Bonus payment responsibility of promoters

Press, 20 August 1984, Page 33

Bonus payment responsibility of promoters

PA Auckland Payment of incentive bonuses at trotting meetings is the sole responsibility of the promoter concerned and is guaranteed, says insurance broker Brett Needham. Mr Needham, a director of Maxwell Purdy and Partners, Auckland insurance brokers who have arranged insurance contracts in connection with bonuses, was commenting yesterday on a statement by John Rowley, the chief executive officer of the New Zealand Trotting Conference. Mr Rowley had said no trotting club or the conference would accept responsibility for the payment of bonuses advertised to be attached to certain established or proposed classic races. In no case had any club applied to the conference

for approval to include such bonuses in the conditions of any race, he said. “Until such time as official application is made any bonuses must be regarded as proposals only,” Mr Rowley said. But Mr Needham said insurance contracts had been arranged to protect promoters’ liability. “The numerous paid-up irrevocable contracts that we have arranged are private market agreements between the promoter and his client... for example, studmaster and breeder. “The bonuses will be paid independently of any stake money attached to the race.” Mr Needham said he assured winners that bonuses attached to any race with which his firm was associated were guaranteed payment.