Breeding Award rate increases For New York-breds in 2024

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At the December 12, meeting of The New York State Thoroughbred Breeding & Development Fund Corporation (the Fund) Board of Directors’, a motion was unanimously approved to increase the breeder award rates for all New York-breds who compete in New York starting January 1, 2024.

The increase in breeder awards was approved by the Fund board due to projected revenue increases expected by the Fund in 2024. An increased holdback rate from 10 percent to 15 percent will also be implemented to ensure the Fund can payout awards up to the new advertised rates. We anticipate being able to pay the holdback in its entirety upon completion of the fiscal year.

“These bigger better bonuses reward breeders for creating quality race horses,” said Tracy Egan. “Board Chairman Brian O’Dwyer encouraged the Board to find a way to get award money out the door to award earners as quickly as possible and by hiking breeder awards, we will do that.”

The new breeder’s awards rate schedule for New York-breds in 2024 is as follows:

2024 New York-Bred Program Breeder Awards

New York-Sired*	2024 Award (Percent Purse Money Earned)	2023 Award (Old rate)
First Place	40%	30%
Second Place	20%	15%
Third Place	10%	15%
Cap per Award	$40,000	$40,000

 

Non-New York-Sired*	2024 Award (Percent Purse Money Earned)	2023 Award (Old rate)
First Place	20%	15%
Second Place	10%	7.5%
Third Place	5%	7.5%
Cap per Award	$20,000	$20,000

“This historic increase in breeder awards is monumental news for all breeders currently participating in the New York-bred program. It’s another reason why New York remains the top regional state-bred program in the nation and why more breeders should bring their mares to foal in New York,” said New York Thoroughbred Breeders executive Najja Thompson.

*A breeder is the owner of the mare at the time the mare foals in New York State. There are two tiers of Breeder’s Awards for all races run in New York State:

*A New York-sired New York-bred is sired by a registered New York Stallion. A non-New York-sired New York-bred is sired by an out-of-state stallion or a non-registered New York stallion.

The New York Thoroughbred Breeding and Development Fund Corporation administers program awards and incentive programs for thoroughbreds foaled in New York who race on New York tracks. The program, which provides incentive awards to participants and purse enhancements for races restricted to New York-breds, was developed in 1973 to encourage the establishment of thoroughbred farms in New York that would protect and expand green space.

 

 

Source URL: https://www.nytbreeders.org/news/2023/12/19/breeding-award-rate-increases-for-new-york-breds-in-2024/

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