$50,000 gift backs race

Press, 29 July 1989, Page 29

$50,000 gift backs race

By

DAVID MCCARTHY

Many smaller racing clubs would like a sponsor of the calibre of the Canterbury racing enthusiast Mr Ces Stevens.

Mr Stevens has ensured the Stevens Banks Peninsula Cup maintains a fitting stake by donating $50,000, to be invested by the club. The interest will provide for the race. Mr Steven’s contribution is the largest of a number of sponsors who played a big role in the Banks Peninsula Racing Club recording a profit of $10,751 for the 1988-89 financial year. Over-all sponsorship fell by $ll,OOO but club stalwarts increased their contributions so that stakes fell by just $6OOO. The club president, Mr Bob Nurse, paid tribute to the club’s financial supporters in the annual report. The annual meeting is to be held on Monday

at the Tai Tapu Hotel. The club treasurer, Mr Young, said while profit

was down from $26,044 for the previous year, no big fundraising had taken place in the last year whereas over $lO,OOO had been raised from this source the previous year. Turnover rose by nearly $lB,OOO but the assessment that the sharemarket crash of October, 1987, was primarily responsible for the slide in turnover later that month would seem only a partial explanation for last year’s figure. Of more concern to the club is on-course attendance, which slipped by more than 700 to 2163 in two years, with a correspondingly disappointing on-course turnover.