NZ Soccer to get more than $350,000 from TAB
Friday 28 June 2002
The phenomenal success of the World Cup will see New Zealand Soccer receive more than $350,000 from the TAB, figures released today show.
TAB head bookie Pete Young said total turnover on the World Cup had now exceeded $20 million and with two more games to go was likely to hit close to $22 million.
Under the TAB’s sports betting rules, New Zealand sports associations receive a guaranteed one percent of turnover and five percent of profit from betting on their sport.
“That means we will be writing New Zealand Soccer out a cheque for more than $350,000,” Pete Young said.
New Zealand Soccer chief executive Bill MacGowan is thrilled with the windfall: “The money will be a great shot in the arm for our academy and youth development programmes.”
“New Zealand Soccer budgeted for a substantial sum but the extra will be well received. In the short term, the Under-20 tournament in Christchurch in November, with Uruguay, Peru, Mexico and our own Under-20 squad, will benefit.”
New Zealand Soccer received $115,000 from the TAB after the last Soccer World Cup in France in 1998. Turnover on that event was $5.2 million.
The Soccer World Cup is now the TAB’s highest ever sports betting event, surpassing the $11.6 million bet on the 2002 Telecom Super 12.