Month: August 2023

Perhaps best known for his work on the Michael Jackson estate, Tax Court Judge Mark Holmes is often regarded as eloquent in his appraisal of cases before him. 

However, when creating a bench opinion on the case of Joseph G. Bucci, his writing became a bit uncouth. Bucci, the owner of American Rock Salt, was facing tax and accuracy penalties of $711,980 for 2016 and 2017, mainly in reference to his Thoroughbred racing and breeding business, which the IRS had deemed a hobby rather than a business. 

Judge Holmes sided with the IRS at Bucci's hearing, at which Bucci represented himself. Though Judge Holmes commended Bucci on his founding of American Rock Salt, his main focus was that Bucci chose to house his retired racehorses on his property when they were done racing and being “profitable.” 

Judge Holmes noted that sending the horses to Canada or Mexico for slaughter would have made more economic sense in Bucci's case. He said that most racehorse owners who have horses that are incapable of racing will find a way to get their horses to Canada or Mexico for slaughter or “glue factories” (slaughter is legal in both Canada and Mexico). 

However, it is evident that “most” racehorse owners do not export their horses for slaughter – or glue factories, of which very few use any equine body parts to make glue today. Many industry players stand in solidarity against equine slaughter, including The Jockey Club, the Thoroughbred Owners and Breeders Association, and the New York Racing Association, among others. 

Many tracks, including Delta Downs and Evangeline Down, owned by Boyd Gaming, have written rules to punish those who send horses to slaughter by permanently denying the owner or trainer stalls at their tracks. 

Read more at Forbes. 

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Founded by Anita Motion in 2017 as a celebratory way to bring racing personalities together to raise funds and awareness for Thoroughbred aftercare, the Real Rider Cup today announced that it has raised over half a million dollars since its inaugural event.

The Real Rider Cup, now running its seventh consecutive year, has endured through a pandemic and changes of venue, and triumphed with added beneficiaries and additional legs of competition. The concept of inviting racing personalities to ride their Thoroughbreds in a show jumping competition was unique at the time, but the spirit of collaboration towards the shared goal of providing quality homes and fulfilling careers for Thoroughbreds beyond racing holds true to this day.

“The way that the Real Rider Cup has been embraced and the legs it has grown is inspiring and rewarding,” said Motion. “Our industry believes in Thoroughbred aftercare and it shows.”

Current beneficiaries of the Real Rider Cup, who represent the diverse types of organizations that make up the aftercare industry, work together to produce what now includes two separate legs of competition. Competitors, who pledge to raise a minimum of $1,000 each for the cause, still include representatives from across the racing industry but now also individuals from within the aftercare industry as well.

“We're honored to have been a beneficiary of the Real Rider Cup since the beginning, but we're especially proud to now work alongside New Vocations Racehorse Adoption Program and the Fair Hill Thoroughbred Show to support Anita in producing the event,” said Retired Racehorse Project executive director, Kirsten Green. “It's important to demonstrate that we can all work collaboratively towards a shared goal, and the Real Rider Cup illustrates that collaboration exceptionally well.”

With the second leg of the Real Rider Cup set to be held at Fair Hill September 15^th, there is still plenty of time to get involved. Rider registration is open through September 8^th with a variety of sponsorship packages available.

Learn more at www.therealridercup.com.

Proceeds of the Real Rider Cup benefit the Retired Racehorse Project, New Vocations Thoroughbred Adoption and the Fair Hill Thoroughbred Show.

Fair Hill Thoroughbred Show is a 501(c)3 organization supporting riders of Thoroughbreds by providing affordable show fees, scholarships, stakes classes and prizes in every division. By supporting their riders, we are helping more OTTBs find second careers.

The Retired Racehorse Project (RRP) is a 501(c)3 charitable organization working to increase demand for off-track Thoroughbreds in the equestrian world. In addition to producing the Thoroughbred Makeover and National Symposium, the world's largest and most lucrative retraining competition for recently-retired racehorses, the organization also publishes Off-Track Thoroughbred Magazine, produces the Master Class retraining clinic series, and presents programming at major horse expos and events around the country. The RRP maintains an educational library of content to empower more equestrians to ride a Thoroughbred.

Founded in 1992, New Vocations has grown into the largest racehorse adoption program in the country. Its mission to rehabilitate, retrain and rehome retired Thoroughbred and Standardbred racehorse has led to the placement of over 7,000 individuals, with 500 retirees entering the program each year. With facilities in Kentucky, Louisiana, New York, Ohio and Pennsylvania, New Vocations serves over 40 racetracks, working directly with owners and trainers in need of aftercare options.

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