The Racing Association, Gold Circle and Phumelela announced on Thursday that in accordance with a contractual agreement between the owners and the jockeys, an increase in their remuneration has been approved.
Effective from today (1 March 2008), the riding fees will be increased from R475 to R525, an increase of 10.5% .
The negotiations between the owners and the jockeys began in January 2007 and were concluded in April 2007 with the increase set for 1 March 2008. An interim increase was given last year.
Clyde Basel, CEO of the Racing Association, said that now that a correct base riding fee had been agreed upon, the Consumer Price Index (CPI) would be an acceptable yardstick with which to establish increases on a year to year basis.
“We’re really pleased to have reached this agreement with the parties concerned and that the hard-working jockeys share in the success of the racing industry,” said Basel.
Eric Fordred, the National Jockey Co-ordinator, was very pleased with the harmonious manner in which the negotiations had been conducted and with the resulting increase. “I have spoken to a number of jockeys and they are all very happy that we are being looked after,” he said.
Extract from Sporting Post