Racing Association CEO Larry Wainstein has advised owners that any implementation in the increase of the trainer’s share of stakes would have to be resolved between those parties.
Larry Wainstein – sort it out
The communication gets no prizes for clarity and appears to leave any resolution up in the air.
In a letter dated 15 June to members, Wainstein said that he was approached by Clinton Binda on behalf of trainers, seeking to increase their percentage of stakes, which has been at a rate of 7% ever since corporatisation of the industry.
“I understand that certain trainers have their own arrangement with patrons but our intention is to assist in facilitating the increase providing it is agreed to by the owners. The request from the trainers is to increase the percentage take-out to 10%. It must be borne in mind that the arrangement with trainers is with their owners and has nothing to do with the Racing Association or Phumelela Gaming and Leisure Limited,” said Wainstein.
He went on to say that trainers are independent operators and manage their own stables and the onus is on them to ensure that the patrons are satisfied with the increase.
Phumelela Stakes Department is only the facilitator in making payments from the stakes pot.
Wainstein closes by saying that neither the Racing Association nor Phumelela will entertain explaining to owners why an increase has been implemented as it is the responsibility of the trainers to deal with this matter.
“I appeal to RA members to liaise with their trainers regarding this adjustment should the owner not agree with the increase.”
So will it happen or won’t it and who will co-ordinate the exercise?
