In an open letter, Gary West explained that the bonus was his way of saying "thank you" to fellow breeders.
"In an effort to maximize our color bearers' success in the breeding shed, we have decided to further incentivize outside breeders," wrote West in the letter. "We are offering $250,000 to the breeder of the first grade I winner by each stallion and $1 million to the breeder of a 2017 Breeders' Cup Juvenile (gr. I) winner and/or Breeders' Cup Juvenile Fillies (gr. I) winner by either stallion."
New Year's Day and Power Broker, who respectively won last year's BC Juvenile and 2012 FrontRunner Stakes (gr. I), both stand at John Sikura's Hill 'n' Dale Farms near Lexington. New Year's Day, who was top weight on the Experimental Free Handicap, has a 2014 fee of $12,500, while Power Broker stands for $10,000.
West said in the event both Breeders' Cup Juvenile events are won by progeny of his stallions, he and Mary will award $2 million in bonuses ($1 million to the breeder of the Juvenile winner and $1 million to the breeder of the Juvenile Fillies winner).
"These payments are limited to horses that win a grade I race in the United States and will only be paid to the first grade I-winning breeder of each horse," West explained in the letter. "The same breeder is eligible to win both incentive bonuses. If a foal of either of our sires is first to win a grade I, and then win the 2017 Breeders' Cup Juvenile or Juvenile Fillies, they will win $1,250,000.
"And, if a foal of either of our sires is first to win a grade I in the 2017 Juvenile or Juvenile Fillies, they will win $1,250,000. If Mary and I are the breeders of the first grade I winner of either or both horses, then the second grade I winner will get the breeder's award. Mary and I are disqualifying ourselves from the $250,000 bonus."
West said he had purchased more than 40 mares to support both New Year's Day and Power Broker.
"We are proud and excited at the opportunity to stand these two outstanding racehorses at stud as they both have the proper mix of performance, pedigree, and conformation," West wrote. "Additionally, it is well documented that Mary and I purchase well-bred and athletic foals by our own sires that fit the criteria of our racing program.
"We are pleased to offer these significant breeder's bonuses for your support of our two new stallions. We hope you feel this generous incentive is making a good deal even better."