Look behind the good news that emerged from the Feb. 16^th meeting of the Board of Directors of the New York Thoroughbred Breeding and Development Fund (“the Fund”) and you’ll see dollar signs provided by the long-awaited revenue from VLTs.  Chairman John Sabini opened the meeting by noting that the Resorts World Casino has paid more than $1.6 million to the Fund since its opening on October 28^th 2011.

The prompt payments and ample revenue will allow the Fund to pay out all of the (30%) withholdings taken in 2011, as well as to pay bonuses to all three categories of awards earners.

WITHHOLDING PAYOUTS

Breeders                     $1,504,194

Stallion owners         $400,480

Owners                        $297,997

In addition, the Fund’s Chief Financial Officer Michael Demarco informed the Board that there was $1.338 million (final amount subject to audit by our CPA firm) on hand that could be paid out in supplemental awards. After some discussion, the Board voted to make payments along the lines of each category’s projected earnings.  Significantly, the Board included owners in the supplemental/bonus payments as a way to remind horsemen and women that “it pays to own a NY-bred,” as the Fund pays up to $20K to the owner of a horse that earns money in open-company races run  in New York State. (Click here for our awards incentive page.)

Category           Money Available for Bonus   Share of Supplement         Bonus Rate

Breeder                      $807,000                               60%                                            16%

Stallion owner          $366,567                               27%                                            27%

Owner                         $167,586                              13%                                            17%

CHECK MAILING SCHEDULE

Beginning with the Fund’s payment for the first period of 2012 (January and February), the Fund will only be withholding 10% as per the Board’s decision at its February meeting.

The Fund expects to send withholding checks from 2011 in late March or early April.  In addition, it is our goal to get supplemental checks in the hands of our stakes holders as soon as possible, with the expectation that they will be mailed in late April or early May.

ADDITIONAL GOOD NEWS

The Fund Board approved the budgeting of $15,000 for six $2,500 scholarships to be awarded to students pursuing careers in the thoroughbred breeding or racing industries in New York State at SUNY Cobleskill, SUNY Morrisville and Cornell University (two scholarships each).

The Board approved Fund sponsorship of a NY-Bred Allowance Race to be conducted as a non-wagering event during the Fall Festival of the Horse run by the National Steeplechase Association at Saratoga Race Course. The family-oriented event will benefit Saratoga area charities such as the TRF and Saratoga Bridges.

If you have SIRIUS/XM Radio, tune in each Saturday when “Down the Stretch” hosts Bill Finley (turf writer), Dave Johnson (race caller) and Dave Grening (turf writer) will be discussing the advantage of owning NY-breds. Once a month they’ll announce a NY-bred of the month, and that announcement will be sent to equine publications for further publicity.

Also, mark your calendars for August when the Fund will promote NY-breds on Mike Francesa’s radio/cable sports talk show on the YES Network.

Start spreadin’ the word… it’s time to GET BACK with New York-breds so you can start with a bigger advantage than ever.

- Executive Director Tracy Egan

It has come to my attention that some stallion owners and managers did not received the FUND’s November 2011 mailing, which included a Stallion Registration Form, a notice about our Cooperative Advertising program, and the Fund’s EVA requirements.  Therefore, anyone who missed the December 31^st deadline will not have to pay a penalty for registering past that date, AS LONG AS THEY COMPLETE OUR REQUIREMENTS BEFORE THE FINAL DEADLINE OF FEBRUARY 15^TH, 2012.

Here’s a link to our Stallion Registration page: http://www.nybreds.com/stallion-registry/

On behalf of the FUND, I extend my personal apology for any inconvenience this may have caused.  If you register online, the system is set up to collect the $500 late fee. If you’ve already done this, contact us at nybreds@nybreds.com and we will arrange a refund.

The FUND’s guidelines about EVA testing and vaccinations are deliberately strict in order to protect our mare population.

The FUND guidelines are modeled on the Kentucky law, which was instituted for thoroughbreds following an EVA outbreak  on 41 farms in that state back in 1984,  which caused many mares to abort.  Therefore, when you breed to a thoroughbred stallion that is registered with the NY Thoroughbred Breeding and Development Fund, you can trust that your mare is going to stallion who is free of the virus and has been vaccinated against Equine Viral Arteritis.  Failure to meet EVA requirements will prohibit registration with us.

