"Our view is the local authorities need to back this event in the same way our new event manager is backing it."
On Friday HOYL announced it had selected Auckland-based SMC Events to take over the contract to run the show.
The decision followed a tender process which previous long-standing event manager Kevin Hansen chose not be part of.
Ms Bowers said under the new agreement, SMC would have to pay a share of any deficit if the event ran at a loss, something which wasn't written into the previous contract with Mr Hansen's company.
"For my board, that is a huge positive in that SMC has the confidence to back themselves to make a profit," she said.
SMC is a well established operator with experience running a range of major events including the Weet-Bix Kids TRYathlon, Auckland's ASB Polyfest, Big Boys Toys and the Sovereign Tri Series.
The company used to own the Ellerslie International Flower Show but sold the event to Christchurch City Council for $3 million in 2007.
It continued to manage the event for the council until last year, when the council announced, after several years of losses, it was cancelling the 2015 show and would work on plans to make the event financially viable from 2016.
SMC chief executive Dave Mee said yesterday his company had received positive reviews - including from the council - for its management of the Ellerslie show but the Christchurch earthquakes were a "game changer".
Ms Bowers said HOYL did "significant due diligence" during the tender process and SMC were highly recommended by people who worked with the company.
HOYL has an agreement with Equestrian Sport NZ that the Horse of the Year show is to be held in Hawke's Bay until 2027.