affect us all greatly :
- Why do RA board members have to sign a confidentiality agreement with Phumelela? Is the RA there to protect owners rights or to support Phumelela? If history is anything to go on, the RA is clearly more concerned about the operator than the owners it represents.
- Why is there secrecy around the Stakes Agreement? What is the Rand value difference between the original agreement and the current agreement? Why were the changes to the agreement allowed to the detriment of owners?
- Why is there no public access to the documentation regarding the workings of the Racing Trust? The Trust is the biggest shareholder in Phumelela and is under the control of the RA. This powerful body could do much to improve the lot of owners yet it is clouded in mystery. Why is this so if there is nothing to hide?
- Why was it agreed to cap Phumelela expenses on local racing and that the RA paid the difference? Why does the RA contribute an alleged amount of six million Rand to the costs of transporting horses to the tracks on racedays? This was previously paid for in its entirity by the operator. Where does the six million Rand come from if it is not out of the stakes pot?
- How could the RA have agreed to the closing of the Vaal Sand track before an alternate synthetic surface was operational on the Highveld? What compensation is in place for owners who currently have sand performing horses in Highveld stables? What about owners who bought progeny of proven sand sires at National sales as recently as 8 weeks before the announcement was made? Why have the RA been silent on this track closure that will affect a large portion of its members.
We should all be racing for significantly higher stakes, and these have been stolen from us as owners.
I have copies of the original stakes agreement and the current version. Populating these agreements with Phumelela performance reveals a significant shortfall in the stakes pot.
It affects all of us owners.
I am willing to send all interested parties these agreements and can be contacted at [email protected]
I believe that an RA member should table these questions at the RA AGM.
If Larry has nothing to hide these will not be difficult to answer.
It’s time for change!
