We here at the Fund like to think of the March 10th mailing as Breeding Season Greetings from the NY State Breeding and Development Fund. We sent out a total of 1,204 individual checks totaling $3,235,369.
This money represents the withholdings that were imposed on award earnings during 2010 because of uncertainty over how much money the Fund would receive from NYC OTB during its Chapter 9 bankruptcy protection. Largely due to the early intervention of our Board Chairman and Chairmain of the NYS Racing and Wagering Board, John Sabini, who forced the bookmaker to place statutory payments in segregated accounts, the Fund received more than a million dollars at the end of the year. This allowed us to pay back every penny that was withheld during 2010.
Here’s the rundown:
Breeders: 836 checks totaling $2,228,619
Stallion owners: 124 checks totaling $637,623
Open-company owners: 244 checks totaling $369,127
Best of luck during the breeding season, and I hope to see the horses you breed and race make like Man o’War, who was famously described by a race caller as “Man o’ War in front; the rest: nowhere.”
Sincerely,
Tracy Egan
Executive Director
