by Delamere Usher
 
The Kelt Capital/Ormond Memorial (NZ-G1) has become New Zealand's richest race after receiving a massive purse boost. The 2,040-meter (10.14-furlong) race, to be run at Hawke's Bay Racing's Hastings racecourse on October 6, is now worth approximately $1,409,204 ($2-million New Zealand).
 
Japanese owners have already been made aware of the purse increase from its current $704,602 purse ($1-million New Zealand), and have indicated interest in taking horses to New Zealand for the event. There has been growing Japanese interest in both Australian and New Zealand racing since the success of Delta Blues and Pop Rock's one-two finish in the 2006 Melbourne Cup (Aus-G1) in November.

The announcement was made by Sam Kelt, managing director of Kelt Capital Ltd, sponsor of the Ormond Memorial since 1991.
 
"This is a very significant development for New Zealand racing in terms of positioning us at a new level on the world racing scene,” Kelt said. “It will bring serious international credibility for our industry."
Kelt stressed that the increased prize money was not coming from industry funds, but was funded by Kelt Capital and Hawke's Bay Racing's own initiatives.
 
John McGifford, general manager of Hawke's Bay Racing, said the race was already an internationally recognized event and "the next step is to have it internationally contested."

Delamere Usher is an Australia-based Thoroughbred Times correspondent