Month: November 2021

Texas 2YO in Training Sale Set for Apr. 6

The Texas Thoroughbred Association and Lone Star Park at Grand Prairie have scheduled the 2022 Texas 2-Year-Olds in Training Sale for Wednesday, Apr. 6. The breeze show will be held at the Dallas-area racetrack Monday, Apr. 4.

“Based on what we saw with the Texas Summer Yearling Sale, I think there's a lot of anticipation for the upcoming Texas 2-Year-Olds in Training Sale in April,” TTA Sales Director Foster Bridewell said. “I think we're uniquely positioned in the 2-year-old sales landscape to provide a quality sale for our owners, trainers, and breeders and still attract out of region buyers and sellers.”

Lone Star Park kicks off its 2022 Thoroughbred meet with 48 days of racing Apr. 28. The Texas Thoroughbred Association Futurity, for TTA Sales graduates and Accredited Texas-breds made eligible through consignor or buyer berths, will be held on closing weekend at Lone Star with two divisions, each at $150,000 guaranteed. Graduates of the Texas Yearling or 2-Year-Olds in Training Sale will also be eligible for the new Texas Thoroughbred Association Derby and Oaks for 3-year-olds. Both races will be held at Sam Houston Race Park in 2023.

“The expanded stakes program for Texas Thoroughbred Association sales graduates certainly gives buyers something extra to think about when they're bidding on horses,” Bridewell said. “Also, thanks to the passage of HB 2460 in 2019, the Texas horse industry benefits from the infusion of $25 million per year, increasing purses and Accredited Texas-bred incentive awards,” Bridewell added. “It really does pay to breed, sell and race in Texas.”

The Entry Deadline for the Texas 2-Year-Olds in Training Sale is Jan. 17, and consignment forms are now available at www.ttasales.com.

The post Texas 2YO in Training Sale Set for Apr. 6 appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.

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Barr Introduces Legislation To Make Racehorse Tax Depreciation Schedule Permanent

U.S. Congressman Andy Barr (KY-06) reintroduced legislation to incentivize investment in Kentucky's signature equine industry.  The Equine Tax Fairness Act would make the three-year depreciation schedule permanent for racehorses, regardless of their age when put into service. Currently, Congress must reauthorize this provision in the tax law on an annual basis.

Additionally, this legislation would reduce the holding period for equine assets to be considered long term capital gains, putting them on a level playing field with other similar assets. Congressman Barr's bill is endorsed by the National Thoroughbred Racing Association (NTRA), the Kentucky Thoroughbred Association, the Jockey Club, the Thoroughbred Owners and Breeders Association, Keeneland, and the American Horse Council.

“Permanently delivering tax incentives for owners and breeders will strengthen investment in our signature equine industry,” said Congressman Barr, who serves as Co-Chair of the Congressional Horse Caucus. “I want to continue the momentum started with the enactment of the Horseracing Integrity and Safety Act to push another key industry initiative across the finish line that will help solidify the sport for decades to come.”

“The three-year depreciation of racehorses (similar to other investment assets) is critically important to encourage robust investment in Thoroughbred horses and to maintain the vibrant economy and trade we have seen throughout this Thoroughbred sales cycle and consistently over the past 85 years at Keeneland,” said Shannon Arvin, President and CEO of Keeneland.  “We appreciate Congressman Barr's consistent support of this legislation and the entire Thoroughbred industry.”

“Congressman Barr understands the horse racing industry and appreciates the impact this bill would have on attracting and maintaining ownership in racehorses,” said Alex Waldrop, President and CEO of NTRA. “We thank him for introducing the Equine Fairness Act and for helping support an industry that is a job-creating economic engine for his home state of Kentucky and for other states.  Both provisions offer a level of tax fairness and flexibility that racehorse owners seek when determining their level of investment.  This bill simply is good for business.”

“The Jockey Club wholeheartedly supports the Equine Tax Fairness Act, introduced by Congressman Barr,” said James Gagliano, President of the Jockey Club. “This bill will put horse ownership on par with other investment assets.  The three-year depreciation schedule accurately reflects the typical career of a racehorse since nearly three-quarters of foals that race have a career of four years or less. This change has been enacted by Congress on a temporary, year-to-year basis since 2008, and needs to be permanent law.”