- Executive Director Tracy Egan

A message from Executive Director Tracy Egan

(First posted August 2011)

Dear Awards Recipient,

It has come to our attention that many banks have adopted new policies that make it difficult to cash or deposit Fund award checks made out to more than one person.

The Fund has had a “one horse, one check” policy in effect for decades, and we will continue that policy. We do not have the resources to divide checks up among various individuals.

Here are some steps we recommend to avoid future problems (a message posted on our website and sent out via e-mail blast):

Partners should designate/re-designate a managing partner for tax matters. Please send us a letter with notarized signatures from all partners showing that they are in agreement on the managing partner. For your own protection, you should have a document in writing that spells out what percentage each partner owns.  A form for this purpose can be found on our website here.

Checks will be made out in the name of the managing partner, who should then be able to deposit awards checks without difficulty. Visit our website for a downloadable form for this purpose. W-9 forms can be found through our home page by clicking on Registration Forms/Online forms.

The managing partner will be responsible, as they presumably are already, for distributing the proceeds in accordance with the partnership/syndicate agreement.

At the end of the year, the tax matters partner will have to supply IRS 1099 forms to the other partners or other members of a syndicate, notifying the IRS of the amounts paid out to the partners for that tax year. We will still provide a 1099 to the tax matters partner for each horse he/she manages.

To recap, we need a notarized letter signed by all partners agreeing to a designated tax matters partner. The letter can be filed via e-mail or fax, or sent by regular mail to our offices.

We will review the letter, make the necessary changes to our awards system, and send confirmation thereof.

Feel free to contact Michael DeMarco or Judith Spadaro at 518-580-0100 with any questions you may have.

NYS Thoroughbred Breeding and Development Fund fax: 518-580-0500

e-mail: mdemarco@nybreds.com

Mailing address:

NYS Thoroughbred Breeding and Development Fund Corporation

19 Roosevelt Dr. – Suite 250

Saratoga Springs, NY  12866

On Thursday, Dec. 8, the New York Thoroughbred Breeding and Development Fund (the FUND) mailed out awards checks totaling $1,024,747.

Breeders received the lion’s share of the awards money, with 500 recipients receiving a total of $713,251.

A total of $128,726 was awarded to 104 stallion owners.

Ninety-seven owners collected a total of $183,770.

The amounts continue to reflect the 30% withholding implemented by the Fund’s Board of Directors to assure that horses earning awards in the latter months of 2011 would be certain to collect awards money. The good news is that we will be able to pay out 100% of monies withheld during 2011 in the early months of 2012.

Dear Breeders,

On October 22, the Board of Directors of the New York Thoroughbred Breeding and Development Fund voted to approve 50% across-the-board increases in breeder award rates.

Beginning next year, breeder awards for NY-breds sired by registered NY stallions will be increased to 30% for first-place finishes and 15% for second- and third-place finishes.  Awards for non-NY-sired NY-breds will rise to 15% for first-place finishes and 7.5% for second- and third-place finishes.

And there’s more – the cap on breeder awards for NY-sired NY-breds has been increased by 300%, to $40,000 per horse per race, and the cap on breeder awards for non-NY-sired NY-breds has been increased by 100%, to $20,000 per horse per race.

We think you’ll agree that this is great news for all breeders in the state as well as for our breeding industry as a whole. The future is indeed looking bright for New York racing and breeding.

The increases will be implemented as of January 1, 2012.  The Board approved the changes recommended by Chairman John Sabini’s Ad Hoc Awards Review Committee (Board members: breeder/stallion owner Joseph McMahon of McMahon Thoroughbreds and Dr. William Wilmot, DVM, breeder and co-owner of Stepwise Farm).

