A merger of the NTRA and Breeders' Cup Ltd. was
approved by the NTRA BOD last Thursday, and the Breeders'
Cup BOD "will begin its work to develop details" of the
union in the next 90 days, according to Matt Hegarty of the
DAILY RACING FORM, who wrote that a unification could double
the NTRA's revenues from $30M to $60M. While a merger would
allow the NTRA to "gain vast leverage" to sell sponsorships
and cross-promote racing events, also under the potential
deal, the two operations "could save millions in general and
administrative expenses" by consolidating their staffs and
operations. Though the proposal would consolidate the two
group's administrative, marketing and business units, the
Breeders' Cup "would remain a separate entity," with its own
cash reserves and BOD to run the event, including site
selection, purse and race conditions. NTRA Commissioner Tim
Smith: "What we'd end up with is a single central entity
that would carry out the Breeders' Cup mission within the
context of a coordinated national campaign. The NTRA
couldn't do anything with the Breeders' Cup without getting
approval from the Breeders' Cup board" (DRF, 5/21).
