"If anyone comes along at our required level they would get the naming rights - we have kept that open."
SMC Events manager Dave Mee agreed, saying they couldn't just run with a sponsor for any price, it was important to find one that could use the event to leverage their brand.
He said a couple of new sponsors had come on board, bringing current sponsorship to more than was received than last year.
Ms Bowers said plans for the event appeared to be tracking well ahead of last year, although it was a little soon to get a real handle on it, she said.
As of December, trade exhibitor site participation was within budget, but a lot still hinged on funding, including charitable trust contributions.
"We don't get decisions on these applications until the last minute - that's always a bit hair-raising, but it's the nature of the game, you do your best and hope the funds are forthcoming."
The Hastings District Council agreed in July last year to give HOYHB a cash grant of $170,000 to provide the company with cashflow and reduce the risk around some of the event's costs, on top of increased annual sponsorship of $120,000.
In a related decision the council also voted to spend $200,000 on security fencing and irrigation at the Hawke's Bay A&P Showgrounds, both of which would reduce costs for Horse of the Year.
Although the event incurred a $170,000 loss last year, an independent review by Craig Waterhouse recommended that event managers SMC be retained for continuity, and both HOYHB and SMC agreed that the lessons learned from the 2016 show would help ensure a better result in 2017.
New faces on board
Central Hawke's Bay district councillor and deer farmer Tim Aitken has been appointed the Hastings District Council's representative on the Horse of the Year board, despite an approach from Te Mata Mushrooms owner Michael Whittaker, who has instead been appointed an independent board member.
The council appointment has been an extended process due to the local body elections, before which former Hastings councillor Cynthia Bowers filled the role, until she stepped down from the Hastings council in an unsuccessful bid for a seat on the Hawke's Bay Regional Council.
Hastings mayor Lawrence Yule said initially Mr Whittaker had offered his services as a council appointee but because of potential conflicts of interest was turned down.
"Michael came and saw me because he fundamentally believes in it, and the council was grateful for his offer, but we have a number of dealings with him and we thought it was better that he was an independent."
Those dealings included pre-election discussion about relocating part of Te Mata Mushrooms from its Arataki site in the wake of odour problems, which could require financial assistance from the council, as well as speculation about its link to the Havelock North gastro outbreak.
Mr Whittaker was also involved with the council in his role as chair of the Hastings City Business Association, which has most recently been lobbying for permanent free parking in the Hastings CBD.
Mr Yule said the council then considered Mr Aitken's CV, who had already joined the board as an independent director in August, and decided he was a sound choice.
"He has got a good track record in governance and things to do with agriculture.
"He's just been appointed a Central Hawke's Bay councillor and has experience in the equestrian world.
"He's done well in his own business and we think he is a great candidate."
Ms Bowers said the new additions to the board complemented the existing directors well.
"I'm excited by the mix we have - Michael brings commercial acumen and a pretty strong business network behind him.
"Tim has a good equestrian background and is a farmer and businessman in the rural sector - that's a really good linkage for us as well."