The National Thoroughbred Racing Association board of directors has approved a 2007 budget in which revenue exceeds expenses by about $300,000. The board also reviewed the terms of a propoosed two-year affiliate agreement with Breeders’ Cup.
The 2007 budget projects $19.5 million in revenue versus $19.2 million in expenses. Revenue will come from $8.95 million in membership fees, $7.23 million from sponsorship and group purchasing, and $1.3 million from promotions. Expenses include $3.1 million for television, $4.69 million for sponsorship and group-purchasing fulfillment, $3.1 million for personnel costs, $3.6 million on advertising, marketing, and promotions, and $1.18 million for legislative and regulatory activities.
The board, which met March 5 in Hallandale, Fla., said the new 2007-08 NTRA/Breeders’ Cup affiliation agreement would be presented to both boards for final approval in April. The NTRA’s next quarterly board meeting is set for June 7.
According to media notes, the NTRA board also affirmed the importance of finalizing a wagering transmission protocol (WTP) that will modernize the industry’s tote systems.
“NTRA management is committed to focusing its attention on key programs and initiatives of fundamental importance to all segments of the industry,” NTRA president and chief executive officer Alex Waldrop said in a statement. “These include the industry’s need to upgrade its tote technology infrastructure and develop a new wagering transmission protocol; the Internet gaming regulations soon to be forthcoming from the U.S. Department of the Treasury; equine welfare through the Barbaro Memorial Fund, which will support Thoroughbred health and safety initiatives; and the NTRA’s many marketing and promotional efforts.
“Given the opportunities and need for leadership within the Thoroughbred industry, one of the NTRA’s biggest challenges will be to prioritize the deployment of its limited human and financial resources.”