The impending closure of Golden Gate Fields in Northern California, scheduled for the summer of 2024, is wreaking havoc on the confidence of horse owners and breeders in California. According to stakeholders speaking to the Los Angeles Times, however, that is not the only problem facing horse racing in California.
Scott Chaney, executive director of the California Horse Racing Board, said low purses are the biggest threat to the state's racing industry.
“Our purses just have to be higher or there is a definite expiration date for racing,” Chaney told the LA Times. “At the end of the day everything is going to be driven by purses. At some point we aren't going to be competitive to other states and horsemen are not going to be incentivized to come here. It's quite amazing that currently California has extremely high-level racing with much smaller purses.”
Bill Nader, president and chief executive of the Thoroughbred Owners of California, echoed those sentiments.
“[Without a purse increase,] we are going to keep having this discussion with a cloud hanging over our head and no one will be entirely comfortable that we will be sustainable over the next five to 10 years,” Nader relayed.
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