Having the Breeders’ Cup World Championships at Churchill Downs a record sixth time and a hike in nomination fees for some stallion owners resulted in a financial boon for Breeders’ Cup Ltd. during fiscal 2006.
According to the Breeders’ Cup Ltd. annual report released July 12, total revenue from the 23rd Breeders’ Cup totaled $22.7 million, a 34.7% increase over the 2005 revenue of $17.6 million when the races were held at Belmont Park. With a record $20 million in Breeders’ Cup Day purses, the event at Churchill Downs attracted 75,132 fans and record all-source handle of $140.3 million was up 13.1% over the previous year.
The report said nomination fees from breeders and stallion owners totaled $22.5 million in 2006, up 34.7%. Effective with 2006, higher nomination fees were charged owners of stallions to whom more than 50 mares are bred.
According to the annual report introduction from president and CEO Greg Avioli, the organization had $7.3 million in operating income, consisting of $3.7 million from operations (primarily driven by the championship day successes) and $3.6 million from investment income.
The annual report also included a notation that when Oak Tree Racing Association hosts the Breeders’ Cup World Championships at Santa Anita Park in 2008, the $5-million revenue guarantee is the largest in host-site contracts during the series’ history.