You can read the Jockey Club's full statement on the bill here.

“The Kentucky Thoroughbred Association endorses the Equine Tax Fairness Act, and is very grateful to Congressman Andy Barr for introducing it.  Kentucky breeders produce foals that become racehorses in 38 states, and the 3-year depreciation encourages racehorse ownership which we know supports 241,000 direct racing sector jobs nationwide as well as the 60,000 direct, indirect and induced jobs in the Commonwealth of Kentucky,” said Chauncey Morris, Executive Director of the Kentucky Thoroughbred Association.

“The Thoroughbred Owners and Breeders Association fully endorses Congressman Barr's bill to reward investment in our great sport,” said Dan Metzger, President of the Thoroughbred Owners and Breeders Association.  “We thank him for his consistent support for owners and breeders and the Thoroughbred horse racing industry as a whole.”

“The American Horse Council is pleased to endorse Rep Barr's Equine Tax Bill, which will help ensure growth and investment in the $122 billion equine industry,” said Julie Broadway, President American Horse Council.

The post Barr Introduces Legislation To Make Racehorse Tax Depreciation Schedule Permanent appeared first on Horse Racing News | Paulick Report.

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Hop, Skip, And A Jump: Going To Vegas Brings Hundreds To World Championships

When Richard Baltas-trained Going to Vegas won the Grade 2, $200,000 John C. Mabee Stakes on Sept. 4, it was estimated that around 250 people – owners or friends of owners of the three partnership groups involved with the 4-year-old daughter of Goldencents – wedged into the winner's circle for the post-race picture and trophy ceremony.

It's easy to imagine what the scene might be if Going to Vegas would prevail in Saturday's $2 million Maker's Mark Filly & Mare Turf.

Oh, the humanity!

No! The humanity won't be quite as numerous, said Bing Bush, founder and manager of Abbondanza Racing, one of the three partnership organizations involved.

“That was a bit of a concern,” Bush conceded. “But you can't get in the winner's circle unless you have a lanyard and I think we have 30 lanyards apiece for each of the three groups. So it'll be down from 200 or so to 90.”

The John C. Mabee, at 1 1/8 miles on the Jimmy Durante Turf Course, turned out to be the middle leg, albeit an important one, on Going to Vegas' hop, step and jump into participation in racing's championship weekend.

Hop: The former $50,000 claimer won an allowance over the Mabee course on July 16, opening day of the summer meeting.

Step: The victory, by 2 ¼ lengths over Dogtag in the Mabee, which brought with it a $120,000 share of the purse, but was not a be-all for the connections. Going to Vegas was not made eligible as a foal for the Breeders' Cup and the daunting prospect of having to pay a six-figure supplemental entry fee remained.

Jump: The Grade 1, 1 ¼-mile Rodeo Drive on Oct. 2 at Santa Anita was a “Win & You're In” fees paid qualifier for the Filly & Mare Turf, and Going to Vegas went wire-to-wire under Umberto Rispoli, holding off Luck by a head.

So, on Sunday morning, Bush and some friends watched from the two-story temporary structure along the stretch as Going to Vegas went four furlongs in :49.20 in her final work for Saturday's race.

“Sometimes at the end of a work she tends to lug in a little bit, but today she didn't,” Bush said. “She did it very easily and galloped out very nicely, so we couldn't be happier.”

And on Monday, Bush and friends gathered in the Del Mar paddock for the post position draw for all 14 Breeders' Cup races to see Going to Vegas get the No. 1 post and be assigned morning line odds of 12-1.

“Under normal circumstances, I would be disappointed with the No. 1,” Bush said. “But under these circumstances, I think it's all right. She'll be able to use her natural speed to get a good position – she doesn't have to have the lead, but she might — and go from there.”

Bush resides in the complex of white houses on the hillside north of and overlooking the track just across Via de la Valle.

“I can walk here,” he points out.

If Going to Vegas pulls off an upset on Saturday, Bush – and 90 lanyard-wearers in the filly's camp – will be walking on air to the winner's circle. It won't be like the John C. Mabee. But they won't mind.

The post Hop, Skip, And A Jump: Going To Vegas Brings Hundreds To World Championships appeared first on Horse Racing News | Paulick Report.

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