New Zealand's Group One racing has received a massive prizemoney injection with stakes for four premier races rising to more than $1 million.

The huge increases feature an increase from $700,000 to $2.2 million for the New Zealand Derby.

The other races now worth seven figures are the $1 million 2000 Guineas, $1 million Telegraph Handicap and $1 million Auckland Cup.

New Zealand Thoroughbred Racing chairman Guy Sargent applauded the announcement from the NZ Minister for Racing that gives New Zealand an agenda of six milliion dollar--plus races.

“This is a hugely positive move from the Minister and will help to place us competitively alongside other major racing jurisdictions with top stakes levels," Sargent said.

“This increase will see four of our key races offering prize money of a $1 million or more to add to the $2 million Kelt Capital Stakes and $1 million Karaka Million.

“These four additional races will have seen their stakes increased by 350% in three years.”

“These increases will not only strengthen our industry both domestically and internationally but will also significantly raise our returns to owners, on whom we are dependent for the future health and growth of the industry.”

The prize money for these four races for the 08/09 season compared to last season and three years ago is as follows:



Race  08/09 Prizemoney
07/08 Prizemoney
05/06 Prizemoney

Derby  
$2,200,000
$700,000
$600,000

2000 Guineas
$1,000,000
$325,000
$300,000

Telegraph
$1,000,000
$250,000
$120,000

Auckland Cup
$1,000,000
$700,000
$566,000