The resolution of one of the most confronting financial issues which has threatened trainers’ businesses - unpaid owners debts - is an important step closer, following a decision by the Racing NSW Board to adopt a model jointly formulated by ATA Chief Executive John Alducci and TROA Chairman Jonathan Munz.
Over the past few months the special Owners and Trainers Security Model Working Party established by Racing Victoria and comprising representatives of the Racing Victoria Board, the ATA (John Alducci and Don Healy) and TROA (Jonathan Munz and Peter Jurkovsky), have met regularly to formulate the Model which could be adopted by Racing NSW and Racing Victoria, prior to it being adopted nationally.
As a first step, the Board of Racing NSW has approved the Owners and Trainers Security Model developed by the Working Party. It is expected that the Board of Racing Victoria will accept the recommendations of the Working Party at its February Board meeting.
The ATA has been seeking a satisfactory resolution to the bad debts issue for some considerable time and has been frustrated by opposition from regulators, administrators and stakeholders in resolving the matter which has continued to compromise the financial viability of many trainers’ businesses. With the support of a key stakeholder group in TROA, the ATA has designed a workable Model which will alleviate many of the problems which have plagued trainers and the ATA for far too long.
The expected ratification of the Owners and Trainers Security Model by Racing Victoria will be a great outcome for the racing industry and is a major achievement for the ATA.
It must be recognised that once this Model is ratified by the Racing Victoria Board, the ATA will play a pivotal role in working with TROA to formulate appropriate Owner/Trainer agreements which will be administered by RISA and ultimately rolled out nationally. We are hopeful that the new Model will be implemented later in 2014.
Most importantly, it is anticipated that Trainers will not be charged any fees for the services and benefits which they will receive with the introduction of the Owners and Trainers Security Model. The ATA will provide further details of the Owners and Trainers Security Model and its operations following the Racing Victoria Board meeting in February.