Industry Funding

The TRNT is responsible for the negotiations with the NT Government for the Racing Industry Funding and distribution of those funds to the 5 Country Clubs and 2 City Clubs in the NT.

The new Funding Agreement with the NT Government replaced the previous agreement that had been in place since 1999 and expired on 30 June 2004. Due to the delays in setting up TRNT and need for considerable research to allow that Board to get a better understanding of the financial position of the entire industry, that agreement was extended by one year until 30 June 2005.

The new Racing Industry Funding Agreement came into place on 1 July 2005 and included a significant contribution to capital works as well as a 5% increase in Operational Funding.

The NT Government made a Capital Works Grant of $1,050,000 for deferred capital works in the 2004-05 financial year, with an on going commitment of $350,000 per annum for the next 5 years. The TRNT Board also reviewed the method of distribution of the Government Grant to Clubs and it is now more incentive based, although this will not be fully phased in until the 2007-08 season to give clubs time to adjust and improve their performances.

In April 2010 the Minister for Racing, Gaming and Licensing, Delia Lawrie announced $11.5 million in budget 2010 to allow the Territory's industry to remain competitive as well as boost prize money. The funding in this year's budget follows a $10 million package provided last year for the industry support to ensure it remains viabie into the future.

The NT Government undoubtedly recognises the important role that racing plays in the social and commercial life of the Territory as well as being a major contributor to tourism.

The funding boosts allows the TRNT board to proceed to implement our strategic plan for the development and expansion of the industry.

TRNT acknowledges the great support of the NT Government in providing the NT Racing Industry with much needed funding and Capital injection and the tireless efforts of Minister for Racing Delia Lawrie and her team have not gone unnoticed.

Last Updated 27 May 2010