At the December 12 meeting of The New York State Thoroughbred Breeding & Development Fund's Board of Directors, a motion was unanimously approved to increase the breeder award rates for all New York-breds competing in New York starting January 1, 2024.
The increase in breeder award rates 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 that the Fund can pay out awards up to the new advertised rates. We anticipate being able to return the holdback in its entirety upon completion of the fiscal year.
The new breeder award rate schedule for New York-breds in 2024 is as follows:
2024 New York-Bred Program Breeder Awards
New York-Sired* '24 Award (% Earned) 2023 Rate
First Place 40% 30%
Second Place 20% 15%
Third Place 10% 15%
Cap per Award $40,000 $40,000
Non-New York-Sired* '24 Award (% Earned) 2023 Rate
First Place 20% 15%
Second Place 10% 7.5%
Third Place 5% 7.5%
Cap per Award $20,000 $20,000
*A breeder is the owner of the mare at the time the mare foals in New York State. There are two tiers of breeder 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 and to protect and expand green space.
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