The Avondale Jockey Club has decided to suspend racing at its racecourse in Avondale, Auckland for the upcoming season.
The last race day in the current season will be July 3rd.
After that the club will only operate its training facility at Avondale Racecourse along with the non-race related activities based there until racing resumes.
The club will negotiate to race its group events including the Avondale Cup, Concord Handicap and Avondale Guineas at other northern region racetracks in the 2010/2011 season.
Club President Ron Murphy says they'd looked at the recently released New Zealand Thoroughbred Racing funding model and while it impacted favourably, it did not provide enough relief for the club to work its way back into a positive financial position.
The economic downturn along with the changing dynamics of the gambling industry has had widespread impact.
Additional pressure on the club's finances has come from the recent cost of debt servicing combined with the reduction in racing income and associated overheads.
