VRC APPROVES 2010 BREEDERS FUND

Somehow in the Monday post, one component of the 2010 Breeders Fund that was approved by the Virginia Racing Commission (VRC) at yesterday’s regular monthly meeting was overlooked.

While the 100% Bonus is gone (for now), this year the Colonial Downs race meet will also feature a 10% Breeders Bonus – breeders of registered Virginia-bred and Virginia-sired horses will receive a bonus equal to 10% of the 60% owners bonus being paid when those horses finish first through fourth in an open race. Do the math, and it turns into another six percent headed back to the breeding farm.

“We wanted to give the breeders a bigger stake in the Colonial Downs meet since so much of the focus of the Fund the past few years has been concentrated on a short period of time,” said Glenn Petty, Executive Director of the Virginia Thoroughbred Association.

Petty noted that many breeders sell their Virginia-breds prior to them ever racing at Colonial Downs and many more are claimed in the months leading up to the meet where Virginia-bred/sired horses have increased earning potential.

“While the Colonial’s 40 day meet is extremely important, Virginia’s breeders are working and expending precious resources the other 325 days as well. This program gives them a bigger stake in the race meet and helps us continue our efforts to balance the program, ”said Petty.

Overall, the VRC approved the following components of the 2010 Virginia Breeders Fund.

60% Owners Bonus first through fourth – this bonus is payable to registered Virginia-bred/sired horses that run in open company and paid as part of the purse. For example, a Maiden Special Weight race which normally has a purse of $22,300 will be run for $35,680.

25% Restricted Race Purse Supplement – the purses for races restricted to registered Virginia-bred/sired horses will be increased 25 percent. For example, a Maiden Special Weight race which normally has a purse of $22,300 will be run for $28,750.

$550,000 cap – the first two items will be capped at $550,000 of total expenditures.

Virginia-bred/sired Stakes Races – registered Virginia-bred/sired horses will be eligible for six $60,000 restricted stakes races.

10% Breeders Award – a 10% award will be paid to the breeders of the horses that earn the 60% bonus outlined in item #1 above.

Traditional Breeders and Stallion Year-End Awards – these awards pay a pro-rata share based on wins at any race track in America.

The first Colonial Downs condition book will be out in late March or early April.