Fasig-Tipton Rejoins NTRA
(Edited NTRA release)
Just days before its first yearling sale of 2009, Fasig-Tipton announced it has rejoined the National Thoroughbred Racing Association (NTRA).
The Fasig-Tipton Kentucky July sale will be held July 20-21 in Lexington.
As part of the agreement, Fasig-Tipton will pay membership dues to the NTRA by matching the contributions from buyers, sellers and consignors participating in the 0.25% check-off program.
Fasig-Tipton stopped matching the donations effective with its Kentucky summer yearling sale in 2006 because it believed the NTRA was not vigorous enough in efforts to get federal legislation passed to ban horse slaughter.
The legislation was heavily supported by the late John Hettinger, who formerly was the leading shareholder in Fasig-Tipton. The sale company has since been sold to Synergy Investments, which is headed by a close friend of Dubai ruler and leading horse owner Sheikh Mohammed.
In 2006, NTRA chief executive officer Greg Avioli said the Fasig-Tipton contribution was “in the low six figures.”
The NTRA’s voluntary check-off funds federal lobbying for the horse racing industry and is supported by buyers, sellers, and consignors participating in Thoroughbred auction sales who contribute 0.25% of the price of a horse bought or sold at auction.
“This is a time when every aspect of Thoroughbred breeding and racing faces challenges, and our industry needs a strong voice on Capitol Hill,” Fasig-Tipton executive vice-president Dan Pride said in the release. “Our customers have shown their commitment by supporting the work of the NTRA through the check-off program, and we are happy to join them through our matching contribution.”
“We welcome Fasig-Tipton back to our membership ranks and thank them for all they have done to facilitate and encourage contributions to the NTRA’s voluntary programs from their clients,” said NTRA’s senior vice president Peggy Hendershot. “We look forward to working with Fasig-Tipton to educate Thoroughbred bloodstock investors about legislative issues that confront the horse racing industry, and the current tax benefits available to prospective horse buyers."
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