Here’s a chart (courtesy NYTB, Inc.) that breaks down the approved changes:

New York-Sired                        New           Current
First place                                 30%                 20%
Second place                            15%                10%
Third place                                15%                10%
Cap per award                     $40,000        $10,000

Non-New York-Sired               New          Current
First place                                 15%               10%
Second place                           7.5%              5%
Third place                               7.5%               5%
Cap per award                    $20,000        $10,000

Dear NBC/Versus Viewers,

Welcome to nybreds.com.

Did you know that NYRA cards many races each week during the historic Saratoga Racecourse meet strictly for horses that are registered New York-breds?

Whether you buy them from Fasig-Tipton or Keeneland or foal them at one of our more than 300 breeding farms, we believe our NY-breds are truly “back with a BIGGER advantage.”

Starting this fall, purses at the NYRA tracks will be getting a huge influx of cash from the VLTs that will open in October at the Resorts World New York Casino at Aqueduct.

NYRA President Charles Hayward has been anticipating $30 million in additional money for purses next year. Resorts World NY President Michael Speller recently told a forum on the impact of VLTs on New York racing and breeding that he believes that figure is much BIGGER: $50 million.

So NY-breds will be running for BIGGER purses in both restricted and open company. Also, if you race a registered NY-bred horse, it may qualify you for owners’ awards of up to $20,000 per race.

When the New York Thoroughbred Breeding and Development Fund was launched in 1973, NYRA was only required to run one NY-bred restricted race per year.  Now that number is much BIGGER: 600 NY-bred races are required by statute.

Whether your goal is to experience the thrill of racing through individual ownership or the camaraderie of a partnership, we here at the NYS Thoroughbred Breeding and Development Fund are confident you can achieve those goals by buying or breeding a quality NY-bred.

We are truly “back with a BIGGER advantage.”

You’ll find that most of your questions can be answered here at our website, but do not hesitate to contact us at nybreds@nybreds.com with any comments or inquiries you may have.

Yours Truly,

Tracy Egan

Executive Director

Joe Lynch was the “go-to guy” at the Racing and Wagering Board, and when he passed away suddenly of a heart attack this past January he left a gaping hole at the Board and in the hearts of his family.

On Saturday, the Fund sponsored a fitting tribute to Joseph Lynch, as NYRA named the ninth race after the late Chief of Operations at RWB: the Joe Lynch Memorial.

His brother Tom speaks with reverence about how Joe rose from humble beginnings to become one of the most trusted and liked men in all of racing.
Board Chairman John Sabini noted that when he had a question about anything, he would go to Joe for an answer he could count on.

Joe and Tom’s parents bought a house three blocks from the track on Nelson Avenue in Saratoga Springs, NY when Joe was just a year old. The excitement that poured out of the historic track every summer lured the whole family, but Joe in particular was fascinated by the horses, the people, and the issues of racing.

So it’s not too surprising that Tom Lynch, along with Joe’s girlfriend Kathy Broadhead and two of his cousins, Colleen Lynch and Jean Cummings, felt the spirit of Joe was somehow with them as they sat patiently through eight races waiting for the NY-bred allowance race that was special to them.

Minutes before post, Kathy confided to me that Joe was her “everything” and that she was certain that Theresmyeverything would prevail in what was another of those five-and-a-half-furlong turf contests that seem to confound even the best handicappers.

I should have put a lot more trust in Kathy’s intuition. Theresmyeverything sat a length or two off the pace, lugged out a bit on the turn, then confidently surged past Hysterical Cat to win by two-and-a-half lengths. Kathy considered her bet to be an investment every step of the way, and took the $9.30 payout as a sign that the go-to guy can still be counted on.

- Tracy Egan

You don’t see this every day: longtime Phipps Stable trainer Shug McGaughey saddling a NY-bred.  The filly, Aquifolia, owned by Helen Alexander and Helen Groves, went off at 7-2 in today’s fourth race at Saratoga.

Ridden by Alex Solis, the filly broke well and settled, content to sit fourth down the backside as frontrunners Molls Alley and Hook Shot dueled a blazing :22.2 quarter and a :45-and-change half. The exchange took too much out of Hook Shot, who backed up, leaving the golden rail clear for first-time-starter Senora Dubai, who pulled away by 3 1/2 lengths to win in 1:23.92 for seven furlongs. Molls Alley, another firster, finished second, with Stray Bullet, a daughter of NY sire Aldebaron, coming on for third. The Shug filly ran evenly to finish fourth.

