Breeders' Cup Decides To Suspend Entire Stakes Program For '09
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Cutbacks For '09 Expected To Affect 121
Stakes Races At About 40 Racetracks |
Breeders' Cup officials have "decided to suspend the entire Breeders' Cup stakes program for 2009," according to Lenny Shulman of BLOOD HORSE. A December 11 memo sent from Breeders' Cup Senior VP/Operations Pam Blatz-Murff to racing secretaries, stakes coordinators and officials indicated that the organization was "projecting a reduction in overall Breeders' Cup revenues of more than $10[M] next year due to the global economic downturn and a likely shortfall in nominations revenue." The memo "goes on to state that in order to maintain the Breeders' Cup Championship purses at their current level of $25.5[M], television and marketing spending will be slashed" by more than $5M. Shulman noted the event has "expanded from one day to two, and from eight races to 14" over the past two years. The '08 Breeders' Cup stakes program featured 100 races and allocated $5M in Breeders' Cup Funds to existing stakes races across the U.S. and Canada. The Breeders' Cup board "also authorized a return to the 3% entry fees for Championship races that were in place until" '05 (BLOODHORSE.com, 12/14). Breeders’ Cup Senior Dir of Event Communications Jim Gluckson Friday said that the cutback "will affect 121 stakes races for Breeders' Cup-nominated horses at about 40 racetracks." The Breeders' Cup "kicked in extra purse money to what a track already offered for those races" (AP, 12/13). DAILY RACING FORM's Matt Hegarty reported the Breeders' Cup BOD also approved a "0.5-point increase in entry fees for the organization's two-day card of championship races and a reduction in nomination fees for horses of racing age." Gluckson said that the event "will revisit the suspension of the supplemental stakes program" in '09 (DRF.com, 12/12).
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