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