It’s good to see such lofty names in the NY-bred game.

- Tracy Egan

Saratoga Springs, NY August 12, 2011

The late Carl Lizza’s homebred Street Game looks to add a Grade II win to his resume in today’s seventh race at Saratoga, the $150,000 National Museum of Racing Hall of Fame Stakes.  The handsome chestnut faces six rivals and a super firrrrrm turf course, which may be the chief challenge for the winner of the Grade III Hill Prince in June on yielding turf at Belmont Park.  While the solid turfer is by Kentucky sire Street Cry, he is out of the thoroughly NY-bred Thunder Puddles mare Thunder Achiever.

And here’s something you don’t see often: Claude “Shug” McGaughey will saddle a NY-bred filly, Aquifolia, in the fourth race.  Until recently Shug trained only for the Phipps family, but he now takes in a few outside clients and is unleashing the first-time starter for Helen Alexander and Helen Groves.

Bred by Alexander Groves (Michael) Matz LLC and foaled at Doug Koch’s Berkshire Stud, the filly proves that the NY-bred program is encouraging the breeding of ever-improving stock.  Sired by Smarty Jones when he stood in Kentucky, the three-year-old filly’s dam Agarita is a Danzig daughter and is the granddaughter of 1983 Broodmare of the year Courtly Dee. The late Courtly Dee was the dam of champion Althea, Ali Oop and Aishah.

- Tracy Egan

Before the bidding on their Medaglia D’Oro colt opened Monday evening at the Fasig-Tipton Sales Pavillion on East Ave. in Saratoga Springs, the folks from Gallagher’s Stud knew some of the top names in racing were “on” their NY-bred colt because he’d been vetted by “all the good ones.”

When the hammer fell for the final time on the handsome bay colt (Hip No. 54), he was headed back home to his daddy’s connections at Darley Stud.  With a final bid of $500,000, John Ferguson outlasted B. Wayne Hughes of Spendthrift Farm and George Bolton of Curlin fame to secure the colt for Sheik Mohammed.

Breeder Marlene Brody says her dream for the colt is the same for every horse she produces at her farm in Ghent in Columbia County, “that he will be a Group winner and that he will be a great horse.” She’s proud of how well her NY-bred did in the sales ring and says she believes that Ferguson “was looking to buy a horse, a good horse.”

The 15-month-old colt inspires such hopes by virtue of his looks and pedigree (go to FasigTipton.com to see a Virtual Inspection video). His dam, the winning mare Summer Flash, is a half-sister to Breeders’ Cup Juvenile winner and Champion two-year-old Stevie Wonderboy. Second dam Heat Lightning sold at the 2005 Keeneland November Mixed sale for $1.1 million in foal to Travers winner Birdstone.

Unfortunately, Summer Flash developed laminitis stemming from Potomac fever and it was thought best to put her foal on a nurse mare.  Mrs. Brody recalls that it was “a stout, motherly quarter-horse-type mare” that took over for the ailing Summer Flash, who eventually lost her battle with laminitis.

To ease the loss of Summer Flash, Mrs. Brody has retained a half-sister to race. Coriander, a two-year-old by Corinthian, has yet to hit the track but is “doing everything right” in training.

A similar relaxed approach to his early lessons helped the colt ease smoothly into sales preparation around June 1^st of this year.  Farm Manager Mallory Mort notes that “we have a good feeding program so we just started doing some grooming and walking him free-hand and in the exerciser.”

Mrs. Brody adds, “We always liked him, but he does have a habit – he loves to sleep. I’ve heard that (Triple Crown winner) Affirmed would always nap before a race. I hope his habit serves him well in life.”

At the very least, it should serve him well on the van ride to Kentucky.  Less than 12 hours after he left the sales ring, Summer Flash’s final foal was on a van heading from the foothills of the Adirondacks to the sloping fields of bluegrass country.

- Executive Director Tracy Egan