The New York State Thoroughbred Breeding and Development Fund, established in 1973, has helped shape the New York State thoroughbred industry, making it the benchmark of thoroughbred programs around the world.
The Fund's mission statement is "To promote by monetary incentives the responsible breeding of quality thoroughbred racehorses in keeping with the founding legislation to preserve New York's irreplaceable farmland."
The Fund is the regulatory body of the New York Breeding and Racing Program. The Program distributes over $52,000,000 per year in the form of incentives, breeder awards, stallion awards, owner awards, and purse money for New York-bred horses.
New York-bred yearlings, topped by five individuals who realized six figures, put in a solid showing at the three-day Fasig-Tipton October sale, which climbed into record territory once again this year, seeing new highs in gross, average, and median.
Sheikh Hamdan bin Rashid Al Maktoum’s Fannaan, a son of Speightstown bred in New York by Waterville Lake Stables Ltd LLC and foaled at Doug Koch’s Berkshire Stud, has made good so far on his $350,000 price tag as a Keeneland September yearling by chalking up two comfortable victories to begin his young career, scoring his second tally at Newmarket on October 22.
In the opening session of the three-day Fasig-Tipton Kentucky fall yearling sale at Newtown Paddocks in Lexington, trainer Gary Contessa, agent, went to $140,000 to purchase the top-selling New York-bred yearling, a chestnut daughter of Kitten’s Joy bred by Ken and Sarah Ramsey and foaled at Questroyal North in Stillwater.